Get comparisons, analyses and forecasts for stocks, ETFs & funds
Litecoin price prediction: ready for new highs?
Litecoin is an open source software project with peer-to-peer characteristics. This altcoin has been the industry leader since 2009 and has the reputation as the most secure cryptocurrency with unexplored potential.
Litecoin creator Charlie Lee sold all of his holdings in December last year. He’s now regretful about his decision but thinks this was the right long-term move as he tried to make Litecoin a truly decentralized cryptocurrency.
Litecoin has lost more than half of its value since its peak times, but here are some indicators that this cryptocurrency is poised to reach new highs:
- Coinbase is a cryptocurrency brokerage that supports only three cryptocurrencies, one of which is Litecoin. Coinbase is still witnessing a significant influx of users, which is a positive sign for the top 3 cryptos (Litecoin included).
- As an open source project, Litecoin has the flexibility to incorporate tech enhancements such as SegWit and the lightning network.
- It takes 2.5 minutes to execute transactions on Litecoin, whereas Bitcoin needs 10 minutes to do the same.
- Compared to Bitcoin, Litecoin transaction fees are negligible.
- Unlike Bitcoin, Litecoin reach is not as widespread—and there is some potential to reach additional masses.
- The presence of a platform known as lightning network helps with fast transactions.
On the negative side, you should be aware that Litecoin market development will be somewhat limited until scaling issues are fully resolved.
Regardless of what your position on Litecoin is, and whether you think this cryptocurrency is poised for new highs, exercise caution before making any speculative bets!
To get the latest price and news about Litecoin, please visit Finstead and type “LTC.X price” and “LTC.X news”.
Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finny Bites, please send us an email at email@example.com.