Litecoin to reach 1000$ from 200$ in 2018
As things stand, Litecoin has the 6th highest market capitalization, approximately 12 billion dollars, in the cryptocurrency world, trailing after Bitcoin, about 217 billion dollars as of this writing, Ripple, around $86 billion, Ethereum, around 69 billion dollars, Bitcoin Cash, around 40 billion and Cardano around 18 billion. Nevertheless, performance-wise, Litecoin has outperformed both Bitcoin and Ethereum over the past year, with appreciation values reaching 2000 %. Hence, attempting to make Litecoin price predictions for 2018 may be well worth our effort, regardless of the fact that all cryptocurrencies are very volatile at the moment, given their nascent state. Speaking about volatility RIPPLE is rending right now, you can read our article on Ripple price predictions for 2018.
- The Rate of Adoption Should Increase
Be it the abundant supply or the speedy transactions, the amount of people using Litecoin should increase in a somewhat exponential fashion. On the one hand, Litecoin, along with other cryptocurrencies, is tethered to Bitcoin, in the sense that the increase in usage of Bitcoin spells a higher rate of adoption for the rest of the cryptocurrencies. Evidence for this phenomenon can be witnessed by comparing the price charts of both currencies, at which point the correlation becomes unmistakable.
On the other hand, with both SegWit (Segregated Witness) and a Lightning network activated, Litecoin has the potential to scale far beyond anything Bitcoin is capable of at the moment. If you’re unfamiliar with what either a SegWit or Lightning network is, all you need to know is that they are technologies that enable cryptocurrency transactions to speed up while maintaining low transaction costs; hence, not only does Litecoin exchange hands faster than Bitcoin, but it also does this for a fraction of the cost, regardless of the number of transactions happening. All of these factors should influence any Litecoin price predictions for 2018.
- Litecoin’s Price Is Expected to Reach 1000 Dollars in 2018
16 weeks ago the price of Litecoin was hovering around the 80 dollar mark, give or take. Litecoin price was at $313 at the end of November 2017 and now is at $196. Should the rate of adoption go up, this should increase Litecoin’s price. Along with the rate of adoption and the general price movement of cryptocurrencies, a commensurate increase in the number of developers working on it is expected, which should fuel the price hike.
As a matter of fact, when Litecoins first came into existence, their creator, Charlie Lee, envisioned them as a currency used for transactions, whereas Bitcoin would become used as a tool to store value. Ergo, this is why Litecoin was dubbed as silver for the cryptocurrency world, whereas Bitcoin was designated as gold.
In addition to all of this, cryptocurrency investors attempt to hedge their exposure by diversifying their portfolio of digital coins. As a result, approximately 18% of people buying Litecoin use Bitcoin, strengthening the demand for Litecoin and cementing it as a major player in the cryptocurrency space.
For all of these reasons, it should come as no surprise that the price of a single Litecoin is expected to hit the 1000 dollar mark, if not surpass it. The problem is the fact that other coins doing the same thing are growing, and take the market share as it happened with Ripple and Cardano in the last couple of weeks. If I look at the number of coins versus market capitalisation is easy to say that at 100 billion capitalisation the price could jump to $2,500, but regulations and other factors will keep it to 1000$.
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