A Litecoin Forecast: Will Litecoin’s Price Continue To Rise?

After multiple requests from readers to analyze other altcoins other than Ethereum and Bitcoin, we felt it was time to write our Litecoin price forecast.

This article starts with an analysis of Litecoin’s current value which will be the basis for a Litecoin forecast (future potential). Our focus is on the following:

  • What drove the current increase in value?
  • How do gains stack against gains relative to current news events and against peers?
  • What the existing and future demand looks like

What Litecoin? Why Litecoin?

The official site Litecoin.com explains what Litecoin is. It is essential to understand what Litecoin is and does, before looking into a Litecoin forecast, even if most investors do not care too much about the technology.

Litecoin is a decentralized cryptocurrency created in October 2011. Litecoin can be used to buy services or products. It provides a safe and easy way for merchants to receive money as there are no fees to receive payments! All transactions are registered on a public ledger which is called Blockchain so payments can be immediately verified.

With Litecoin you can send money to anywhere in the world to anyone, instantly. The transaction fees are considerably lower than those charged by major credit card companies, traditional bank transfers and even online payment processors (think of Paypal). Traditionally, cross border payments have been several days before they arrive at the recipient’s end. There will only be maximum 84 million Litecoins so there is no worry about inflation.

The big difference with other cryptocurrencies is that Litecoin is faster and much more efficient in handling transactions. This article gives a more detailed comparison between Litecoin and Bitcoin.

Recent price evolution in cryptocurrencies and Litecoin

The months of June and July have been difficult months for Cryptocurrencies in general. The price of most altcoins retraced sharply after reaching spectacular new all-time highs.

Looking back at the last 3 weeks ending Sunday the 16th, we notice that one altcoin stands out compared to it’s peers. That digital coin is Litecoin.

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Comments

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Fabrizio Galvez 3 years ago Member's comment

Lets not forget what happened back in 2013.