Last year was great for cryptocurrencies. In fact, they had the greatest single-year performance in history. After the promising $17.7 billion market cap at the beginning of 2017, the cryptocurrency market finished 2017 with a combined market cap of $613 billion which represents an increase of the value of more than 3,000%.
Additionally, 2017 was time of dominance for the leading cryptocurrency, Bitcoin. As the first cryptocurrency with the option for trading back in March 2010, the reign of Bitcoin is what brought blockchain technology to the spotlight. Bitcoin was also bought for exchanging popular digital currencies on decentralized exchanges – but also an investment that made a lot of people rich.
Despite the surge of Bitcoin that came close to the $20,000 mark, the leading cryptocurrency is now above $10,000 in terms of value. As consistent as it has been, Bitcoin is going to shades according to some experts. The big question is – which cryptocurrency has the power to replace it?
Many fingers are pointed to Litecoin – the cryptocurrency with a massive potential out there. The truth is, as Bitcoin has grown in terms of popularity, some of its flaws have become visible. From the approval for upgrades to the open-source network vulnerabilities, Bitcoin’s flaws have caused numerous forks, creating new digital currencies in the process all while relegating Bitcoin to a slower and pricier network.
The average Bitcoin transaction takes longer than an hour to process – and the fees are around $28 – which makes it the same cost as a bank wire transfer and makes Bitcoin a poor choice for daily transactions.
Litecoin, on the other hand, is often described as “bitcoin Lite” and considered to be in cooperation and not in competition with Bitcoin. Recently, Litecoin implemented SegWit which has boosted their capacity of handling merchants and transactions and ramped the processing speeds while lowering transaction fees. Bitcoin, on the other hand, was supposed to implement the technology but couldn’t gain the needed consensus to do so.
This certainly gives an advantage to Litecoin and puts it in the spotlight for being “the best” (performance-wise) cryptocurrency out there.
What do you think?
Bitcoin (BTC) Price Moves Closer To $7,000, Stellar (XLM) With A New Meteoric Rise
Will The Litecoin Price Skyrocket Like Bitcoin In 2018?
has the sixth highest market cap at about 12 billion dollars. The Litecoin price, on the other hand, has been up and down with the recent trends. However, the massive potential for implementation of the cryptocurrency makes many people confident about its future.
As far as performance is concerned, last year was a great success for Litecoin, surpassing both Ethereum and Bitcoin with a rise in the value up to 2000 percent. However, making price predictions for this year will not be an easy task, regardless of the fact that every single cryptocurrency is very volatile at the moment. The number of people who are using Litecoin should increase because if many people are adopting Bitcoin, the adoption rate for other cryptocurrencies will rise as well. You can compareso you can see this phenomenon.
The development of Litecoin also depends on the faster exchange than Bitcoin and also the low costs it offers no matter of how many transactions are happening. Another thing that you should take into consideration is government regulations especially from the major influencers like China, Japan, and USA.
The truth is that we nobody really can tell you for sure, we can all just make a guess based on the performances on every cryptocurrency in the past year.
Should You Invest In Litecoin (LTC) In 2018: Explained
As you know,is a cryptocurrency that emerged as a fork from Bitcoin. This currency got very popular in a very short time and impressed investors who tried to diversify their currency portfolio. If you are looking to invest in Litecoin (LTC) in 2018, you should know the following...
Because of its advantages, Litecoin is able to generate a block in less than 3 minutes and make a faster transaction compared to Bitcoin. This is very important for the miners because they use hardware to mine on the Bitcoin network so it is very hard to switch to Litecoin. This is good because there won’t be large groups forming and mining Litecoin so it will be easier to keep Litecoin decentralized.
Many experts believe that the adoption rate of Litecoin will increase this year which will lead to a growth in price. Of course, we can never know how big of a jump that would be. The adoption rate should increase because Litecoin has a lot more coins in circulation so it is more affordable. Also, both the lightning network and SegWit are activated so Litecoin has a great chance of dealing with scalability problems. So, why invest in Litecoin in 2018?Well...
Litecoin is currently the 6th cryptocurrency by market capitalization with a market cap of $8.26 billion dollars. You can see the price analysis.
Last year, it proved itself to be a great currency even outperforming Bitcoin and Ethereum, but it is, however, very difficult to make any kinds of predictions because of the volatility on the market.Did this convince you to invest in Litecoin now? Or will you maybe wait for better times? Let us know in the comments!
P.S. Make sure to get updates on Litecoin daily onwebsite!
Litecoin Transaction Fees 20% Higher Than Bitcoin Cash: What Happened?
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