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Litecoin (LTC) is one of the tokens that has been on the market for a decent time now, but even if it is one of the oldest coins in the crypto environment, its prices continue to be below the expectations of many, a fact that raise much concern and doubt that the currency is undervalued or not. Indeed, there are strong reasons for believing that the currency will very soon outweigh the three-digit prices. Let's see the main reasoning behind this hypothesis.
The science behind the coin
Litecoin (LTC) was launched on Github on October 7, 2011, a currency that was designed to be virtually identical in its technical aspects to the Bitcoin industry leader (BTC). In fact, it was created as a fork open source of the first cryptocurrency ever launched on the market, and has since represented silver for the pseudo-gold representing Bitcoin (BTC).
Even when the similarities are so many, Litecoin has come a long way from where it started in 2011, having one of the strongest features in the industry in terms of cost and speed. However, its performance is still below one of the market leaders as the altcoin trades at a price that is thousands of times lower than the price of bitcoins, and because we believe that this is not actually a thing specifies considering what cryptography has to offer to both enthusiasts and investors.
Actually, the market conditions at the moment are not the best to consider, and this is something that has hit every single currency on the market, including, of course, Bitcoin. But if we take into account the normal conditions of the sector, Litecoin (LTC) has one of the strongest and most stable performances of all.
Under these regular conditions, Bitcoin was one of the largest investments, representing a large deposit of value for a group of investors and enthusiasts. But the truth is that the industry leader still has much to improve in terms of speed and transaction fees, a sector in which Litecoin has managed to offer operations that require just 2.5 seconds and with incredibly low costs.
In this way, it is worth mentioning that one of the main usability for cryptocurrencies serves as a payment method, and this is something in which Bitcoin clearly has the advantage of being adopted on several mega websites. Nonetheless, Litecoin could see a higher uptake considering the fact that what it has to offer is better, the transactions are actually cheaper and require less time.
Once the market has started to rise again, a massive take-up of Litecoin could skyrocket the price of money, although it is possible that LTC will reach the expected number of 1000 US dollarsbut in order for this to happen, one of the things money must get rid of is the relationship with Bitcoin (BTC), a fact that seems to be more harmful than useful.
Litecoin is actually the only competitor Bitcoin has, because even when Ethereum (ETH) is closer in numbers, the krypton is very distant on its target and this places LTC as the most likely competitor, so instead of considering the Silver for Bitcoin gold, Litecoin should be labeled to the same extent of importance of BTC.
The current price of Litecoin (LTC) is $ 83.07 per currency, the token has increased in value by more than 10% in the last 24 hours, and its weekly uptrend should continue to strengthen now. So things could change sooner than expected. Stay tuned!
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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