Litecoin Price Forecast Amidst Bearish Pressure

Litecoin is like ‘silver’ to bitcoin’s ‘gold’. Litecoin market capitalization rose to $4.6 Billion with LTC/USD at $85.18 in November 2017, and it reached $20 Billion with LTC/USD at $371 in December 2017. With bearish pressure in January, Litecoin price is struggling between $160-$200 levels.

The latest tends of Litecoin in contrast with bitcoin reveals that its software relies on transparent processes to allow independent verification of binaries and its corresponding source code. Merchants benefit more from Litecoin as compared to Bitcoin by having faster confirmation times, because Litecoin’s blockchain supports multiple and higher transaction volumes. Mining is faster as it only takes 2.5 minutes to mine a single Litecoin.

Salient features of Litecoin

1. ASIC Mining: Litecoin has avoided centralization of mining activities as it took Bitcoin code and changed its algorithms from SHA256 to Scrypt.
2. Adaptation of Segregated Witness (SegWit): Litecoin is faster in adopting newer technologies as compared to other currencies. SegWit was implemented in May 2017 and tested atomic swaps on Litecoin and later on Bitcoin. It set down a further stage for development and considered the bigger technology adaptation on scale of digital currencies.
3. Smooth going: Bitcoin is indulging with internal political wars that negatively affect its future development whereas Litecoin is not involved.
4. Leadership: Some investors place trust in a coin looking at the leadership. Litecoin is a trusted currency as it has a leader Mr. Charlie Lee.

Future of Litecoin

The recent update is merging setup of two alternative coins i.e. Litecoin and Monero through cross-chain atomic swaps. This set up perhaps create the opportunity of ‘fiat exchange’ for Monero and further privacy of Litecoin. By this way people can buy Monero through Litecoins.

Although, the cross-chain atomic swaps are here but if it implemented with the same terms, it will indeed the most awaited development in cryptocurrency world.

Litecoin Price Forecast

According to forecast systems, Litecoin looks like an awesome investment as LTC/USD is currently trading at $174.6 and a target of $351.17 in one year and $1051.67 in the next five years looks possible to achieve.