The year of 2018 had been disastrous for Litecoin. When the price of the coin started depreciating at the opening of the year, a lot of people assumed it was just a normal retracement because of the massive leap that the digital currency had made at the end of last year. This time around, the trendline of the bears went too far. Sometimes, the digital money acts like it wants to continue a bull run only to end up making a notable decline than before. This has made coin holders to lose interest in the coin and opted to sell the coin at a loss.
Nevertheless, regarding the factors that are presently at play, Litecoin could be heading for better days. Due to some underlying improvements, the value of Litecoin (LTC) is expected to grow again anytime soon. Here are some circumstances that could cause this to happen.
What is Litecoin?
Charlie Lee, an ex-Google employee produce Litecoin, to had the imagination to build something which is lighter and cheaper than BTC, hence the name. On October 7, 2011, Litecoin was published by an open source client on GitHub. Litecoin is created from Bitcoin, with similar characteristics and features. So, it is the fork of the Bitcoin. Litecoin is an enhanced version of Bitcoin will lesser brand recognition.
Litecoin is one of the most under-valued and grounded cryptos in the world, being in existence for seven years since 2011. Litecoin is more convenient to the people than Bitcoin, hence understood as “silver” of crypto world and Bitcoin referred to as “gold” of the crypto world.
Litecoin price prediction 2019
People regularly talk about Litecoin and its main rivals, Bitcoin, Dash, Ripple, Monero, and Ethereum. However, what does the destiny hold for them? Could it be possible that LTC, continuing with a modern trend, keeps developing and tops the predictions set for this year? Some people are talking about an improvement that can take its value to the $500 or $600 limit, a tremendous percentage increase if sustained. There are at least five reasons for idealism when it comes to projecting Litecoin’s 2019 viewpoint. The first one is that Bitcoin’s growths and futures speculation, which spiked its values. We can reliably say that any positive progress in the Bitcoin community directly helps Litecoin, not only because it flows down to Litecoin and other cryptos, but also because the added traffic within the Bitcoin system drives up transaction fees and closes the system, causing migration towards the LTC project. Also, there is an abundant influx of users on Coinbase, which is a cryptocurrency brokerage that is trending at the moment. It supports three cryptos, one of them being LTC. Since Coinbase adds 100,000 fresh users per day, it is a positive gain. Additionally, people are beginning to come around Litecoin: they are starting to understand that, in some ways, it is related to Bitcoin, but is also faster and involves significantly lower transaction prices, to name an example.
Litecoin To Become Fungible In 2019 With Confidential Transactions
Charlie Lee, the originator of Litecoin (LTC) officially declared on January 28, 2019, that private transactions (CT) would be added to LTC. Though Lee didn’t define when CT is added to Litecoin, he did suggest that confidential transaction characteristics will be implemented in a future release of the full node during a soft fork someday in 2019. Lee has long been a proponent of privacy and fungibility on the blockchain and believes adding this feature to Litecoin will result in the cryptocurrency finally being recognized as sound money.
Litecoin price prediction in 5 years
The Litecoin price forecast is done based on the fact that it is the 6th most good crypto in the world. Litecoin price prediction implies that the Litecoin value is up for a long-term 962.28% in the LTC price with a 5-year investment, which indicates that in the year 2023, the Litecoin Price is projected to stand at $905.12.
As the currency is obtaining more popularity, the acceptance ratio is growing. It is already high as related to the other newcomers. The value is going to soar pretty high in the year 2022 and 2023, where it can join the 900 dollar mark.
If you’re in search of crypto in which you can fund in for the longer term, Litecoin might be a good choice for you. You must keep in mind that Litecoin would also imitate the trend in Bitcoin. Owing to this very purpose, during a bearish period in Bitcoin, Litecoin would also drive in the same way tentatively.
Disclaimer: This feature should not be exercised as, and is not designed to provide, investment advice. Coinpriceprediction and its affiliates, employees, and writers give the information about the coin with careful analysis. Please conduct your thorough study before funding in any crypto.