Litecoin is a cryptocurrency that entered the market in October 2011.This cryptocurrency can be used to purchase products or services. All transactions through Litecoin are highly secure and they are registered on a public ledger called Blockchain. Litecoin enables you transfer money to any country across the world. The transaction fees for Litecoin is significantly lower than all the major credit cards,bank transfers and online payment options.
The cryptocurrency market is highly volatile and this further makes it difficult for investors to choose the right cryptocurrency. In order to choose the right cryptocurrency, one should perform considerable research and should also get in touch with financial experts to choose the right one. Many websites and experts associated with litecoin forecast which would reach a value of $414 according to recent price trends. They are of the opinion that Litecoin is a very good investment choice for the coming years. They predict that the price of Litecoin would be around $1175 at the end of a five year period.
Furthermore, technical analysis of Litecoin suggests that investing in Litecoin could yield a profit of around 425% during the course of time of five years. According to MonteCarlo analysis, Litecoin price range could reach a value in the range of $6 to $507 towards November 2018.So one can easily predict, just like many other top cryptocurrencies in the market, the price of Litecoin can show a significant increase in the coming years.
Some analysts are also predicting that the price of Litecoin can cross the value of Bitcoin , which is currently the top rated cryptocurrency as well. This analysis is based on several facts such as the fact that Litecoin has displayed better growth prospects over the past year in comparison with Bitcoin. Litecoin is way faster than Bitcoin .The technology on which Litecoin is based on is way better when compared to Bitcoin.
On the other hand cryptocurrency experts such as John McAfee are predicting that the value of Litecoin will not increase more than Bitcoin. George Tung, another cryptocurrency analyst predicted that the price of Litecoin will reach a value of $1500 in 2018.Technology also plays a crucial role in predicting the future of Litecoin. Litecoin has recently split into Litecoin and Litecoin cash. Laitecoin is the technologically advanced version of Litecoin. After the split, Litecoin has performed very well in the consumer market. All this and the launch of new features will greatly contribute to the rise in price of Litecoin.