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.
UNSTOPPABLE BITCOIN HEADED TO $50,000?
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Will Litecoin prices fall below $50.00? That’s probably the most important question for the short-term Litecoin price forecast, but it’s unlikely to matter over the long haul. Long-term forecasts depend on underlying factors that investors are ignoring, such as Litecoin’s ability to popularize micropayments or its ability to…
As investors move beyond the dismal Litecoin news from last week, it’s becoming clear that a recovery won’t happen overnight. In the last 24 hours, the Litecoin to USD exchange fell 3.15% to $52.63, while simultaneously falling 1.68% against Bitcoin. LTC trading volume came in far below average,…
While most of the cryptocurrency market hit the snooze button on Monday, Litecoin traders were up and about. More than $408.0 million worth of LTC coins changed hands as the Litecoin to USD exchange rate jumped roughly 4.11%. Litecoin also gained around 2.9% against Bitcoin, possibly balancing for…
Despite China taking a bat to Litecoin’s knees, the Litecoin-to-USD exchange rate bounced up about 9.68% to roughly $51.89. “What explosive piece of Litecoin news caused this rally?” you ask. Oddly, nothing in particular. This was a see-saw moment for Litecoin prices. After tilting hard towards the bearish…
It’s a bloodbath out there, folks. As predicted, the Litecoin news coming out of China has wreaked havoc on its price, driving the Litecoin to USD down about 31.73% to roughly $38.10. Litecoin hasn’t traded at these levels since the start of the summer, when it was riding…
In an unexpected twist, today’s Litecoin news revolves around Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM), and an obscure Chinese think tank called China’s National Internet Finance Association (NIFA). Let’s start with Wall Street’s poster boy. While speaking at a conference in New York, Dimon claimed…
Rumors that China will close its cryptocurrency exchanges cast a shadow over the Litecoin price forecast on Tuesday. Except that this time, the rumors came from no less than The Wall Street Journal. (Source: "China plans to close the Bitcoin trading platform," The Wall Street Journal, September 11, 2017.) Naturally,…
In the last 24 hours, Litecoin prices jumped nearly 5.76% against the U.S. dollar and roughly 2.57% against Bitcoin. The LTC to USD exchange rate is currently sitting at $68.32 at the time of this writing. Any Litecoin news there was took a backseat to bigger industry trends…
In the last 24 hours, LTC prices bounced up 5.85% against the U.S. dollar and 4.47% against Bitcoin. These numbers are based on the best information at the time of writing. There was scant Litecoin news to buoy investor sentiment over the weekend, yet the beleaguered cryptocurrency managed…
LTC prices are back down to near $64.31 and the culprit is quite obvious: reduced trading from South Korean exchanges. That was the pivotal piece of Litecoin news this week (because China's crackdown on initial coin offerings applies more to decentralized application blockchains like Ethereum). We wrote in…
After a Chinese ban on initial coin offerings (ICOs) came into effect earlier this week, cryptocurrency value plunged across the board. Bitcoin, Ether, Ripple, and Litecoin all took double-digit dives on Monday. But the industry is already in recovery, with LTC prices crossing back above $80.00 at the…
LTC prices appreciated by roughly 9.5% yesterday, following what can only be characterized as a stampede out of crypto markets on the Labor Day weekend. It was broad-based industry trends, rather than a single item of Litecoin news, that drove the price movement. Overall, the crypto market cap…
LTC prices were on a roller coaster over the long weekend, but so was the rest of the crypto market. There was a steep climb, a glorious moment at the peak, and then price support gave out. It’s important to note that the entire saga was triggered by…
In an extremely positive move, LTC prices continued to rise on Thursday, skyrocketing roughly 14.78% in the past 24 hours to around $76.85. It is the first time that Litecoin made it over the $70.00 hump, making it one more piece of bullish Litecoin news. In reaching these…
Unlike some of the other cryptocurrencies, Litecoin’s rally is not tied to geography. Its trading volume is spread across the globe, with some of it coming from China, Korea, and the U.S. Some of it also came from existing Bitcoin investors. The broad-based rally in Litecoin news helped…
Litecoin News of the Day Don’t be fooled by the momentary calm in the cryptocurrency markets. We are in the eye of the storm, and it won’t be long until volatility returns. LTC prices may have only moved less than 0.5% on Tuesday, but Litecoin is up 27.35%…
Litecoin Poised for Rally in Fourth Quarter As the price of Litecoin climbs to record highs, it appears our LTC price forecast is on track to come to fruition earlier than expected. For those who may be unfamiliar with our Litecoin price prediction for 2017, it shows the…
It’s no wonder that LTC prices hit an all-time high on Monday. As explained in our previous Litecoin price forecast, investors are unraveling their post-fork positions in Bitcoin and dumping some money back into second-rung cryptocurrencies like LTC and XRP. This is evident in Litecoin’s depreciation against Bitcoin…
Litecoin is often referred to as “the silver to Bitcoin’s gold,” yet it has fallen out of sync with BTC prices in recent months. This divergence—which started in mid-July and festered through August—is creating tons of slack in the Litecoin price forecast. For example, the LTC/USD exchange rate…
From: Michael Lombardi, MBA