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Litecoin (LTC) – The double-edged prospects of Litecoin as Bitcoin sidechain

Litecoin, LTC

For some time, Charlie Lee has pushed Litecoin as a complementary crypt to bitcoin. He also said that Litecoin (LTC) could be a sidechain for Bitcoin (BTC). This is a rather unique strategy given that most of the other scrambled are trying to compete with bitcoins (BTC) by overcoming them in technical skills. The beauty of this strategy is that if Bitcoin is successful, Litecoin (LTC) will also succeed. For example, if Bitcoin were to reach a maximum of $ 50k, Litecoin (LTC) would probably trade over $ 1000.

There are a number of factors that give Bitcoin such perspectives. The first is its network effect. Bitcoin is the most adopted crypt and is the first cryptography to which most people learn when they first come to the crypt. If coupled with the fact that it is scarce, there is no doubt that the bitcoin will be successful. In fact, there is a high probability that it could reach $ 100k in the future. Basically, it is an intelligent move by Litecoin to play a complementary role to bitcoin (BTC).

However, this involves risks. One of the risks is that Bitcoin (BTC) is working on second-level solutions that aim to make it easy to use for everyday transactions. For example, with the lightning network, Bitcoin (BTC) will be easy to spend and this will make many altcoins obsolete. One of the altcoins that risks becoming obsolete if Bitcoin's second-tier solutions are successful is Litecoin (LTC). Since it is positioned as a second-level solution for Bitcoin (BTC), there would be no reason for its existence if the lightning network is implemented on a scale on the bitcoin network. This is a serious risk for Litecoin's strategy of aligning too much with bitcoins. There is a possibility that Bitcoin (BTC) can achieve enormous success without necessarily having to drag Litecoin (LTC) with it.

On the positive side, Litecoin could benefit from the fact that overcoins tend to rise again when bitcoin is bullish. This means that if Bitcoin becomes bullish, it is likely that Litecoin and all the other altcoins will also meet. This would be a speculative gathering that would see all cryptos increase as well. This was the case in 2017 and most likely will be the case in the upcoming Cripto Bull Run.

Furthermore, Litecoin (LTC) is behaving well in terms of adoption. Litecoin (LTC) is one of the most used cryptocurrencies on the market after Bitcoin (BTC). This means that when the second-tier bitcoin solutions become a reality, Litecoiin will have established a strong market presence for itself, and this will anchor its value going into the future.

Furthermore, the half-life of Litecoin (LTC) will take place next year. If the history of Litecoin (LTC) is something to go on, then it could be started for a good run in 2019 and beyond. There are risks, but Litecoin's prospects look good for the future. A $ 1000 litecoin is very possible in the near future.

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