Litecoin - $200 and beyond
Litecoin has doubled in last week and has been gaining ground on valuation within the crypto-currency space. It has come a long way since start of the year when it was quoting below $5.
What is causing this spike? Charlie Lee has gone on offensive with a lot of media presence recently. Bitcoin transaction costs and increasing mempool is giving him enough fuel to help grow Litecoin support recently. Of course, the major reason for this is that Bitcoin has hit the stratosphere recently and went up to $17k. Overall, as bitcoin keeps the frenzy going and as it looks more and more out of reach to newbies, you will see other alternatives rising fast.
Litecoin has a few things in its favor. It has built a decent platform and it is slowly increasing adoption across the board. The biggest success of Litecoin is the listing on Coinbase exchange. Coinbase is adding users at a pace never seen before. Recently Coinbase app went above Youtube on Apple App store. As new users signup they are too scared to touch a flaming hot bitcoin and look at more affordable looking Litecoin and grab a few. This is a typical naive behavior of small investors without really understanding the fundamentals.
I have written a few times already. Litecoin and Dash will continue their march upwards along with bitcoin as the market expands. New investors are going to buy altcoins due to FOMO. They feel they already missed bitcoin due to recent upmove. And of course, there is some genuine reason for the world to have more than one digital currency as we can see from recent network clogging at bitcoin and ethereum.
My personal target is $1000 for Dash and $300 for Litecoin in next 3 months. Let us see how far we can go as crypto world goes mainstream in 2018.
I did not expect the targets to be achieved so fast. The market is becoming frothy again. The fundamentals may be there but technically it is risky. Ride the wave...
I think $300 LTC is definitely going to make your 3 month target. Not sure about DASH however, as they are focusing on truly emulating cash, and focusing on quick cheap payments (now with their latest software release they are getting sub-cent transaction fees, depending on the input counts). I have noticed that DASH seems to avoid major swings in value % wise, probably because the masternodes have staked so many coins as collateral. This also effects its rate of climb, as so few are available for trading. Both of these fast coins will play a major role moving forward in my view, with DASH having the upper edge because of the option to use private send, and remain anonymous to whomever gets a payment from you.
I agree with your analysis of Dash. While sending anonymously is a plus, it also adds to uncertainty as governments will have more reasons to block it or ban it. I think the overall user experience of integrating into an Apple Pay kind of app will define who gains the upper edge in mainstream usage.