It was a gloomy year for Litecoin (LTC) enthusiasts, but things are starting to look up again in 2019. Given LTC’s latest evolution, there’s every reason to predict a potential bull run in the coming days. In fact, industry insiders say that the litecoin price might cross the three digit mark.
But, how optimistic should you be? Put differently, is there any chance that you’ll make money with what was once regarded as “silver” to Bitcoin’s (BTC) “new gold.”
Why Would you Even Consider Investing In Litecoin? Well, Here’s Why?
For starters, Litecoin is an open source project. In other words, it can trigger and adapt to significant technological changes such as lighting network and SegWit. On top of that, it is relatively faster than BTC. More specifically, you can complete an LTC transaction in a reasonable two and a half minutes in comparison to ten minutes with the latter.
What’s more? LTC is an excellent alternative to BTC if you want to carry out transactions, with a near zero service fee. Besides, it is easier to mine LTC than BTC (even though some people may disagree), because it uses the updated Proof of Work algorithm.
And, did you know that Charlie Lee LTC’s founder is a former Google employee? What does that tell you? It brings in the reliability factor. Plus, Lee now heads Coinbase, dedicating most of his time toward ensuring that LTC breaks the barriers.
Is there any other reason you’d want to consider investing in this crypto-currency? Of course yes. It has a low market cap when compared to other tokens dominating the market right now. And to top it off, all hardware wallets support LTC.
So, What Makes Litecoin Such an Attractive Option in 2019 and Beyond?
In a bid to boost the acceptance of LTC as a mode of payment around the globe, the 5th largest cryptocurrency partnered with UFC to sponsor some of its matches. In essence, this means that the UFC is ready to work with LTC in the future. Now, in case you didn’t know, UFC has a market value of a whopping $7 billion! For those who can read between the line, this collaboration implies that the future of LTC looks bullish in the years to come.
UFC isn’t the only high profile organization that’s willing to work with LTC. Glory, an international kickboxing company, founded in 2012, sealed a partnership agreement with LTC in February. The teamwork will make Litecoin the first crypto to feature in the combat league. Glory says that fans can now use LTC to buy merchandise on the company’s official website GLORYshop.com.
The other collaboration is with C&U Entertainment. The partnership involved promoting LTC in the recently held “Fee the K-Pop Concert” at the George Manson University. During the event, fans were allowed to buy ULTRA VIP tickets in LTC. And guess what? These seats provided the best viewing experience. More than that, the Litecoin Foundation pledged to educate revelers about the power and impact of LTC.
Sure, these developments may not trigger a significant price change at the moment. Even then, it is encouraging that Litecoin is gaining more exposure. Oh and, UBER, the $48 billion dollar company prefers LTC over BTC. How about that!
Super Easy to Transact
Okay, by now, you now that it is more straightforward to transact with Litecoin than Bitcoin. Even more impressive, LTC is taking it to a whole new level. Soon, sending and receiving LTC will be as easy as forwarding a text message via your Facebook Messenger. While this hasn’t come to pass (yet), there’s no denying that it will be a game changer. And there’s the massive visibility.
What Lies Ahead?
It makes perfect sense to predict that LTC can hit the upwards of $200 in 2019. The evolution this year is incredibly robust, and there are signs of gradual recovery after a huge drop. Indeed, LTC fell from $300+ in December 2017 to $24 one year later. But now, the scene is starting to look green again.
LTC’s price is almost double what it was in December 2018 – a reasonable growth in three months. Also, the cryptocurrency regained its fourth spot on CoinMarketCap.
You may want to know that Litecoin passed Bitcoin Cash and EOS. Further, it lies behind Ripple (XRP) at the moment, even though the scenario could change in the days to come.
The positive movement witnessed on the market is what forms the basis of LTC price prediction. Besides, the token is up for halving this August. Essentially, this means that the amount of Litecoin mined will drop, thereby driving down inflation, which stands at 9% annually.
The halving will lower this figure to 4.26%. What does this tell you? Well, it implies that the 14,000 LTCs minded every day at the moment will decrease to 7,700 daily. The price is likely to shoot after halving because there will be fewer LTCs to mine per day – as was the case in August 2015. At that time, the price was $1.45, but the value shot to $7.76 in two months.
The Bottom Line
While Litecoin may have a long way to go, it offers an exciting investing opportunity if everything revolving around it is anything to go by. Keep in mind that the cryptocurrency partnered with Beam to work on the mimblewimble protocol and this could boost LTC’s usefulness across the globe.