Litecoin (LTC) has been away from the spotlight for quite some time. This has more to do with other cryptocurrencies that gain traction than Litecoin (LTC) itself. The LTC / BTC daily chart above shows how abrupt Litecoin (LTC) declined compared to Bitcoin (BTC) from the start of the correction. It is interesting to note that the price is now on the same support line from which it started at the beginning and at the end of 2017. If the price should take off from here, this would mean the end of this correction and would be seen as beginning of a new cycle.
However, the catalysts that have pushed Litecoin's price (LTC) in the past may no longer exist! The biggest catalyst in charge of the massive Litecoin rally (LTC) in 2017 was Coinbase. When Litecoin (LTC) was added to Coinbase, it was the most cryptocurrency available for Coinbase customers to purchase. Since most of the Coinbase customers looking to find the next Bitcoin (BTC) are more interested in buying coins that are full of the portion of a large currency like Bitcoin (BTC), they rushed to buy Litecoin (LTC).
FOMO, as a result of Litecoin (LTC) is the cheapest Coinbase coin combined with the fact that Litecoin (LTC) at that time was seen as faster and cheaper than Bitcoin (BTC) convinced users who tried to hit big to fill their bags up the edge of Litecoin (LTC). This brought the price of Bitcoin (BTC) to new highs within a few weeks. In such a short period of time, Litecoin (LTC) was traded above $ 300 when only a few weeks before it traded below $ 100. For those lucky enough to have bought before April 2017, they could get a price of $ 5 for Litecoin (LTC)! For those who bought low and sold high, Litecoin (LTC) was one of the best investments they could have made in 2017 but now that Litecoin (LTC) is no longer the cheapest coinbase on Coinbase and Bitcoin (BTC) it is dealing with the problems that Litecoin (LTC) has decided to solve, what will be the future of Litecoin (LTC)?
The chart above for LTC / USD shows that Litecoin (LTC) had an incredible rally from April to October, but it did not stop here and it was made even more aggressive towards its ATH in December 2017. Litecoin (LTC) is not the only currency to have undergone a correction since then, and it is reasonable to expect that a currency will correct before its next bullish cycle. Most analysts say that not much has changed between 2017 and now and that such rallies are also possible in 2018 and 2019. They agree that similar gains are still possible over the next two years, given that we still have to see a lot of money in the game.
However, there is one thing that is changing rapidly since 2017 and now no one is paying attention. This is research, control and due diligence to invest in long-term projects. Until 2017, nobody really cared about what to invest. Everything was going very well and it did not really matter if you invested in Litecoin (LTC) or Ethereum (ETH) or in a small coin like Golem (GNT). However, the long period of correction has made investors much more cautious. They avoid projects that no longer serve a purpose and try to invest in projects that will continue to have a use case in 10 or 20 years.