Litecoin price predictions 2019: Litecoin seems to be on the rise!

Litecoin has been having a good year.

While many digital currencies have been struggling during the so-called crypto winter, litecoin has been enjoying significant upside.

Thus far in 2019, the cryptocurrency has rallied more than 100%, climbing from $30.35 on January 1 to $62.77 on March 17, CoinMarketCap data shows. 

Litecoin price predictions 2019. Litecoin seems to be on the rise in long term. This is the reason why many of the investors are trying to predict the Litecoin price predictions for  2019. It is important to realize that Litecoin is actually similar to Bitcoin and Ethereum. Only when you are able to keep this factor in mind, you would be able to predict the price more easily.

Litecoin price predictions 2019:

When it comes to price predictions, most people think that Litecoin would be able to close around $ 600 or so in 2019.

Currently, when you compare the cryptocurrencies on the market, Litecoin is one of the largest cryptocurrencies. Many of the institutional investors, as well as cryptocurrency funds, are also investing in Litecoin. This is the reason why transactions in Litecoin are increasing day by day.

If you’re looking to invest in Litecoin, you would be able to make some good profits throughout the year according to the Litecoin price predictions 2019. As always, it would be a good idea to diversify your cryptocurrency holdings and reduce the risk significantly.

Litecoin Predictions: A solidly built network that oozes potential in 2019

Although some altcoins are earning prestige and global relevance with each passing day, Bitcoin is still hands down the most prominent cryptocurrency in the market with increasing appreciation of the transaction benefits that cryptography and the blockchain technology can provide.

However, that doesn’t mean that there isn’t space for altcoins to grow, and solidify their spots as successful ventures and companies. Among them, Litecoin seems to be the preferred option for savvy investors in the crypto universe. For reference, altcoins are all distinct cryptocurrencies from Bitcoin which is the industry’s leader since 2009, and Litecoin may the best, most secure, and the one with the most untapped potential.

Bitcoin vs Litecoin

Differences from Bitcoin

Pundits always say that, by being a fork of Bitcoin, the two cryptocurrencies share numerous similarities, and the statement may be true to some extent. Both of them share the same codebase, are deflationary and use proof of work mining, for example. However, the differences between them are more than palpable.

For starters, it is evident that Litecoin’s transaction times are way faster than those of Bitcoin, which usually take an average of 10 minutes to complete an operation. Litecoin stops the clock at 2.5 seconds, and as you saw in the previous section, the number can be significantly less. Ethereum, another one of the top crypto networks on the planet, also struggles with network and speed problems.

Litecoin’s usability is what puts it ahead of other altcoins and competing with Bitcoin for the market share. People use it for standard blockchain-related procedures, such as lifting a smart contract, but it also has the capability, technologically speaking, of being used as currency, in the way of fiat money.

Litecoin, also to provide the best environment for quick and secure transactions, also offers a cheap option. The currently reviewed system implements scrypt in its proof-of-work algorithm, which is mostly a sequential memory-hard function that needs more memory than a not memory-hard algorithm. The use of the previously described method makes Litecoin mining harder than Bitcoin’s, which is a negative point in the comparison, but a difference nonetheless.

Dark web’s preferred coin

The dark internet has been incredibly beneficial for different cryptocurrencies. As a reference, we can say that it promoted Bitcoin transaction several years ago. However, in the last calendar year, some competing currencies have also begun to show more prominence in this type of web.

Competition is getting stiff! In a relatively short time, Litecoin can become the preferred cryptocurrency of all users of the Dark Web. It works smoothly, is fast, and while it does not offer full privacy or anonymity (which are maybe the top two requisites of completing transactions in this type of networks), it is starting to gain steam.

Recently, several markets of the dark web have moved away from Bitcoin, which is understandable since it has rising rates and lack of transparency as significant drawbacks. As a consequence, sellers and buyers are looking for new ways to deal with payments effectively. Monero, another relevant altcoin, has been gaining a lot of attention, but it also happens to present some of the same issues of Bitcoin, because there are some concerns about Monero’s privacy and anonymity.

To the surprise of many, it seems that Litecoin accounts for 30% of dark web transactions in the present, which is much higher than any other currency that is not Bitcoin used in the dark web at this time. With Bitcoin slowly disappearing from the dark internet, the battle for its market share seems to be between Dash, Monero, and Litecoin, with the latter with a firm hold of the pole position.

Although some of the activities associated with the Dark web aren’t entirely ethical or even legal, the fact that Litecoin is a preferred option there speaks positive things about it. People started having problems with the inflated prices of the network, a consequence of Bitcoin’s high commission fees and started looking at Litecoin.

Pros of Litecoin

• Litecoin is an open source project, which means that it has the capability and flexibility to implement relevant and useful tech improvements, such as SegWit and the lightning network. In that matter, it is an improved Bitcoin version, which is logical since it was a fork of it.
• It is considerably faster than Bitcoin, completing transactions in an average of 2.5 minutes, compared to the 10 minutes it takes to perform a similar operation in the latter.
• It represents a cheaper option for people looking to perform transactions, with an almost zero transaction fee compared to Bitcoin.
• The process of mining can be more straightforward on Litecoin than in Bitcoin (although that concept is debatable,) since it uses the new Proof of Work algorithm.
• It was created by a former Google employee, which brings a sense of reliability and trustworthiness to the equation.
• It has a less “toxic” community since it doesn’t quite have the reach of Bitcoin.
• It is considerably less volatile during market crashes or corrections than some of its peers.
• The developers and founders have shown excellent leadership skills throughout time: Charlie Lee left Coinbase as the head of engineering with the intention of focusing full-time on the Litecoin project.
• There are atomic swaps between LTC/BTC.
• The presence of the Lightning Network, a platform that fosters and promotes faster transactions.
• The 84M total supply.
• The market cap is very low if you compare Litecoin to other tokens at the top of the market.
• Chinese people are fond of it, which is an excellent marketing development since it represents the most significant pool of potential users.
• All hardware wallets support Litecoin.

