Many online commentators have given their own unrealistic predictions for Litecoin
. It is important to recognise that these are opinions of individuals and cannot always be considered reliable. However, one thing - which some cryptocurrency
commentators have pointed out - is certain. When viewed graphically, Litecoin is continuing to increase in value.
It's true that the market has become volatile in recent months and this can make predictions more difficult.
However, when the history of Litecoin is analysed, we can see it is a constantly improving coin. Litecoin tripled in value within a six-month time frame. This is an unprecedented circumstance that has excited investors.
We've seen recently that when Bitcoin
prospers, so too do other 'lesser' coins. This is exactly what has happened with Litecoin. Unlike some other currencies, Litecoin does not have such a volatile value. It is consistent and rising. The coin saw a significant climb in value due to increased publicity and investment hype. It then fell back down in value. This could be seen by some as a sign of the coin failing. However, it is clear that, from the beginning, Litecoin has had a steady price rise and the sudden climb can be seen as an anomaly.
When analysing the growth of Litecoin, we can see two factors. One is the aforementioned investment hype. Unrealistic predictions have had real-world consequences; they have affected the market. This can be seen in the sudden price rise in Litecoin.
There is another factor - the fact that Litecoin is organically developing. From the very beginning, we can see a pattern emerging of Litecoin steadily and consistently climbing. This means that investors should not look for a Bull Run scenario in this case. Instead, the key to seeing profit with this coin is to have patience.
Source: https://www.youtube.com/watch?v=nG-MDAoNvlQ - Great Video By CryptoJeremy
Featured Image Original Source: Pixabay