13 – Unlucky For Some But A Big Number For Litecoin

If you’re superstitious, then you might worry about the number 13, it’s considered as a number that brings with it a wealth of bad luck, from a western perspective at least, I’m not certain of the intricacies behind other connotations of the number 13. Actually, on that point, is cryptocurrency a good or a bad thing for superstitious people? I’ve never really given it much thought, but I expect many aspects of the cryptocurrency industry may give some superstitious people a bit of a headache. Back to the point. This weekend rumours erupted about a release date for Litecoin’s ‘smart contracts’, the 13^th of April specifically which is just three days from now. Remember that recently, we saw a marriage between Abra Exchange and Litecoin, in a move set up to help bolster the value of the currency. CEO of Abra, Bill Barhydt said:

“If Abra can attract a significant amount of users it will further drive demand for Litecoin which in turn could reduce the circulating amount of LTC, pushing the trading price up.”

Now unfortunately, many critics are calling the partnership a bit of a failure, generally on the basis that the partnership fizzled out of the news and didn’t really cause any significant changes in the value or perception of Litecoin. Recently, Cami Albert published an article on Crypto Globalist that refers to the Abra partnership as ‘Haunting’ Litecoin’s own Charlie Lee. According to Albert, Lee passed the following comments about the anti-climactic outcome of the Abra partnership:

“Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs.”

At present, even since the partnership, and the media buzz around April the 13^th, Litecoin stands at little below $114.00, in touching distance of a $120.00 target but still leaps and bounds away. Perhaps April the 13^th will actually provide some much-needed luck to the Litecoin team and give the currency the kick it needs to reach $120.00? The launch of smart contracts within Litecoin is innovative for Litecoin but we should remember that blockchain based smart contracts are not a new concept, so really, how incredible will this announcement be for Litecoin? Some sides are saying that the 13^th of April is a huge day for Litecoin and that things will really start to take off, it’s value will his $120.00 and many new people will gain an interest in the currency through Abra. Others however are less optimistic and believe that the Abra ‘flunk’ serves as a demonstration for how Litecoin will behave after the update in a few days, in-short they believe nothing new will change. Let’s face it, to truly understand the consequences of the smart contract rollout we just need to wait. The 13^th of April is only a few days away, perhaps we will see some fluctuation in market value as a result of it, perhaps nothing will change. Let’s wait and see.