In the digital currency world, cryptocurrency commentators and analysts love throwing big numbers around. Google the current Litecoin (LTC) value and anyone looking to buy Litecoin, will be presented with guess estimations that tokens could reach anything from $400 to $1,000 in 2018 alone.
Thankfully, unlike with stock and Forex market predictions, digital currency prices have made good on a number of long-term price predictions over the years. This being the case, what are the real chances of today’s Litecoin value rocketing up to $1,000 or even $10,000 in the foreseeable future?
Why People Looking to Buy Litecoin Need to Look at Historical Price Data
Litecoin (LTC) has successfully broken out past $100 in value in November 2017 alone. What this means, is that anyone who invested $400 in Litecoin in February of this year, is now sitting on over $10,000 in profit.
Of course, it is easy to look back in hindsight and realize that buying digital assets like Litecoin at the start of the year, would have been a good idea. What people looking to buy Litecoin today need to remember, however, is that the current Litecoin and (even current Bitcoin price), is still regarded by many to be extraordinarily low-cost.
Litecoin is Actually Appreciating in Value Faster than Bitcoin
The strongest argument for a $1,000 or even $2,000 Litecoin value by the end of 2018, rests with how Litecoin is currently outperforming Bitcoin.
With Bitcoin currently testing $11,000 after a phenomenal year of increasing investor attention, Litecoin’s measly $100 in value looks like peanuts in comparison. This year, however, the current Bitcoin value has only appreciated by 1,300%. Litecoin value, on the other hand, has appreciated by a staggering 2,400%. Much more importantly, as we saw with mass digital currency price corrections at the start of December, Litecoin is now recovering from price pull-backs much faster and more bullishly than Bitcoin.
Why is Litecoin Growing Faster than Bitcoin & Will this Trend Continue?
When looking to buy Litecoin or any other kind of digital asset, it’s easy to look at rampant growth and assume that such growth simply isn’t sustainable. There is a very strong argument to be made, however, that growth in the current Litecoin value is much more sustainable than whatever growth we might expect to see from Bitcoin in 2018.
To put things as simply, Litecoin is cheap. Average Litecoin transaction fees currently stand at just 0.001 LTC per transaction. Bitcoin fees, on the other hand, vary day by day with average fees currently sitting at $5-$6. What is more, Litecoin transactions can be processed up to 8 times faster than Bitcoin transactions.
Trading Litecoin is Becoming Much More Advantageous for Investors
As a rule, anyone with relatively modest capital should step as far away from the Bitcoin trading arena as possible. Because of the staggering 1-hour+ which it can take for Bitcoin transactions to complete, hundreds and thousands of dollars can be lost in seconds, simply due to transactions not completing prior to volatile price pull-backs.
Thankfully, the Litecoin blockchain isn’t burdened by such increased risk when it comes to trading. This being the case, as more investors and traders start to take digital currency seriously in 2018, it’s highly likely that Litecoin will start to be traded in much higher volumes as people choose it over BTC.
Halving & Future Bitcoin Market Cap Expectations
Because almost all digital assets have their supply cut in half every 3-4 years, there are definite points in time where digital currency prices can be effectively predicted to double in a very short space of time. This is important, as halving the number of new Litecoins coming into circulation will take place in just 20 months time.
The above being the case, simple logic dictates that if Litecoin continues to follow the path which it is currently on, a $1,000 or $10,000 2020 price is a very real possibility. The only question is, are you prepared to buy and hold now in order to eventually realize the returns you have already missed out on by not buying in at $4? .