Litecoin News Update
I hate to say it, but most cryptocurrency investors today are myopic in their investments. For instance, I see them sweating over Litecoin’s recent price slump under $300.00. I hear them complaining that prices have dropped 20% in the past week or so.
It’s funny because they conveniently select this timeframe to feed their bearish narrative. Obviously, their myopia has clouded their vision. Otherwise, how could they not see that Litecoin has been one of the best performers of this year?
Just extend the timescale a month or two back, and you’ll see what I’m talking about. Litecoin prices are up more than 200% in the past one month alone. In fact, Litecoin has far outdone Bitcoin with its remarkable performance.
The LTC price is up more than 7,000% in 2017!
For Litecoin, 2017 has been annus mirabilis—a year of great fortunes. From being an unheard-of crypto-coin to now being the talk of the town, Litecoin emerged as the only potent direct competitor to Bitcoin in 2017.
Everyone seems to be talking about this “digital silver” that is cheaper, faster to transact in, and has the potential to replace Bitcoin as the more viable digital medium of exchange.
Wait. If you think that this is it, that Litecoin has already seen its best days, then I must inform you that your myopia is once again getting the best of you because 2018 may turn out to be even better.
That’s because Litecoin is going mainstream in 2018!
Litecoin founder Charlie Lee has confirmed that Litecoin’s team of developers is in talks with numerous companies to start accepting Litecoin for payments.
Here’s the little Christmas present he sent to his followers on Twitter.
Although he settled the rumors by confirming that no Amazon.com, Inc. (NASDAQ: AMZN) or Facebook Inc (NASDAQ: FB) partnership was in the works yet, some other major companies are said to be on board. We can’t be sure of any names until an official statement is out, but rest assured that Litecoin is going one step forward in 2018, not backward.
Litecoin prices have seemingly found some support over $270.00 and volumes have stabilized. In the past 24 hours, however, the average LTC price hasn’t moved much. The average LTC to USD rate is currently a little over $284.00, with demand primarily flowing in from China and the U.S.
After having met our original price target of $200.00 for 2017, we’re confident that LTC prices will be spearheading $400.00 in 2018.
We’re remaining bullish in our Litecoin price prediction for 2018, just as we bid farewell to this wonderful year.