Recent months have seen considerable upheaval in crypto currencies. While Bitcoin is considered the original crypto currency, other cryptocurrencies have made their presence felt in 2017. Among them, most promising has been Litecoin. Let us explore whether it will be able to continue its progress in 2018 at the same rate as it did this year.
Growth Prospects of Litecoin in 2018
The main focus behind creation of this cryptocurrency was to focus on few of the perceived faults Bitcoin had. As such, Litecoin strives to keep the fees lower, ensure that transaction occur at a faster rate and the mining that occurs over the network remains less energy sensitive.
It is also believed that the price rise Litecoin has experienced recently is due to the fact that many people are gradually diversifying away from BTC and embracing alternative options.
Ok, sorry to spoil the party, but I need to reign in the excitement a bit…
Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! 😀
— Charlie Lee [LTC] (@SatoshiLite) December 11, 2017
Another reason more people are moving towards Litecoin is also due to the fact that it has technical advantage over other cryptocurrencies and can be used as a viable option for creation of large scale payment systems.