Thursday, 16 August 2018

Where will Litecoin be at the end of 2018?

When it comes to price predictions, most people think that Litecoin would be able to close around $ 600 or so in 2018.
Currently, when you compare the cryptocurrencies on the market, Litecoin is one of the largest cryptocurrencies. Many of the institutional investors, as well as cryptocurrency funds, are also investing in Litecoin. This is the reason why transactions in Litecoin are increasing day by day.

If you’re looking to invest in Litecoin, you would be able to make some good profits throughout the year according to the Litecoin price predictions 2018. As always, it would be a good idea to diversify your cryptocurrency holdings and reduce the risk significantly.

Although some altcoins are earning prestige and global relevance with each passing day, Bitcoin is still hands down the most prominent cryptocurrency in the market with increasing appreciation of the transaction benefits that cryptography and the blockchain technology can provide.

However, that doesn’t mean that there isn’t space for altcoins to grow, and solidify their spots as successful ventures and companies. Among them, Litecoin seems to be the preferred option for savvy investors in the crypto universe. For reference, altcoins are all distinct cryptocurrencies from Bitcoin which is the industry’s leader since 2009, and Litecoin may the best, most secure, and the one with the most untapped potential.

Abbreviated LTC, or Ł, Litecoin can be defined as a peer-to-peer cryptocurrency and open source software project. It functions under the MIT/X11 license, and Charlie Lee created and developed it.

As is the case with Bitcoin and most altcoins, Litecoin is a decentralized entity, which means that it functions without a central authority or governance agency. The system allows the creation and transfer of tokens, based on an open source cryptographic protocol.

The latest release of Litecoin is the 0.15.1 version, from March 2018. C++ is the code language, and the compatible Operating Systems are Windows, OS X, Linux, Android. The Litecoin Core Development Team is the one in charge of the development.

As far as the ledger information, the timestamping scheme is Proof-of-work, and the hash function works around with scrypt. There is a block reward of 25 LTC, approximately until 2019, halved roughly every four years. The average block time is 2.5 minutes.

People continually talk about Litecoin and its primary competitors, Bitcoin, Dash, Ripple, Monero, and Ethereum. However, what does the future hold for them? Could it be possible that Litecoin, continuing with a recent trend, keeps growing and tops the projections set for this year?

Speaking of which, experts from various circles pointed out that Litecoin has the foundations to reach new heights in 2018. Some people are talking about an increase that can take its value to the $500 or $600 range, a tremendous percentage growth if sustained.

According to Forbes, there are at least five reasons for optimism when it comes to projecting Litecoin’s 2018 outlook. The first one is that Bitcoin’s growths and futures trading, which spiked its prices. We can safely say that any positive developments in the Bitcoin community directly benefits Litecoin, not only because it trickles down to Litecoin and other cryptocurrencies, but also because the added traffic within the Bitcoin network drives up transaction fees and clogs the system, causing migration towards the Litecoin project.

Also, there is a substantial influx of users on Coinbase, which is a cryptocurrency brokerage that is trending right now. It supports three cryptocurrencies, one of them being Litecoin. Since Coinbase adds 100,000 new users per day, it is a positive gain.

Additionally, people are starting to come around Litecoin: they are beginning to understand that, in some ways, it is similar to Bitcoin, but is also faster and involves significantly cheaper transaction fees, just to name an example.

The Litecoin network invites users who want fast, quick solutions involving cryptocurrency and the blockchain technology, and since they are popular right now, they won’t want to miss out on the revolution. As a result of that phenomenon, people prefer alternatives such as Litecoin than those that require more thoughtful research.

By Phyllis Lorusso
Legal disclaimer: The insight, recommendations and analysis presented here are based on corporate filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. They are presented for the purposes of general information only, and all the information belongs to the original publishers. These may contain errors and we make no promises as to the accuracy or usefulness of the information we present. You should not make any investment decision based solely on what you read here.

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