We saw litecoin take a bit of a pump today which was a nice change of pace. Litecoin has always been referred to as the silver standard to bitcoin(if bitcoin was gold) What this means is it should be the 2nd highest sought after coin however it has always under performed staying at $3-$4 for the longest time when bitcoin was moving to $1,000-$2,000.
Litecoin underwent segwit as well a few months before bitcoin which is now undergoing it. Once completed litecoin went from $4 per coin up to what we see today around $50-$60. This also leads me to believe bitcoin is currently poised for massive growth over the rest of this year as segwit is finalized since this is what we saw happen with litecoin.
A huge bump right? But to me it is still very undervalued as we review market caps.
From this a coin that is suppose to be the silver standard to bitcoin is falling far behind from where it should be in theory.
Litecoins current market cap is at just over 3 billion however where it should be landing is somewhere in the 10 to 30 billion in terms of where everything stands at the moment. At 10 billion this would put litecoins value at around $150-$200 per coin and at 30 billion $450 - $600.
This is where I am putting my forecast numbers for litecoin by years end $200-$400.
Please remember this is not professional advice and only my personal opinion of how I see things. Please seek a professional advice when investing.
ETH is crypto-silver, as typical comparison against BTC as gold.
LTC may be copper?
LTC has slow steady upwards movement, whereas BTC and ETH are much more volatile
Nah ETH is its own blockchain and features that bitcoin and litecoin do not have
Are you referring to the inputting of data for smart contracts?
I have hear that LTC is silver to BTC gold.
ETH is a different entity altogether.
Yep, good call I'd say ETH is pretty independent of what LTC and BTC are doing, at least some of the time. Which is why I'd consider a balanced crypto portfolio to have a bit of all 3 (not to mention some other alts, namely NEO, and perhaps Monero, Ripple, Iota and a couple other top 10 or 20 coins).
Thanks Jordan.
I appreciate the suggestion at the balanced portfolio. At the moment I have BTC, LTC, and ETH with the LTC lagging behind in terms of percentage of the holdings. NEO has caught my attention so it is interesting you suggested it. I will look deeper into it.
Well I hope you stocked up on more LTC before that big move up yesterday. Looong overdue for my old buddy Litecoin, I was like "ugh, finally!!"
Yep NEO is still recovering/consolidating from it's major jump from around $10 to $50. Long term it's a good thing since I think it will definitely go higher long term, although more slowly for a while now that it's already gained a lot from where it was a month or two ago.
Yo ,
Thanks for the great content
I buy some LTC every month. And i will see them in 1000 USD price.
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I saw your post in my facebook group Seemit Community. I have decided to upvote it for its quality. Thanks for sharing!
I have some LTC holdings (not as much as I would like of course). My belief in LTC, aside for the platform, is that I have a true belief in Charlie Lee. To me, he simply is one of the most astute guys in the crypto world. Long term I see him and his team making this platform part of the core decentralized system. Ultimately, LTC might act as the currency while BTC is the store of value. Lee's goal is to have most switch back and forth seamlessly.
I can agree with this, bitcoin is still sluggish to update its block chain but litecoin as already taken this leap and it is locked in so future developments are now possible for it.
Bitcoin has the possible fork coming up again, something LTC doesnt have to worry about.
I can definitely see LTC at $100 by year end (hell at the present pace might be there before Friday..jk).
Thus far, I have avoid BCH figuring LTC will fill the role that many espouse that BCH will.
I'm still avoiding BCH as well nothing like a coin out of no where and there are then 16 million of them and some how they have value? lol
Thank you for sharing that.
I feel a bit better in my concern over that entity. I agree, it was created out of nothing, a fork from nowhere based upon an argument over how to better handle the traffic. Maybe the larger blocksize is a good idea....or maybe it isnt. Besides, arent segwit and lightening suppose to help handle the BTC problems.
Yup exactly and the core developers dont support BCH just a few miners. I honestly think China backed it with a few billion dollars when it launched as a majority of the miners seem to be out of China
Do you see the price collapsing for BCH or are there enough people who embrace it that it will hold up?
That was something that I saw pointed out as a major drawback to BCH...the fact that most of the mining was being done by a few entities. It wasnt a situation where there was widespread penetration among the miners.
Where can I learn about the possible fork? I've learned so much just reading this post and comments. I too am bullish!
I honestly dont know how much is written up about it other than the speculation. There are rumors that another fork will take place in late Oct or Nov. I am not sure how set in stone it is.
I know I have seen people comment on it in Youtube video posts . You might want to search coindesk and some of the sites like that....there might be articles written on there.
I do believe Segwit2x is what is is called (google search should get you good info) Is still a few months out to when it would fork. Some support it some do not I think its dumb to support it honestly just another fracture and it hardly does anything for bitcoin.
