The only solution to forecast the Litecoin price is to make as much research as one can. We go through a number of studies of financial experts and try to bring top Litecoin predictions by them. You can use as a starting point to understand the market better. Well, this coins also attain media attention in the international market that’s why the trend analysis and forecast about Litecoins are being made on regular basis.
By the way, this coin has the potential to make growth at a sustainable level. Those experts who make Litecoin price predictions, according to them it will keep growing in upcoming months and years.
Brief History of Litecoin
Well, this section might be not of your interest but it will surely give you the core knowledge and facts about one of the top 10 cryptocurrencies in the world.
Litecoin (LTC or Ł) currently have 4,788,051,637 $ in market cap, it was released by Charlie Lee on Oct 2011. It is an open source, peer to peer cryptocurrency network, functioning under MIT/X11 license.
The idea was simple. Litecoin was to make a lightweight, easily spendable version of Bitcoin used for low-value transactions.
You will surprise to hear that Litecoin Blockchain is split from the Bitcoin Blockchain in that year because of the change in the algorithm as Litecoin used SHA-256 which reduces the block completion time to 2.30 minutes which is 4 to 5 times lesser that BTC block generation time. It has about 84,000,000 LTC from which 57,445,958 LTC are circulating supply.
There is a block reward of 25 LTC, approximately until 2019 and the timestamping scheme is Proof-of-work for its ledger.
We have witnessed few reciprocal growing in market cap of Litecoin, once in November 2013 when its prices increase 100% in a day and reached 1$ Billion in the same month. As we know Litecoin Blockchain provides fast and quick solutions so they don’t want to miss out any radical idea in the form of their growth. As a result of different ventures, 2017 growth is in front of you and Litecoin price prediction 2017 was proven right.
Litecoin Todays Price
Facts about Litecoin (LTC)
Litecoin Price Prediction
When it comes to Litecoin Price Prediction, people start comparing Litecoin with its competitor cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash etc. whether its competitors or Litecoin itself makes its impact?
No one knows what will happen in the coming year so exactly, but based on recent trends and projected growth one can make the prediction.
People from different walks of like are talking about this coin and this coin is one of the preferred options for crypto users.
If you confused in investing Litecoin and thinking that whether the price will go up or down?
Let’s try to make Litecoin forecast for 2018 or 2020. If we look at the stats, currently market capitalization of global fiat currencies is 5$ Trillion approximately and if Litecoin attains 2.5% of this asset pool. It would equate to a market cap of around $0.3 Trillion, which is quite feasible to achieve in near future.
Whenever this happens, The value of 1 LTC would equal…. 0.3 T/ 47 M = $6382 Approx.
Litecoin Price Prediction based on Bitcoin Performance
There is no doubt about the in the fact that Bitcoin Price Performance effects on the price of all the other cryptocurrencies. As we discussed different features above which shows the potential of Litecoin to grow higher than Bitcoin, however Litecoin (LTC) might lose some of its features in comparison to Bitcoin (BTC). So, before taking final decision take a deep look on all the factors.
Litecoin is a cryptocurrency based upon the same source code as BTC have with some minor changes. So if we want to sum-up our talk, we can say that worth of Litecoin would be 500% to 1000% extra in upcoming 5 to 7 years so it’s the perfect time to invest in LTC.