Litecoin Price Forecast and Analysis – August 30, 2017

Litecoin
Credits:iStock.com/G0d4ather

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% for the week. In other words, whatever stillness existed on Tuesday is unlikely to survive beyond a day or two.

Some piece of Litecoin news might emerge to kick-start the price, or else an old development might fill itself out more thoroughly. Take, for instance, Litecoin’s integration of the Lightning Network.

Although this thoroughly impressive development was made possible by Litecoin’s earlier integration of Segregated Witness (SegWit), it is still in the testing phase. Full commercialization could become a catalyst for the LTC price forecast.

Advertisement

Bitcoin also implemented Segwit on August 1 (which led to the infamous fork of Bitcoin and Bitcoin Cash), but it has yet to fully embrace the Lightning Network. This is slightly ironic, seeing as Bitcoin was the original impetus for the network. However, its minor civil war pushed the Lightning Network into the background.

The net result is that Litecoin payments are faster than Bitcoin’s. What’s more is that Litecoin has essentially surpassed Bitcoin (technologically speaking only; it’s price is still way below BTC) with these achievements and is maintaining that technological edge.

Analyst Take:

An arm’s-length reading of this situation suggests that “brand power” is the only thing separating Litecoin and Bitcoin. Bitcoin was the first cryptocurrency and, therefore, commands a greater amount of publicity, which in turn draws a greater number of dollars to its coffers.

Over time, this disparity is likely going to erode. If (and when) it does, Litecoin could repeat its explosive performance from earlier this year, in which LTC prices surged by 1,450%.