Litecoin price prediction for 2018 (after LitePay launch)
Last Wednesday, Valentine’s Day, Litecoin came out smelling like roses.
The cryptocurrency, considered the silver standard to Bitcoin gold, rose 34% in a matter of hours to hit a high of $327.
Litecoin founder Charlie Lee tweeted:
“LTC has surpassed BTC.” – (because he sold all his LTC).
Following a slew of positive news about the technology behind the LTC token, the cryptocurrency community is looking forward to Litecoin price predictions for 2018.
So we are working hard ahead of the game.
One of the factors contributing to Litecoin’s surge is due to the launch of LitePay, Litecoin’s new payment system, which the company launched on February 26th.
The technology allows users to buy and sell products anywhere Litecoin debit cards are accepted, or withdraw cash from compatible ATMs.
Although it hasn’t been widely reported yet, news broke that Microsoft had announced its intention to use the Litecoin platform as the basis for a decentralized identity system. LTC is expected to experience a bull market. This could surpass Bitcoin’s meteoric rise last year. Research analysts are already calling Litecoin a “game changer.”
“Litecoin users can convert Litecoin to dollars or vice versa through the Visa-compatible LitePay card, which can be used at any ATM or business that supports Visa payments.”
– Palwasha Saaim, Lombardi Financial.
What is Litecoin?
Litecoin, launched in 2011, eradicated some of the flaws inherent in Bitcoin. Litecoin is Facilitates financial transactions faster than Bitcoin At a cost of nearly zero, you’ll have four times as many coins as the major cryptocurrency – up to 84 million compared to Bitcoin’s 21 million.
A four-fold increase in coin supply and the ability to process transactions four times faster than Mother Coin allows Litecoin to The first digital asset to break the cash barrier It’s going into the mainstream.
Litecoin is also connected to the Lightning wallet, called “Trade for the Future.”
How close that future is remains to be seen, but the smart money says: Litecoin will be adopted by mainstream retailers. In the very near future. Probably this year.
why?
This is because the Lightning Network allows instant payments through blockchain and enhances security through smart contracts. Litecoin technology is also equipped to process billions of transactions per second with extremely low fees.
Considering the advantages Litecoin offers, experts expect the price of LTC to rise exponentially in 2018.
Additionally, as more retailers add Litecoin to their payment gateways, the number of developers actively interested in LTC tokens will increase and further improvements will be made. This will also affect the value.
But how much is Litecoin expected to rise in 2018?
Litecoin value today
One of the more conservative Litecoin price predictions came from Walletinvestor.com.
Market prediction sites predict future values through technical analysis of a coin’s historical movements. As of this writing, Litecoin is worth US$225, which Walletinvestor claims is close to Double to US$411.79 For 1 year.
Other analysts are more optimistic.
There is currently a lot of excitement surrounding Litecoin in the cryptocurrency industry. Some cryptocurrency commentators are predicting. LTC will break the US$1000 mark.
The general consensus is: User converts from Bitcoin to LTC Because transactions are faster and cheaper. And because LTC is currently undervalued.
For the price of Litecoin to rise above $1000, cryptocurrency enthusiasts and investors will need to consider the feasibility of the technology compared to competing currencies with similar features, namely Ripple (XRP) and Cardano (ADA).
Both rival coins are just as good, if not better, than LTC.
Litecoin has the potential to become the dominant digital currency, and with the limited number of virtual tokens, it is likely that more than one currency will be adopted by retailers and payment gateways.
However, the value of digital currencies can still be negatively influenced by financial institutions.
How do banks affect Litecoin price?
The slump in cryptocurrency prices in January was largely caused by pending regulations.
Banks in the US, UK, China and South Korea have blocked cryptocurrency trading and governments are announcing regulations. The Litecoin price increase on the 14th coincided with reports that the Korean government would make a U-turn on the Litecoin ban.
South Korean officials have hinted they may follow China’s lead and ban virtual voting entirely.
However, Bloomberg reported. Policymakers will focus on making cryptocurrency transactions more transparent. Introduce regulations consistent with other financial and tax laws.
The obvious question to ask is how much financial regulation will limit the growth of Litecoin and other cryptocurrencies.
Moreover, how will government intervention conflict with the long-term vision of protecting the financial system from the control of corrupt bankers and building a decentralized system?
Cryptocurrencies are not outside of regulation and installing financial controls on trading would actually stabilize a very volatile market. However, before the regulations came into effect, Market manipulators can execute pump and dump schemes It greatly inflates the price of Litecoin.
The most reasonable pricing structure we have seen for Litecoin comes from Longforecast.com. Steady increase with 202% increase Until the end of this year.
But keep your tokens safe as they could be worth $US1459 by the end of 2020.
The cryptocurrency looks set to survive another rough patch and 2018 could be the year that LTC becomes the household currency.
For more information, see our article explaining why Litecoin is a good investment.
What is your Litecoin price prediction for 2018? Let us know in the comments box below!