I myself, am filling most of my portfolio with Litecoin for the remainder of this year, because all this non-sense going on with all (possible) 3 Bitcoin versions is creeping me out. 💰
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I'm a huge LTC holder / fan myself, and definitely think it still has a long way to go. To be honest, I'd be a bit more conservative with a coin that has stayed so stagnant so long... but even then I can see around $100 by year's end.
Still, if Monero could jump from under $50 to $150 in a couple days, who really knows?! Either way, I agree LTC still has a long way to go.
It just floors me how litecoin is still so low, either its marketing efforts or something behind the coin that is keeping it down. Being considered the silver standard to bitcoin you would think it would be worth more and you would really market to that. There are about 3x to 3.5x more litecoin then bitcoin. Really hope it takes off :D
Absolutely, although I do think the much larger LTC supply inherently limits its value, like you say it should still nonetheless be worth more than it currently is in comparison to BTC's price, at the very least $100 plus. With cryptos though, general price movements can be predicted but timing is almost impossible. It's enough to say that it SHOULD (and probably will) continue to rise but who knows when that will be? The last few days for Litecoin have been really promising though...I think it's just the beginning of a nice bull trend.
Even though I told myself I wouldn't put any more $ into cryptos for now, I couldn't help buying just a few more Litecoin today.
Any reason behind not putting anymore in? Do you feel we are pushing towards a sell off or bull run for the rest of this year where people are expecting $20,000 per bitcoin in the next 2 years. Pretty wild but it is possible.
Funny you ask I just made a comment here (https://steemit.com/bitcoin/@adsactly/adsactly-crypto-roundup#@satchmo/re-jobsande-re-satchmo-re-jobsande-re-adsactly-adsactly-crypto-roundup-20170827t160727039z) mentioning how BTC and LTC near all time highs (and now LTC just hit a new one - you watching the charts the last few mins?!) it's hard to put in new money.. more of a gamble short term.
Long term I'm still very confident, which is why I'm not selling what I have, but short term it MIGHT keep going up a bit, or we might see another correction soon. At least with Bitcoin. That's what the charts seem to indicate as well, really depends what happens in the next few days with the price according to the charts I linked above in that post.
What do you think re the Bitcoin price?
Nice and yeah litecoin is going crazy today 20% in the last 24 hours. Im always like ugh if only I had more lol
I know right!? Everytime there's a huge surge in a coin I have, I'm like ohhh I should've bought more! Even LTC which has been one of my core-holdings, I still wish I had way more now. In comparison to BTC I still don't have that much Litecoin. Maybe I have 1 Litecoin to 3 or 4 Bitcoin (rough ratio), wish that was more now!
Ah well, at least I have some skin in the game ;)
I'd say it's fully valued for now. People need to keep an eye on the transactions count:
https://bitinfocharts.com/comparison/litecoin-transactions.html
They've surged to an all time high for litecoin, at about 29,000 per 24 hours. But unless they increse substantially from here, litecoin isn't going to eat bitcoin's lunch (or ethers for that matter).
I think your assessment of the future price of LTC is spot on. While LTC has lagged behind BTC for several years, it stands to reason that that gap will begin to close soon. I suspect LTC will close year end around $200 or so. It was only a matter of time before it popped. I suspect it will be in bull mode in the near future, with a run to $80 in the next couple of weeks, then who knows! :)
All in all, I remain extremely bullish on LTC and most of the crypto market as a whole. I strongly believe that we are in the infancy of what will be completely revolutiionary, when it comes to cryptocurrency and blockchain! Those who are in the game now and remains will be handsomely rewarded in the short years ahead!
Crypto rock!
Buy Buy Buy! :D
Good to see Litecoin taking off again
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Thank you :)
LTC will get its dues.
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I sell Litecoin one Month ago but i see more potential in other Coins.
day trading is a fools game
Daytrading is not my daily Job. I invest for a long Term :)
Great post. Upvoted!
I do agree, Litecoins does have the potential to finally get up to the value that it deserves. I was a little worried when it was staying stabled at $40-45 for an entire month but since last week, I noticed it going to the $50's range and today over $60, the new all time high. I would also appreciate it if you can also check out my post about Litecoin, also made today: https://steemit.com/litecoin/@denoxblogger/litecoin-has-surpassed-its-all-time-high-at-usd62-why-denoxblogger-is-heavily-invested-on-litecoins
It can really use some feedback and opinions. I really want to share my ideas with people here so they are aware what to expect from Litecoins moving forward. :)
I upvoted you by the way, great post!
Litecoin to the moon!
Who really knows? How can you speculate right now?
Interesting post. Good to see I'm not the only one who thinks like this. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. Besides coinmarketcap.com there is: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. On: https://www.coincheckup.com/coins/Litecoin#analysis For the Litecoin Detailed report.
Professional or not. You called this one. Kudos!!