- Jul 30, 2021
The cryptocurrency market is experiencing an extreme resurgence, Among the beneficiaries of this market rebound is the Litecoin which is currently trading at $33.02 it also now has a market cap of $1.98 billion. Although there are extreme fluctuations in the current cryptocurrency market, investors in 2018 saw stable LTC to BTC exchange rates.
The current Litecoin to Bitcoin exchange rate is 1 Bitcoin to 112 Litecoins; while 2019 is predicted to be better for Litecoin as suggested unanimously by experts.
The Litecoin has been on the market since 2011 but rose to prominence throughout two years – 2017 and 2018. In 2018, the Litecoin performed well enough that at its peak it was trading at $257 in January. Currently, the Litecoin started the year 2019 ranked number 8 in cryptocurrencies with Bitcoin still holding the top spot.
Despite the volatility of the crypto-market, the Litecoin has been at a steady and stable price over the span of two years; it did like all other cryptocurrencies experience a dip in the second and third quarters of 2018 but has mostly stayed within projected rates.
Keeping this in mind, here are some brief estimates you can expect over the next year.
Despite 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.
As 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.
With 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 the 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 in the future possibilities of LTC.