How High Will Litecoin Go?
With the rising popularity of the Litecoin, everyone is asking How High Will Litecoin Go? People even start comparing it with the bitcoin, Ripple, and Ethereum.
But before assuming the future price of it we should know what is it?
Litecoin is a cryptocurrency. It is one of the early spinoff or altcoins of Bitcoin released in 2011. Similar to the other cryptocurrency, it is a decentralized currency which is not controlled by the government.
It processes a block in every 2.5 minutes which is much faster than the Bitcoin which takes 10 minutes. It uses proof of work algorithm for the timestamping scheme.
How High Will Litecoin Go?
Cryptocurrency is unpredictable even for the person who is following it for a long time. So telling the exact value of the cryptocurrency for the future is impossible. But by considering the few factors we can assume the possible value. Today we are going to discuss it and how high it will go?
When you compare the Bitcoin and the Litecoin you will find the difference between the fee structures. It is cheaper than the Bitcoin. This is the reason that the people will start transacting more. The more transaction means an increase in the market value of it.
Listing on newer exchanges
The demand of the Litecoin is increasing continuously. With the increase in the demand, exchanges have started taking interest in it.
This could be very helpful for the rise in the price. As the availability will raise the demand and transactions of it. It has lost its ground recently but this step can be helpful in the rise of the price.
There is a possibility in the spike of the market value of Bitcoin. This could be very helpful for other cryptocurrencies as well. As the rise in the price of Bitcoin will boost the price of it as well.
There is a huge market available at the coinbase exchange and is adding the new customers regularly. Litecoin is available on it for the trade which is the plus point for it. As this can boost the transactions of it which means an increase in the price.
Faster than Bitcoin
Litecoin is similar to the Bitcoin but a little faster and significantly cheaper. This factor has attracted the people towards it. Its network is providing a fast and secure network. This has provided the popularity among the people which is required by any cryptocurrency.
The last and the most important point which can give the shot in the arm to Litecoin is Media. As they are giving constant attention to the currency and making it popular. This is the way which can inspire the people to invest in other cryptocurrencies like it.
So the question How High Will Litecoin Go? Can be answered by considering the above-mentioned points. Though we cannot tell you exactly how high it will go but you can expect to be the next big thing in the cryptocurrency world.