Litecoin has seen a huge surge in the last 48 hours. As has Bitcoin and other cryptos to a lesser extent. The word on the street is that Litecoin could continue its forward momentum until the halving in months to come, however one thing we do know is volatility is the games maker of trading.
Source: IG Group
What could this mean for brokers? All of us in the broker industry were hugely affected when ESMA regulated the leverage and effectively killed off a large part of the new audience that the crypto boom brought in, and with the rulings hot on the heels of the crypto crash we have all been left reeling somewhat (in the EU anyway). If you were not, then I envy your business model!
I recently took an informal poll from the many consumer-traders that we have on our various Facebook groups and site users and in general, there is a real feeling of optimism with two coins, Bitcoin and Litecoin (Bitcoin price behavior continues to amaze analysts, as it surged 15% just a few days ago, broke through the $5,000 barrier for the first time since last November, and then settled in above the $4,800 mark to contemplate its next move).
I won’t go into details, why as many more experienced people have written about the next 24 months events that could see the resurgence of cryptos, but as someone who runs many sites that rely on consumers getting into trading, I very much look forward to seeing this optimism coming good. For my business and that of all our broker clients.
Some notable further reading for you:
FXCM Group launches Litecoin CFD trading
Litecoin partnerships increase public awareness of crypto as a payment mode