Litecoin was released via an open-source client on GitHub on October 7, On October 13, , 5 days later, the Litecoin network went live. Developers have always stated that you can consider Litecoin to be the silver version of Bitcoin. Litecoin differs from Bitcoin in the prioritization of the transaction confirmation rate, which is approximately 2. However, the reality is that Litecoin users will have to wait up to about 30 minutes for their transaction to be processed due to network congestion.
Litecoin is especially faster at handling payments than Bitcoin and is an excellent, proven complementary alternative. In addition, the Litecoin community is working on the implementation of all kinds of new fintech gadgets that are actually intended for Bitcoin. Litecoin is certainly light and cheap, but above all in good hands with fantastic ambitions.
Litecoin has a bright future as a classic and reliable altcoin. Most investors see Bitcoin as gold and Litecoin as silver. Litecoin was developed as an alternative to Bitcoin and developed as a lightweight that solved some shortcomings of Bitcoin.
It is a classic altcoin with more than 6 years of experience and development behind it. Software updates and new tech can be easily added to Litecoin. As with Bitcoin, there is also a built-in scarcity. In total, only 84 million Litecoin can be mined.
Litecoin can be considered a much cheaper and faster alternative. In fact, Litecoin is underestimated relative to other cryptocurrencies. Bitcoin is slower and more expensive to use compared to Litecoin. The fact that Litecoin is fast and cheap has advantages, especially since people in third world countries without bank accounts can still get Litecoin cheaply and quickly. Litecoin is a superior alternative to fiat money when compared to Ethereum. Ethereum was not developed as money, but it can certainly be used as such.
You could rather consider Ethereum to be crypto gas. In addition, Ethereum is a much more difficult concept to grasp than Litecoin. Litecoin is just digital p2p money with a built-in scarcity that actually works faster as a transaction medium. This makes adoption much easier and does not require much knowledge. Simply install the wallet app on your smartphone, and you will have your own Swiss Litecoin bank account with which you can actually conduct transactions almost immediately.
As the popularity and price of Bitcoin increase and, therefore, the transaction costs rise, cheaper and faster alternatives will be sought. This is Litecoin, baby. Via the Remesas remittance platform, foreigners can send Litecoin to family members and friends in Venezuela who receive Bolivars in their local bank account through Remesas.
Another interesting fact is that the Litecoin Foundation has a 9. Litecoin can thus be recognized in the long-term as a possible cryptocurrency for buying real estate in Germany? Despite it not being a bullish period for cryptocurrencies until around October , Litecoin has performed reasonably well compared to its competitors. Charlie Lee is clearly doing really well; he finally introduced confidential transactions CT.
The acceptance rate is also quite high. Very recently, the Litecoin logo was even advertised on the UFC mat during a famous fight. It was a real eye-catcher. Furthermore, a new shopping center in Singapore with an ATM that accepts both Bitcoin and Litecoin has been installed.
LTC price prediction is very optimistic in the opinion of experts. Experts expect the Litecoin future to be bright in due to all integrations and partnerships. In addition, the Litecoin community is very active, with all the upcoming developments. They will, of course, keep the enthusiasts informed. There is a clear potential that Litecoin will rise further and is certainly a tough competitor for the other cryptos.
What will Litecoin do in the next 5 years? The cryptocurrency market is very volatile, which means that predicting reliable prices of cryptocurrencies is indeed one of the most difficult things to do. George Tung, one of the most respected cryptocurrency analysts, bet on LTC for almost 3 years already.
They may give us food for thought about Litecoin coin review:. However, according to its analysis, from July, the LTC will show some small but positive rises each month. Litecoin will definitely show a long-term positive balance starting from September.
There are no future big crashes to expect, and investors do have to consider this currency for investment. The negative tendency under the high volatility of the prices will most probably be kept for the next couple of months. EFA sees the potential in this cryptocurrency and, in the long run, predicts much higher returns.
