Litecoin Price Prediction
Litecoin is the improved version of Bitcoin and was launched to give direct competition to the existing cryptocurrencies in the blockchain market.Today we are going to discuss the background, comparison with bitcoin and also the Litecoin Price Prediction.
Litecoin was launched back in 2011 and now this open source cryptocurrency has the market cap of $3.49 billion and currently ranked as the 5th cryptocurrency
If compared with Bitcoin, Litecoin has fast transaction speed, the minimum mean time required for Litecoin is 2.5 minutes, it gives 50 LTC initial rewards and current reward for Litecoin is 50 LTC.
As Litecoin market is slowly surging up, therefore it’s important to have a look at Litecoin Price Prediction for the upcoming tenure.
Parameters for the Litecoin Price Prediction:
The success of the Litecoin is dependent few factors which further facilitate in determining its profitability and how well it is reaching out to the potential investors.
Popularity of the Cryptocurrency
The popularity of the Cryptocurrency can change the dynamics of the entire market. If Litecoin wants to secure a valid position in the market, it has to gain the trust of the consumers as well as the investors.
Currently, many cryptocurrencies are floating in the market and differentiation is the only way through which success can be achieved in the longer run.
Differentiation and availability of the cryptocurrency go hand in hand. If Litecoin is playing on the innovation then, it is supposed to introduce the easy-to-trade feature in order to gain the desired success.
When it comes to popularity then, Litecoin has succeeded to gain the attention because of the rapid boost in the market cap but this cryptocurrency is still supposed to explore technological zones for long-term success.
Litecoin Price Prediction:
The Litecoin is playing a major role in the development of the digital asset and the current growth trend makes it clear that this cryptocurrency will soon grab the 3rd position in the market with the highest market cap.
The prediction made by Litecoin experts indicates that this cryptocurrency is expected to cross $200.00 by the end of 2017. It means that investors will be getting around 225% of gains on the occasion of New Year.
The prediction of 225% gains might sound unrealistic but anything is possible in the cryptocurrency market and triple-digit gains aren’t something new for the investors.
As prices of the Litecoin are gradually surging up, it seems like the Price Prediction are becoming true. Though the summertime was really hard for all the cryptocurrencies now rapid change has been observed which indicates that Litecoin is surpassing all the altcoins with -12% market cap.
The ongoing trend chart (focusing on green lines) indicates that price of Litecoin is expected to move between $36 and $40 for a significant period. The market is currently trying to absorb the summer shocks and is likely to generate some positive outcomes for investors and miners in the upcoming tenure.
According to the analysts, Litecoin is also expected to cross the highest cut-off of $60, but this condition is likely to happen under the stable environment. The highly sensitive and unpredictable nature of cryptocurrency market should also be treated as the contributing factor.
A significant weight should be allotted to chances of correction because if a market is gaining higher highs or even if it is facing the very lower fluctuations, under such conditions the correction is likely to happen at the more frequent basis.
Correction is defined as the 10% pullback in the market caused by a number of reasons. Corrections are usually welcomed by the investors because it aims to amalgamate the market before reaching the heights.
Corrections are less dangerous because they don’t impact the overall growth of the market but the time between the market correction and crash should be properly examined for protecting the investor’s stake.
Crashes can make the market vulnerable and can decrease the entire profitability thus leading to the unattractive market structure for the investors.
Price Comparison between Litecoin and Bitcoin:
The monthly analysis between the two major altcoins indicates that LTC (Blue frequency) is showing the out-standing outcomes and overpassing the rates of Bitcoin. Currently, the market cap of Bitcoin is -16% and Litecoin is surpassing the -12% and approaching towards the -10% to -6%.
The market of Litecoin is expected to show some additional positive results in the future though analysts suggest that it is impossible to predict the sustainability of the altcoins because there are certain factors which could lead to higher market gains in lesser time or extremely downward movement.
Factors like Bitcoin splitting and correction time between Ethereum plays a crucial role in determining the market strength of Litecoin.
The market of Litecoin is showing the progress but this altcoin still needs to create a point of differentiation for gaining the attention of potential investors. Currently, Bitcoin is playing the major game in the market because it is expanding the horizons of its own niche.
The Ethereum market is progressing gradually because the market is playing on the basis of technology but Litecoin is still struggling to find its proper niche.
Once the proper niche is identified, it would become easier for the founders to create
the proper image in the mind of investors and influence their decision through trend
changing analysis. The statics indicates that Litecoin is currently lacking the proper
innovation. If the founder is smart enough to explore the opportunities then, nothing
could stop this cryptocurrency from surpassing the major market players.
You may also like to read our article on: What is Bitcoin Gambling – A Complete Guide on Bitcoin Gambling
The recent statics indicates that LTC rate has risen by 10% thus providing the overall
6.3% gains to the entire market. The immediate boost in Litecoin exchange rate
happened due to the unexpected ban-trade on cryptocurrency by China.
During the ban phase, the entire market was in the state of freefall and fluctuations
were happening on almost daily basis. But after some time market entered into the
recovery phase and all the cryptocurrencies associated with Bitcoin started to witness
an abnormal boost.
Litecoin was also amongst the surging ones and witness the price cut at the highest
$59.63 during the September. All the credit should be given to Bitcoin because its slow
growth has allowed the market of Litecoin to boom in the most unexpected manner.
The current predictions indicate that Litecoin market is all set to reach the higher highs
with $60 in the upcoming week.
If the trend continues with all the positive factors then, it won’t be difficult for Litecoin to
cross $200 by 2018. Though it is hard for some investors to digest the unexpected
boom in the cryptocurrency, we should not forget that Litecoin is the silver to Bitcoin.
The relationship between Bitcoin and its Lite version is very unpredictable and in sort of
disturbance in the market harmony could lead to improper functioning of the market
thus leading to lack of profit opportunities for the investors.
Currently, the Litecoin was trading between the highs of $75 and the current trading
level if $4000. This week the Litecoin is expected to cross the trading range of $5000
and can go up to $5222 during the writing hours.
It has been observed that Litecoin rate is continuously soaring up when linked with USD
and showing the growth rate of 6.68% from the last week. Indeed the progress of this
cryptocurrency is showing some tremendous results and bringing a lot of potential
investors on the same page.
The chart shows that currently, investors have a good opportunity of selling their Bitcoin in exchange of Litecoin. Rotations are expected to happen in the market but it won’t impact the current prices of Litecoin adversely.
It is true that rotations are nothing new for investors but the continued evolvement in the
market is information investors about certain upcoming crashes which might impact the
Bitcoin market adversely.