He was named silver in relation to Bitcoin gold, Lightcoin appeared on the platform in 2011, in order to help correct some of the shortcomings inherent in Bitcoin.
To this end, Litecoin was designed to offer a richer coin stock, the maximum amount of which is 84 million, to be exact, 21 million Bitcoin coins. In addition, the time required to complete a transaction with Litecoin is a quarter of the time required for the same transaction using bitcoin. This significant reduction in transaction time combined with a fourfold increase in the offer of coins, as expected, facilitated financial transactions with a reduction in the price of one Litecoin compared to one Bitcoin. With that said, let’s look at the 3 best price forecasts for Litecoin for 2018.
What are the price forecasts for Litecoin for 2018?
Judging by the monitoring, Litecoin takes the sixth position in the market capitalization, about 12 billion dollars in the world of crypto-currencies, lagging behind Bitcoin by $ 217 billion according to the latest data, from Ripple – to $ 86 billion, from Ethereum – to $ 69 billion, Bitcoin Cash – to 40 billion and Cardano – about 18 billion dollars. Nevertheless, compared to last year, Litecoin has surpassed both Bitcoin and the Etherium with estimates reaching 2000%. Therefore, the attempt to make price forecasts for Litecoin for 2018 can be worth our efforts, regardless of the fact that all the Crypto currency is very unstable at the moment, given their emerging state.
1. The number of users began to increase
The abundant stock of currency and fast transactions will attract even more people using Litecoin. On the one hand, Litecoin, along with other crypto currencies, is tied to bitcoin in that increasing use of bitcoins leads to a higher acceptance rate for the rest of the crypto currency. The proof of this phenomenon can be observed by comparing the price charts of both currencies, and at that moment the correlation becomes unmistakable.
On the other hand, both with SegWit (Segregated Witness) and with the Lightning network, Litecoin has the potential for scaling far beyond what bitcoin is capable of. If you are not familiar with the SegWit or Lightning network, all you need to know is that they are technologies that allow crypto currency transactions to be accelerated while maintaining low transaction support; therefore, not only does Litecoin exchange faster than bitcoin, but it does so at a small cost, regardless of the number of transactions. All these factors should influence the price forecasts for Litecoin for 2018.
2. It is expected that the price of Litecoin will reach $ 1,000 in 2018
The price of Litecoin at the end of November 2017 was $ 313, and now it is $ 235. If the speed of acceptance increases, this should increase the price of Litecoin. Along with the pace of adoption and the general price movement of crypto-releases, a commensurate increase in the number of developers working on it is expected, which should stimulate price increases.
In fact, when Litecoins first appeared, its creator Charlie Lee introduced them as the currency used for transactions, while bitcoin was used as a tool for storing valuables. Therefore, Litecoin was called silver in the world of crypto currency, while bitcoin was designated as gold.
In addition to all this, crypto-currency investors are trying to hedge their impact by diversifying their digital coin portfolio. As a result, approximately 18% of people buying Litecoin use Bitcoin, increasing demand for Litecoin and investing in it as a key player in the space of crypto currency.
For all these reasons, it is not surprising that the price of one Litecoin, presumably, will reach $ 1,000, if not exceed it. The problem is that other coins doing the same thing are growing, as happened with Ripple and Cardano in the last couple of weeks.
Little is clear to the experts why the value of Litecoin is so low. So, if you look at the number of coins compared to market capitalization, it’s easy to say that with a 100-billion-dollar capitalization, the price can jump to $ 2500.
3. Despite any optimistic forecast, the price forecast for Litecoin is fraught with uncertainty
Another factor with a big impact on the price of Litecoin and all other crypto-conversions in this respect are government regulations, especially those of the major players in the crypto currency area like China, Japan and the United States. This can be seen on a simple example – all the crypto currency fell sharply after China decided to ban bitcoin in September of last year, forcing all the crypto-exchange exchanges to close.
The natural question that should be asked at this point is to what extent any government agency can regulate the flow of Litecoin; in the end, the whole point of cryptovariance is that they are decentralized. Nevertheless, decentralization does not mean that Litecoin is over regulation. For example, if the US government decides to prohibit any company from receiving payments in Litecoin, this could damage the value of the digital currency. In addition, the government can close all exchanges of crypto-currencies, which China did, or ban the import and manufacture of ASICs (specialized integrated circuits), along with other equipment needed to extract coins. The bottom line is that governments around the world are not as helpless as some believe.
Are the rules unavoidable?
In a sense, you can say “yes.” To begin with, the astounding growth caused by several crypto-currencies, primarily bitcoins, over the last couple of years has spawned several scammers, including companies that produce misleading ICO. Moreover, despite a total of $ 600 billion, seemingly insignificant compared to the huge size of the 1.2-quadrillion futures market, the crypto-currency market is still significant enough to appear on the SEC and IRS radars.
In fact, it was announced that the IRS demanded from coinbase, a well-known crypto currency exchange website, to give out the names of all investors who made transactions exceeding $ 20,000 in the last year’s crypto currency. Consequently, it is reasonable that the more market capitalization of crooked fibers becomes, the greater the incentive should regulate them.
So, where will Litecoin be in 2018? The truth is that no one knows. We can make an assumption based on both past work and principles. Therefore, whether it’s basic technology or price increases this year, experts have reason to believe that Litecoin expects sunny days ahead.
To sum up, the price forecasts for Litecoin for 2018 are a delicate subject that requires serious control from different angles, and no analysis can ever be exhaustive. Despite the planned increase in the price of crypto currency, there is no need to rush to invest in Litecoin all accumulation, without exception.