Cons of Litecoin 

• People are still waiting for a counter-move now that Bitcoin added SegWit to its catalog of offerings. With that development, Litecoin lost one of the values that made it different.
• Since Litecoin is a fork of Bitcoin, or a new version of you prefer the term, it implies that there will be few, if any, new and innovative ideas, which is something that altcoins have to offer.
• Litecoin market will be somewhat damaged until Bitcoin’s scaling problem is solved.
• The people’s perception may hurt the name of Litecoin. Numerous people seem to think that it is the same as Bitcoin. It may be some time if it happens at all before Litecoin reaches the prominence and sustainability that Bitcoin showcases every year.

2019 Litecoin Predictions

People continually talk about Litecoin and its primary competitors, Bitcoin, Dash, Ripple, Monero, and Ethereum. However, what does the future hold for them? Could it be possible that Litecoin, continuing with a recent trend, keeps growing and tops the projections set for this year?

Speaking of which, experts from various circles pointed out that Litecoin has the foundations to reach new heights in 2019. Some people are talking about an increase that can take its value to the $500 or $600 range, a tremendous percentage growth if sustained.

There are at least five reasons for optimism when it comes to projecting Litecoin’s 2019 outlook. The first one is that Bitcoin’s growths and futures trading, which spiked its prices. We can safely say that any positive developments in the Bitcoin community directly benefits Litecoin, not only because it trickles down to Litecoin and other cryptocurrencies, but also because the added traffic within the Bitcoin network drives up transaction fees and clogs the system, causing migration towards the Litecoin project.

Also, there is a substantial influx of users on Coinbase, which is a cryptocurrency brokerage that is trending right now. It supports three cryptocurrencies, one of them being Litecoin. Since Coinbase adds 100,000 new users per day, it is a positive gain.

Additionally, people are starting to come around Litecoin: they are beginning to understand that, in some ways, it is similar to Bitcoin, but is also faster and involves significantly cheaper transaction fees, just to name an example.

The Litecoin network invites users who want fast, quick solutions involving cryptocurrency and the blockchain technology, and since they are popular right now, they won’t want to miss out on the revolution. As a result of that phenomenon, people prefer alternatives such as Litecoin than those that require more thoughtful research.

The last reason presaging future success for Litecoin is the media attention that it has begun to get recently. Being in the public eye will cause this alternative to be among the preferred options in the crypto universe. Artists, entrepreneurs, businessmen, doctors, and even athletes are talking about it! At least JaVale McGee, an NBA champion with the Golden State Warriors, is:

After a few years of consolidation among the top ten cryptocurrencies and transaction networks, Litecoin seems primed to break out and reach genuinely elite status, but there is work to be done and growth to be attained.

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How Embarrassing! Litecoin’s Touted Payment Platform Closes Prior to Launch

Things aren’t always what they seem when it comes to cryptocurrencies.

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Chances are good that we’ll be discussing the performance of cryptocurrencies in 2017 for a very long time. The more than 3,300% increase in market cap that virtual currencies logged last year might very well be the single greatest year we’ll ever witness for an asset class.

Bitcoin, the world’s most valuable cryptocurrency, and the one most likely to be accepted by merchants worldwide, is often attributed with leading these gains — and over the long run, that’s true. However, the second half of 2017 was really all about other cryptocurrencies emerging from bitcoin’s shadow. Among them was what I refer to as bitcoin’s chief rival, Litecoin.

Litecoin makes a name for itself
In 2017, Litecoin’s token, the LTC, galloped higher by more than 5,200%, or about four times as much as bitcoin itself last year. It had a veritable laundry list of catalysts that got investors excited about its prospects of signing up merchants and giving bitcoin a run for its money (pun fully intended).

For example, Litecoin founder Charlie Lee left his job at Alphabet subsidiary Google to work full time on promoting Litecoin as of June 2017. Having Lee’s presence full time was viewed as a positive since it was expected that he’d work to keep Litecoin on track and expedite a mass adoption of the virtual coin.

Additionally, Litecoin holds a number of competitive advantages over bitcoin that suggested it could really ramp up adoption and process transactions quickly. For instance, bitcoin processes a block of transactions about once every 10 minutes. Considering that around six miners validate a transaction on bitcoin’s network before it’s proven true and added to the blockchain, a bitcoin transaction can take over an hour to settle. While that’s still considerably quicker than the current banking system for cross-border transactions, it’s relatively slow compared to other cryptocurrencies.

Comparably, Litecoin’s blocks process in a quarter of the time, about 2 1/2 minutes, which leads to quicker validation and settlement, and the presumption that it can scale its network a lot quicker than bitcoin. Furthermore, Litecoin’s transaction fees are, on average, considerably lower than that of bitcoin.

In all aspects, Litecoin looked like a budding medium of exchange that could one day surpass bitcoin when the curtain dropped on 2017. Then, things changed.