One can speculate as much as one wants about the necessity of cryptocurrency’s surfacing and the wholesomeness of its use, but the fact still remains that it has attained a firm foothold in our lives. Today, there exists around 1,000 types of cryptocurrencies, but the most popular still remains Bitcoins. However, certain specialists believe that very soon BTC may see a serious competitor – Litecoin (LTC). Despite that Litecoin has arisen as one of the Bitcoin forks, it has quickly assumed second place in the cryptocurrencies rankings. Of course, after other alternate coins have arisen, LTC has lost its standing. But currently, it remains among the crowd.
What are the advantages of LTC? Why is this cryptocurrency for many people obviously more lucrative than BTC? First of all, LTC operates on Scrypt, which significantly simplifies mining – each block is processes about in 2.5 minutes, meanwhile the segment’s processing in the Bitcoin system takes 10 minutes. Secondly, emission of Litecoins exceeds Bitcoins by 4 times! And if by the middle of the 2017 century, about 2/3 of all BTC were acquired, then in the case of LTC, significantly less than half have been generated.
Based on all of this, it becomes obvious that many miners are set on acquiring Litecoins in particular. And it’s not surprising that they are primarily interested in real income – the Litecoin to USD rate, dynamics, and prospects.
How the Litecoin rate changed
Today it’s hard to believe that when LTC just appeared in the cryptocurrencies exchanges, its cost over the course of a year did not exceed 10 cents, in other words USD 0.10. For this reason, this cryptocurrency, understandably, did not evoke a lot of trust. But then nobody could have guessed that everything would change so abruptly.
There was, of course, gradual growth. But it wasn’t stark enough to interest miners or traders. However, in the end of 2013, the cost of LTC increased by more than 5 times and by December the price of LTC reached a peak of USD 42.97! What caused this was an ordinary pump for the cryptocurrency market (purchasing of assets for artificial short-term boosting of the course). Then, did a drop occur as was expected? As a result, stabilization of the course occurred. Nevertheless, this jump did its job and people became interested in the Litecoin.
Of course, those who acquired LTC at that time had to wait a long time before making an income off of their investments. Since after this abrupt jump, the course of the Litecoin started to gradually, but fairly quickly drop. Thus, by the end of 2014, it amounted to 2.5-2.7 dollars. And never again did it drop lower than this value.
|Time||LTC course (in USD)|
|2013||Up to $0.10|
|November-December 2013||Up to$42.97|
|January 2014||Up to $23.70|
|June 2014||Up to $8.10|
|December 2014||Up to $3.80|
|July 2015||Up to $5.01|
|December 2015||Up to $4.80|
|April 2016||Up to $4.20|
|July 2016||Up to $5.10|
|Before April 2017||$3.60-7.10|
|May 2017||Up to $33.10|
|July 2017||Up to $55.10|
|September 2017||Up to $81.10|
|December 2017||Over $100|
As can be seen, the dynamics of the course of the Litecoin in USD would be hard to call stable. Nevertheless, it is positive. However, specialists advise not hurrying to make conclusions considering Litecoins simultaneously one of the most lucrative options, but one of the most unpredictable cryptocurrencies as well.
Litecoin development forecasts
As early as in the beginning of 2016, cryptocurrency traders hoped for Litecoin price USD to grow. It happened, but significantly later that people presumed. Since then, there are few people bold enough to predict or speak about the future trends of income potential off of Litecoins. Despite all of this, people speculate. Everyone makes his or her own conclusions as to what will happen.
Thus, the cause of the instability of the course and the obscurity of its prospects analysts believe to be the immaturity of the sector. Nevertheless, certain predictions are carefully made.
Thus, in 2018 Litecoin will not circumvent its direct competitor, the Bitcoin, but it fully is capable of challenging Ethereum. In the future, stabilization is expected in the cryptocurrency market. And, as happens with any sector, when stability is reached, only 3-4 major players will remain. In this case, experts talk about the current state of affairs. Currently, the upsides of LTC, first and foremost, can be stated as its direct line of development and lack of forks. Significant is that fact that over the previous several months, the rate of LTC grew tens of times. This means that one can presume that in the future investors will more actively migrate toward Litecoins.
The combination of all these factors provides a basis to presume that in 2018 the Litecoin price (USD) will reach $300-400. Of course, this will not be enough to emerge onto the Bitcoin’s level, so despite the expectations of many people, BTC will still for some time be at the top of the cryptocurrencies rankings.
All of these forecasts concern, of course, the buying and selling of LTC and mostly interest traders. But many miners also are interested in the course of the Litecoin and would like to understand whether it will be profitable to mine this cryptocurrency in 2018. Experienced miners don’t advise assembling a farm at home right now, since there are much less expensive options for acquiring cryptocurrency. And it’s worth using them (for instance, resorting to a cloud mining service). Since still not even half of LTC have been generated, the chance of acquiring and making money off of this cryptocurrency is available to anyone who wants it.