Stable GrowthDespite ending 2018 on a low, the Litecoin is expected to stay a strong investment with growth projections all pointing to a rise in trade value. The upward trend of the cryptocurrency market is helping the Litecoin keep its growth pace. In 11, Dec 2018, we saw the Litecoin trade at an all-time low of $23.42, since then the steady rebound has seen it rise back up to $32 by the end of December and in January 2019, the Litecoin has mostly stayed the course. In the coming year, forecasts suggest trade values may go back to the near normal values of February 2018, and the Litecoin is projected to trade at $205.83, other outlooks also indicate the uptick in value is expected to remain over a 5-year period with the LTC being forecasted to trade at $382.89 within 3 years and $905.118 over 5 years. Although these are rough estimates and the cryptocurrency market should never be taken at face value, as an investment option, the LTC looks to be robust enough for the near future.
Purchasing PowerAs things stand, the purchasing power of cryptocurrencies has not impacted the trading value, in the year 2019, this may change. Discussions about using Litecoin as a valid method of payment in financial institutions has become more prominent with governments and banks participating in the conversation to build a stable and secure cryptocurrency market. The increase in regulated trade of cryptocurrencies is seen as a blessing for investors who may benefit from a more secure day to day trade system, but this is not yet in place. As the Litecoin and other cryptocurrencies grow in purchasing power, expect more financial institutions to cater to the infrastructure needs of crypto-trade. Although this raises uncertainties about the trade potential of cryptocurrencies, it does so in a positive manner, infrastructure and possible changes to the law could increase the viability of growth for this type of investment.
ConclusionWith stable and conservative growth projections over the next five years at 2640%, the Litecoin is a tremendous long-term investment; short term investors also look to reap the benefits of an increase in trade value of the LTC in the coming year which is estimated to rise by 524% approximately. Include the fact that there some of the best Litecoin wallets offer more opportunities to buy Litecoin instantly on portals like CoinSwitch; it’s easy to see why investors worldwide are brimming at the future possibilities of LTC.
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27 May 2020, 4:23 AM (GMT)