Popularly dubbed the silver of the crypto space, Litecoin (LTC) came into existence in 2011 as a spin-off from Bitcoin core (BTC). Ideally, the crypto was designed to counter some of the flaws witnessed in Bitcoin such as low supply coins and longer transaction times.
When it comes to price prediction, no one can tell exactly what the future holds for any particular digital asset. However, crypto market analysts peg their decisions on performance and the fundamentals behind cryptocurrencies.
As I write this article, Litecoin (LTC) is in the seventh rank in terms of market size. The cryptocurrency is valued at $33.85 on CoinMarketCap, with a market cap of more than $ 2 billion dollars. As opposed to Bitcoin’s maximum supply of 21 million coins, Litecoin has a maximum supply of 84 million coins—exactly four times that of Bitcoin. As of this writing, 59, 363, 999 coins are in circulation.
Upon its inception, Litecoin significantly reduced transaction time. With increased coin supply, it intended to conduct financial transactions with lower fees compared to the BTC network.
Based on its performance in the past year, Litecoin’s appreciation values have hit 2000%. Therefore, even with the bearish market that currently dominates the crypto market, it is still worth the effort to discuss how the value of LTC might turn out in the coming year.
Litecoin projection 2019
To begin with, more users are likely to adopt Litecoin (LTC) based on its abundant supply and faster transactions. Like other cryptocurrencies, Litecoin is pegged to Bitcoin such that when more people use Bitcoin, more people are likely to use Litecoin. Besides, Litecoin has initiated SegWit (Segregated Witness) and Lightning Network to improve its scalability. These technologies facilitate faster digital transactions at low cost.
It is hard to tell the exact figures. However, Litecoin evidently performs better than Bitcoin. It’s faster, has real value, and its circulating supply is low. Besides, with crypto investors diversifying their portfolio in different coins, it’s apparent that a good number of Bitcoin users will also use Litecoin (LTC). This eventually creates a demand for LTC and solidifies it as a major player in the crypto space. These factors combined, give the cryptocurrency an optimistic outlook that could see the price of Litecoin shoot substantially in 2019.
On the other hand, government regulations might influence the price of the crypto, especially countries considered major players in the crypto space such as the US, Japan, and China. A typical example is what happened when China banned the use of Bitcoin in September 2017, which caused all crypto exchanges to close down.
Litecoin is one of the unpredictable cryptocurrencies in the market. In 2013, it grew then fell; bounced back in 2017 and hit its all-time high. As some analysts put it, the crypto could grow to $400 in 2019.
The grey area of the crypto space
Even with the expectations for Litecoin, the question of regulation poses yet another grey area in the crypto space. This might equally influence the price of Litecoin (LTC). Cryptocurrencies are decentralized, but that doesn’t mean they are above regulation. For example, if the US bans all payments in Litecoin, this might affect the value of the crypto.
This article is not a direct investment or trading guide. Consult an expert before you invest in cryptocurrency.