Litecoin
Litecoin (LTC) Prices Could Mark $400 in 2018
Litecoin is one of the few cryptocurrencies that recorded the highest gains in 2017—over 7,000%. In fact, Litecoin delivered five times better performance than its peer Bitcoin. It beat our initial price target of $200.00, forcing us to revise our Litecoin price prediction for 2017.
Like most other cryptocurrencies, Litecoin is not controlled by any central authority or regulatory body. It was launched in 2011 and uses Bitcoin’s blockchain model. But in many ways, it overcomes Bitcoin’s shortcomings, like scalability and timing issues.
Litecoin is touted to be the better, cheaper, and faster version of Bitcoin. Because of its SegWit activation—which is an upgrade to Bitcoin’s slower blockchain model—Litecoin not only settles transactions at a much faster speed, it also charges much lower fees for each transaction.
Unlike Bitcoin, whose founder’s identity remains unknown, Litecoin has been created by a known figure—former Google employee Charlie Lee—who holds a public identity and interacts with Litecoin investors directly and spontaneously on Twitter and Reddit.
In late December, Lee publicly disclosed that he sold all of his Litecoin holdings to remove any conflicts of interest that could exist due to him being an insider. His transparent dealings have lent a great deal of credibility to Litecoin, attracting more and more users and investors to its platform.
Lee initiated a mass marketing drive in the last couple months of 2017 to promote Litecoin to the average laypersons. He is promoting this digital currency as a better mode of payment than Bitcoin since it is faster, cheaper, and less volatile to transact in.
Lee believes that a few years down the road, people will be using Litecoin for their payment needs, while Bitcoin will eventually become a store of value.
Needless to say, we’re bullish on LTC prices in 2018. To read our daily Litecoin news coverage and our Litecoin price forecasts, stay tuned to our updates here.
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From: Michael Lombardi, MBA