In the cryptic world, the analysts of cryptocurrency as launching large numbers anyway. Just try to look for the current value of Litecoin (LTC) and investors interested in LTC are offered with approximate approximations that the tokens could rise from $ 400 to $ 1000 by the end of 2018 alone.
However, unlike forecasts and forex, cryptocurrency prices offset some long-term price forecasts in the recent past. With this in mind, what are the chances that the current price of the LTC will soon rise to $ 1000 or even $ 10,000?
Insights from the historical data on Litecoin prices
LTC has successfully traded over $ 100 in November 2017. This implies that an investor who invested $ 200 in LTC in February 2017 obtained $ 5,000 as profits.
Does LTC appreciate more in value than Bitcoin?
The best backup for a value of $ 1000 or $ 2000 LTC by December 31, 2018, depends on how LTC is currently outperforming the BTC.
With BTC currently striking $ 7164.28 after a considerable period of increasing acceptance by investors, the miserable value of $ 67.78 of LTC seems to be peanuts in comparison. In 2018, however, the current BTC price rose only by 1300%. The LTC value, on the other hand, has risen to a surprising 2400%. More importantly, as we have seen with a mass virtual monetary value at the beginning of December 2017, LTC is currently recovering from price withdrawals more quickly and more positively than BTC.
The 4 optimal features of LTC
Forbes highlights four optimistic characteristics of LTC that will greatly determine its imminent value.
The initial is the growth of BTC and the future trading that push up the price of LTC. In other words, any positive change of BTC directly benefits LTC, not only because it exudes towards LTC and other virtual currencies, but also because the additional traffic in the BTC network promotes transaction costs and clogs the system.
The second feature is the considerable inflow into Coinbase, a trend in digital currency mediation. Coinbase supports three cryptocurrencies including LTC.
The third aspect is the mass adoption of LTC because of its similarities with BTC, faster transactions and cost-effective transaction costs.
Finally, LTC has recently gained a lot of attention from the media, so the currency has a free public eye.