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Between EOS above and Tether below, Litecoin is the seventh most precious cryptocurrency in the world, by market capitalization. Together with the rest of the market, Litecoin's prices were wiped out in November 2018. They currently stand at just under $ 35 per coin.
Litecoin is nothing new at this point. Bitcoin forked cryptocurrency in the distant year 2011, and since it was used to demo the new features of Bitcoin, has gathered a bit of Bitcoin momentum during the slowest days of the BTC network, and served as a fast cryptocurrency and convenient to full.
What does the future hold for Litecoin LTC prices? The lows of the present year represent an opportunity to purchase Litecoin, or Litecoin is due to a further fall in prices. We will analyze several recent industry opinions to try to determine what are the most likely possibilities.
Industry opinions on the future of Litecoin
There are many people talking about the future of LTC. Many of them are not in agreement, but this does not mean they are all wrong. Here are some of the most insightful and / or provocative forecasts on the upcoming LTC price action.
- Multicoin & # 39; s Tushar Jain: LTC = "Relic significantly overrated". Ouch. Multicoin is a hedge fund and Jain is a managing partner. In a detailed report, Jain identifies several key vulnerabilities for Litecoin and anticipates that LTC prices will fall further and further down in the near future. For one, LTC is no longer the cheapest (per unit) currency on Coinbase, a factor that has made it popular with new investors. In addition, Bitmain owns more than 1 million LTC, a cache that could be used to increase the prospects of Bitcoin Cash. Finally, the Litecoin Foundation has just over $ 300,000 in assets, much of this tied up in LTC. This small financial track could prevent the significant development of Litecoin. Such a perfect storm could really prevent Litecoin from getting into a bull market, and could see it abandoning the top 10 and becoming obscure.
- Charlie Lee of Litecoin: Litecoin has "tremendous value". In a September tweetstorm, Charlie Lee exposed a passionate case for the intrinsic value of Litecoin. Citing Litecoin's usefulness in Bitcoin's Lightning Network, atomic swaps, strong community and ongoing Litecoin development, Lee argues that Litecoin's prices will increase significantly in a bull market. In a case like this, it is possible that LTC prices reach new historical highs.
- Arianna Simpson of Autonomous Partner: Litecoin "literally has no reason to exist". On the other side of the subject, we have venture capitalist Arianna Simpson who queries Litecoin on the existential level. She claims that Litecoin can no longer claim a strong use case as a test network for Bitcoin, or as a camp for the Lightning network. He also claims that the substantial sale of his personal LTC by Charlie Lee when prices were at their peak was an act of bad faith, one that anticipated an eventual erosion of the value of LTC.
- Regulated cryptographic exchange TD Ameritrade ErisX = Litecoin Futures. TD Ameritrade seems optimistic about the future of Litecoin, after adding it as an option for futures on their new encrypted exchange, ErisX. Futures played a major role in Bitcoin's history in 2018 and can serve as a reference for institutional investors to enter cryptographic space for the first time. If Litecoin demonstrates a popular futures trading option, then this alone could see the value added to the LTC price in the mid-term term.
So here we have four opinions: two optimists and two pessimists. To the optimists, Litecoin's prices are probably lower than we will see soon … perhaps never. For pessimists, Litecoin is a dinosaur in the blockchain space, one that can no longer make valid statements to unique and necessary cases of use. There are also other opinions out there. If you want to buy Litecoin, make sure you do your research and create an opinion that makes sense to you!
