Why is LTC (Litecoin) on fire?
Among the other hundreds of coins which are on the rise in the cryptoland, one of them is posed to potentially have an Ethereum-like explosion in value going into this year.
Litecoin has a lot on its horizon, and just a few people are even paying attention as Bitcoin has apparently been stealing the spotlight for the last half of 2017.
All things considered, Litecoin has already seen a tremendous growth in 2017. From January until now, Litecoin price has gone from trading around 5$ to currently trading around 92$.
But, where can we find a return like that in the stock market? Here, we are going to present you the three reasons why Litecoin is going to see massive growth throughout this year.
Litecoin could become the sidekick of Bitcoin, as a result of its atomic swaps feature.
A lot of cryptocurrency analysts, as well as inventors, predict that Litecoin has the potential to become the sidekick to Bitcoin, as a result of its atomic swaps feature.
Atomic swaps allow Litecoin to be exchanged directly into Bitcoin, without going through an exchange.
This is a technology which not only provides a much safer way to exchange Bitcoin into Litecoin, but it also provides a much less expensive way to transact. Now, Bitcoin is very expensive to send back and forth between exchanges.
To send 0.1 Bitcoin at the time of writing costs around 70$. But, if we had the potential to turn Bitcoin into Litecoin directly with no exchange fees, we could also send the Litecoin anywhere in the world, and it would cost pennies in comparison to the large mining fees associated with Bitcoin.
The market cap of Litecoin is a dwarf compared to Bitcoin.
Litecoin at the time of writing was at a $5.1 billion market cap. This sounds like a lot and sits currently at the number 6 spot on coin market cap. Put it alongside the amazing technology which is coming, as well as look at its total market cap compared to Bitcoin.
Litecoin is a tiny spec of dust in comparison to the $168 billion market cap that is Bitcoin. If Litecoin were to capture even a third of the current market cap of Bitcoin, as well as get to $50 billion market cap, that would set the price of Litecoin at 920$.
Although it seems a little bit crazy, it is a price which does not sound the smallest when you see the potential adoption by the masses coming in 2018 of Bitcoin. Litecoin is going to be right there to ride on its coattails.
Bitcoin seeing mainstream adoption is also going to mean Litecoin adoption.
The potential is mind boggling. If Bitcoin becomes mainstream and if everything goes smoothly with the CME group implementing futures, the price of Bitcoin in this year is going to be a number which will take people’s breath away.
If you thought that the year 2017 was a crazy ride, you just have to wait until this year. With masses pouring into Bitcoin, Litecoin is going to be right there to help ease the transaction costs, as well as act as the go-to coin for everyday payments.
Sure, there are also some other competing coins for the number 2 spot. However, most of the people that are new to cryptocurrency do not know anything else but Bitcoin. Once they learn something about the crypto space further, they are going to learn more about the “Big 3”.
Those three being Bitcoin, Ethereum, and Litecoin. It is just a matter of some months before Litecoin explodes, so make sure you get on the train before it takes off.