Below, the table shows how much it can vary:. Similar to other agencies, it sees the climb of the currency starting from September; however, Coin Price Forecast has much higher predictions than other similar platforms. As a result, this projected growth is still a bit too optimistic; however, it is possible to be true, as Litecoin has dropped more due to external factors.
At the same time, any fast upsurge was followed by as fast a fall. Generally speaking, the current upsurge seems to repeat the previous spikes in Litecoin prices. So, be ready for a further fast bearish movement during which the LTC price chart may come close to the blue trend line. MACD readings are quite interesting here. The MACD line is currently located a little below zero, but far from the support level formed on the previous big movement to the downside.
In general terms, the weekly chart confirms that the current fractal is similar to the movement. The above signals indicate that the LTC future price will go on falling, but slower than in the past few months. Most likely, it will have come close to the trend line by the middle of autumn, LTC projected value being USD by that moment.
As a bearish trend is very likely to continue, short positions seem to be the best choice. I recommend opening trades once the Litecoin price chart consolidates underneath the latest local minimum at about USD purple solid line. Stop Loss should be placed at the latest local maximum of US dollars marked with a red line in the chart.
Here, you can find daily Litecoin short-term forecasts and trading signals based on the Elliott wave analysis. Zigzag-shaped sub-waves A-B have completed within the triangle. There is now forming the descending wave C. Let us explore its initial part in the eight-hour timeframe. After the B wave completed as a simple zigzag [A]-[B]-[C], the cryptocurrency pair turned down and started declining in the C wave. The C wave should be unfolding as a double zigzag [W]-[X]-[Y], as outlined in the chart.
The motive wave [W] has finished, the linking wave [X] has also completed, and the price is declining in the initial part of the final motive wave [Y], which is unfolding as a simple zigzag A - B - C , as outlined in the chart. The [Y] wave should finish at a level of The LTC price prediction is performed based on the fact that it is one of the most appreciated cryptocurrencies globally. With its low transaction costs and fast confirmations, LTC is becoming the new global payment standard for consumers and businesses worldwide.
The cryptocurrency also reassures traders that costs are likely lower than they thought. The processing fees are far less than those incurred by credit cards and other forms of payments. Even the integration is free. As Litecoin is steadily gaining more popularity, the acceptance ratio might also increase.
It is already high compared to the other newcomers. TradingBeasts estimates a far more positive tendency for LTC in rather than this year. According to the platform, LTC will keep increasing in , suggesting that investing in the coin may be wise. Wallet Investor also forecasts the rise of the currency in It is not yet clear what causes the positive dynamic: the fast drop in or market potentials. Similar to , Litecoin will have its ups and downs.
The table below describes its monthly tendency in detail:. Summing up, all the leading experts agree that Litecoin will show only a positive tendency to grow in LTC is steadily growing in popularity, which means that the acceptance ratio might also increase.
Litecoin price forecasts vary a lot. High volatility and a lack of consistency between analysts make long-term predictions more uncertain. The source forecasts the future rise of Litecoin. January and February of are expected to have market fluctuations. However, from March to May, lower price volatility is expected.
The Coin Price Forecast never changes its positive forecasts for Litecoin. After the decline in , they still leave some time for the coin to recover and, thus, do not hit too big numbers. The forecast seems quite realistic, despite some slight overestimations in calculations.
The third halving for Litecoin is set to take place in May This week, the Bank of Canada started tightening. Finally, there are concerns about tough regulations and higher capital gains taxes in the United States. The daily chart shows that the LTC price has been in a steep downward trend recently. This has seen it drop below the It is also between the lower and middle lines of the Bollinger Bands.
The bands themselves have widened, which is a sign that volatility is increasing. Therefore, in my view, while the correction is continuing, the LTC remains in a bullish trend. Follow us on Telegram and Twitter. Follow Crispus on Twitter. Crispus Nyaga Cryptocurrencies.