Litecoin Crash in 2018
Amid the euphoria surrounding the launch of Bitcoin Futures, the market has shifted its attention to another promising crypto—Litecoin, also called digital silver as it forked from Bitcoin—the quintessential digital gold way back in 2011. Litecoin touched record highs this Tuesday following in the footsteps of Bitcoin and Ethereum, which are also trading near all-time highs.
With prices at stratospheric levels, the next question that pops up is: How long will the rally last? The speculation surrounding the Bitcoin and Ethereum price crash has had its impact on Litecoin, with everyone asking: Is Litecoin going to crash? Is a Litecoin crash coming? We shall look into it soon, and before you ask if Litecoin will crash or whether the investors should be looking for a Litecoin crash in 2018, let us do a crypto reconnaissance first.
Litecoin is one of the top five cryptocurrencies in terms of market capitalization, behind Bitcoin, Ethereum, Bitcoin Cash, and Ripple. LTC is trading at around $300.00 now as compared to the situation in June this year when it was hovering near $50.00 levels. With four-digit returns in the year to date, it is natural to worry about when Litecoin will crash.
However, the recent launch of Bitcoin Futures has lent a kind of legitimacy to the popular cryptocurrency and resulted in a surge of interest from the investors, never witnessed before. For those who feel that they have missed the party, options like Litecoin are a great way to become a part of crypto space. For those already invested in Bitcoin, Litecoin offers such crypto enthusiasts a credible option to diversify their altcoin portfolio.
So, it is highly unlikely that a Litecoin price crash, if it ever happens, shall be long-lasting.
Can there be a Litecoin crash soon? Yes, it is possible. However, that would also mean that first Bitcoin, then Ethereum, and then Ripple shall be going down that path. If someone is afraid of this scenario, then he or she should not be invested in cryptocurrencies in the first place.
An LTC price crash has happened before and can happen again. However, as the cryptocurrency space matures and attracts more participants, Litecoin shall find itself on firmer footing than ever before.
Many critics are waiting for this cryptocurrency bubble to burst. But is the cryptocurrency bubble real? Again, there are no easy answers. There are many people who are not great fans of Bitcoin, but still, most of them vouch for the Blockchain technology underlying Bitcoin. Blockchain technology has numerous real-world applications and there will always be digital currencies around that would help in making the transactions more efficient and secure for the users.
With LTC prices also touching all-time highs now, it is easy to understand why everyone is asking if Litecoin is going to crash. And the answer to the question, “When will Litecoin crash?” is that it may happen tomorrow, maybe next week, or maybe next month. But, it is very unlikely that it will stay at those levels for long. And this is the important point to remember because cryptocurrencies are here to stay.