Both Bitcoin Cash (BCH) and Litecoin (LTC) are among the many cryptocurrencies in the green after a tough month where the bears had all the say on the market. Both offer a cheaper option to Bitcoin’s bloated fees and do scale slightly better compared to the BTC network. But who wants to be bigger?
Bitcoin Cash vs. Litecoin- The flappening debate
The BCH community is one of the most vocal in cryptocurrency circles, often viewing themselves as representing the original Bitcoin. Even though BCH is the most successful fork of Bitcoin so far, Litecoin sees itself as the next best crypto after Satoshi’s pioneering crypto.
As such, Charlie Lee got the heat from Bitcoin Cash supporters for stating that a “flappening” of LTC-BCH would happen this year. While that statement might have been borne of intent or even just jest, what it helped to do was reignite the debate about Litecoin vs. Bitcoin Cash. A few days ago, Lee tweeted about the matter again.
Earlier, the Litecoin Foundation leader had taunted BCH:
“Now I know why Bitcoin Cash (Bcash) supporters are so upset. For them, Bitcoin dominance has dropped to 4%”
The 4th vs. the 5th debate over technological strength, speed, fees and of course, market performance will be with us for a while longer, I presume. To a novice cryptocurrency enthusiast, the last yardstick is the easiest to fathom. All they need to do is to check on the market ranking sites or trading exchanges to find out about price movements.
To a layman’s eye, BCH’s current price of $651 is better than LTC’s $114. That could be true in terms of value, but a comparison of the two and how they have performed over the last few months can shed more light of their prospects.
Bitcoin Cash has its ATH on December 20, 2017 when it traded at $4355 and had a market cap of $65 billion. On the other hand, LTC had its ATH on December 19, 2017 when it traded at $375 and had a market cap of $19.5 billion.
A quick calculation tells us that since that time, BCH has had the worst time on the market compared to LTC. It has cumulatively lost 669% of its value since attaining that all-time high value. Comparatively, LTC has plunged close to 300% in the bearish hold began at the turn of the year.
Though not encouraging at all, we can say that in the current state, Bitcoin Cash has been hard hit and it would take a much more concerted effort to have it back to the glory days of over $4k per coin.
BCH vs. LTC- Q2 2018 and beyond
As market look to rebound after one of the longest death crosses, Litecoin’s founder beseeched LTC supporters to do more for Litecoin. LTC has had a fair share of its own disappointments in 2018, majorly highlighted by the LitePay debacle. The failure of the much anticipated payment system de-motivated the community and had a negative effect on its value.
The announcement of Abra wallet app for cryptocurrency exchange raised hope of a better run, but that too has tempered off. However, there’s a lot that could be going on for LTC to suggest a brighter future waits.
The recent announcement that the final stages of the Litecoin (LTC) and Aliant Payment Services partnership was done comes as a relief after Litepay disappointed. This partnership opens up LTC for further visibility, adding to its appeal as an ideal crypto for small and micropayments. It is going to take LTC to the street where vendors can now accept payments in Litecoin via the Aliant system.
Another platform that may help LTC is the Cryptanite wallet app platform that provides traders with a chance to trade LTC in 3 baskets of HODL, hood, and base at the click of a button.
Bitcoin Cash is the second priciest coin at the moment and that gives it some prestige. However, a lot needs to be done for the coin to truly say it can be better than BTC. Its comparison with LTC shows that it can more than match it in terms of speed and fees. In fact, late 2017 provided an instance where Bitcoin Cash was chosen over Litecoin due to its network’s superiority.
In choosing BCH over LTC, the Yours social platform said at the time:
For Bitcoin Cash, high speculation of a hard fork that will take place in May is fueling interest.
Its value will continue to rise even as the market looks to recover. Today the coin is trading +3.50% against the US dollar to signal a possible run. The crypto has also lined up more than 30 meet-ups in April alone, suggesting that they are out to get more visibility and adoption. At the moment, the CoinText initiative to use crypto to help bank the unbanked may happen using Bitcoin Cash. Its strength in restoring the value of on-chain scaling puts it in a strong position to attract more micropayment platforms.
In the foreseeable future, Litecoin (LTC)’s approach of mirroring Bitcoin Cash (BTC) seems set to make it push towards more recognition. BCH will meanwhile want to avoid a flappening. In the end, both coins could become good candidates for holdling.