Litecoin as a cryptocurrency, is currently subject to a period of ‘undervaluation’. This is of course mostly as a result of the market crash that saw cryptocurrencies stoop from all time highs, to frankly devastating lows. Litecoin is one of the currencies that has experienced the full force of this. Whilst near-rivals such as EOS have proved to recover from this period, Litecoin is still making steps along that trajectory. With this in mind though, there are plenty of reasons that justify claims, that Litecoin will skyrocket once again, in 2018.
Litecoin peaked at $366.15, before stooping to $114.23 as a result of this crash. Now, at the time of writing, Litecoin is valued at $119.82. This doesn’t prove an inability to recover, instead, it just proves that Litecoin is still undervalued, yet does have the potential to grow once more.
Central Five Media, famed cryptocurrency and finance bloggers, have recently uploaded a video stating three of these reasons, check the video out for yourself, here- https://www.youtube.com/watch?v=zbTZ9HYbCHI, otherwise, here’s what they had to say:
Litecoin has seen some increases
As a result of this, we can say that, through riding some increases, we can see that Litecoin is itching to move upwards. It has the capacity to do so and moreover, the ability to do so and therefore, it is just a matter of time before this itch gets the better of Litecoin and it begins to allow itself to flourish.
The re-launch of a new LitePay
LitePay promised to be revolutionary, however, the launch of the product failed, seriously damaging the reputation of Litecoin. Many people do believe a new, more appropriate version of LitePay is currently in the pipeline, indeed this could very well be the case. Though this is speculative at the moment, the launch of a similar product could see Litecoin to the moon. Whilst we can’t see what this happen, we do expect it to happen one day, it’s a key step on the road to mainstream Litecoin adoption and therefore, its essential.
Bitcoin, the cousin of Litecoin
Finally, Central Five Media believe that it is through Litecoin’s relationship with Bitcoin, that will see Litecoin sky rocket eventually. “The silver to Bitcoins gold.” Because of this relationship, Litecoin is a reputable brand that in turn, will eventually attract large scale industrial investors which moreover, will contribute to huge increases in the value of Litecoin. Essentially, because of Bitcoins popularity, it only makes sense to assume some of this will rub off on Litecoin too.
All things considered, it is easy to see how we might expect Litecoin to skyrocket with these factors in place. Although, I should remind you that this is not investment advice. Just as Litecoin could skyrocket, it could also bottom out. Please do your own research before choosing to invest, basically. Overall, the above does mark some optimism for Litecoin and thus, we should at the very least, expect to see Litecoin make further grounds, as we enter the deeper parts of 2018.