When you’re looking at Litecoin, it has fallen significantly from the levels of $375. That is why many investors are actually worried as to whether it will rise higher or whether it will remain at these levels. You need to always keep in mind that the news has not been good for Litecoin. Litepay also did not work out for Litecoin. This is one of the main reasons why it is not increasing in value significantly.
Moreover, some of the other cryptocurrencies have also overtaken by it. This is another reason why our Litecoin is not doing that good. That is why the confidence of most of the investors in Litecoin is fluctuating as well. It remains to be seen whether investors are able to gain back confidence in Litecoin or not. However, the truth is that there are 3 different factors due to which, Litecoin can increase in value in the upcoming future. We will discuss some of these reasons with you.
When you’re looking into the fees of Bitcoin, you will realize that they are very high. Similarly, when you’re looking into the fees of Litecoin, you will realize that they are on the lower side. That is why, whenever you’re looking into the fee structure, Litecoin will indeed gain a lot of traction as well. This means that more and more merchants will actually be using Litecoin. As a result, the circulation will increase. As the circulation and the demand increases, the price will also go up.
The listing on newer exchanges:
Another reason why Litecoin is gaining such a lot of traction is that it is getting listed on exchanges like Gemini. As a result, the demand for Litecoin is also increasing. When it is getting listed on newer exchanges, it will of course experience an impulse. If it is continuously getting listed on different exchanges, you can be sure that the price of Litecoin will go up.
Also, since it has fallen by a significant amount, there are high chances that it will recover some of the lost ground. When indeed, it recovers some of the lost ground, it will be providing you with great returns.
That is why; you have to always keep in mind that from current levels, Litecoin can appreciate significantly. You have to understand this point and thereafter, only, you will be able to understand why you should invest in Litecoin. Next time around, you’re confused about Litecoin; do keep these few factors in mind and thereafter only you will be able to understand why Litecoin will increase in 2018.
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Litecoin Predictions: A solidly built network that oozes potential in 2018
Although some altcoins are earning prestige and global relevance with each passing day, Bitcoin is still hands down the most prominent cryptocurrency in a market with increasing appreciation of the benefits that cryptography and the blockchain technology can provide transactions.
However, that doesn’t mean that there isn’t space for altcoins to grow, and solidify their spots as successful ventures and companies. Among them, Litecoin seems to be the preferred option for savvy investors in the crypto universe. For reference, altcoins are all the distinct cryptocurrencies from Bitcoin, the industry’s leader since 2009, and Litecoin may the best, most secure, and the one with the most untapped potential.
Abbreviated LTC, or Ł, Litecoin can be defined as a peer-to-peer cryptocurrency and open source software project. It functions under the MIT/X11 license, and Charlie Lee created and developed it.
As is the case with Bitcoin and most altcoins, Litecoin is a decentralized entity, which means that it functions without a central authority or governance agency. The system allows the creation and transfer of tokens, based on an open source cryptographic protocol.
The latest release of Litecoin is the 0.15.1 version, from March 2018. C++ is the code language, and the compatible Operating Systems are Windows, OS X, Linux, Android. The Litecoin Core Development Team is the one in charge of the development.
As far as the ledger information, the timestamping scheme is Proof-of-work, and the hash function works around with scrypt. There is a block reward of 25 LTC, approximately until 2019, halved roughly every four years. The average block time is 2.5 minutes.
Pros of Litecoin
Litecoin is an open source project, which means that it has the capability and flexibility to implement relevant and useful tech improvements, such as SegWit and the lightning network. In that matter, it is an improved Bitcoin version, which is logical since it was a fork of it.
It is considerably faster than Bitcoin, completing transactions in an average of 2.5 minutes, compared to the 10 minutes it takes to perform a similar operation in the latter.
It represents a cheaper option for people looking to perform transactions, with an almost zero transaction fee compared to Bitcoin.
The process of mining can be more straightforward on Litecoin than in Bitcoin (although that concept is debatable,) since it uses the new Proof of Work algorithm.
It was created by a former Google employee, which brings a sense of reliability and trustworthiness to the equation.
It has a less “toxic” community since it doesn’t quite have the reach of Bitcoin.
It is considerably less volatile during market crashes or corrections than some of its peers.
The developers and founders have shown excellent leadership skills throughout time: Charlie Lee left Coinbase as the head of engineering with the intention of focusing full-time on the Litecoin project.
There are atomic swaps between LTC/BTC.
The presence of the Lightning Network, a platform that fosters and promotes faster transactions.
The 84M total supply.
The market cap is very low if you compare Litecoin to other tokens at the top of the market.
Chinese people are fond of it, which is an excellent marketing development since it represents the most significant pool of potential users.
All hardware wallets support Litecoin.
Cons of Litecoin
People are still waiting for a counter-move now that Bitcoin added SegWit to its catalog of offerings. With that development, Litecoin lost one of the values that made it different.
Since Litecoin is a fork of Bitcoin, or a new version of you prefer the term, it implies that there will be few, if any, new and innovative ideas, which is something that altcoins have to offer.
Litecoin market will be somewhat damaged until Bitcoin’s scaling problem is solved.
The people’s perception may hurt the name of Litecoin. Numerous people seem to think that it is the same as Bitcoin. It may be some time if it happens at all before Litecoin reaches the prominence and sustainability that Bitcoin showcases every year.
Is It Worth Investing?
Bitdegree – The cryptocurrency market has grown quickly over the last year and has continued to do so in 2018. While everyone is talking about cryptocurrencies, there are still many questions to answer.
Are you confused if you should invest in Litecoin? Not sure whether the price will go up or down?
Well, here’s the good news: All your questions I will answer in this guide. I will cover the basics of Litecoin and share with you our favorite Litecoin predictions. It is difficult to predict the exact future of Litecoin, but we can help you make a better choice.
Litecoin is the 5th largest cryptocurrency, with a market cap of over $12 billion. So, what exactly makes Litecoin so popular?
An ex-Google employee, Charlie Lee, created Litecoin in 2011. Just like Bitcoin, Litecoin is also a digital currency. It is built on the same blockchain as Bitcoin and can be used to make payments. The biggest advantage that Litecoin offers over Bitcoin is – speed. In fact, Litecoin is called “Lite” coin because it is almost four times faster than Bitcoin.
Imagine that you decide to buy your next coffee using Bitcoin — guess how long you will have to wait? Around 10 minutes! This is because 10 minutes is the minimum time it takes to confirm a Bitcoin transaction.
Now, imagine that you pay using Litecoin instead – and surprise! It only takes 2.5 minutes to confirm a Litecoin transaction. So, it’d only be 2.5 minutes until you have your favorite coffee in your hands.