Litecoin (LTC) is fast becoming the one altcoin to rule them all, as it races uphill behind big sister Bitcoin and off into the sunset of 2017. The only question is, by this time next year, will a $100 Litecoin be all but a memory as the digital currency soars to even greater heights?
Standpoint Research Bitcoin Price Revisions & Why they Matter
While few and far between, there are some sober mainstream media pundits who have supported the rise of digital currency from day one. We’re talking, of course, about the likes of RT economics commentator, Max Keiser. Max, after all single-handedly screamed at people to buy Bitcoin in 2013. What is more, there are now more than a few digital currency millionaires in the world because of him.
The lesson, in this case, is that when mainstream cryptocurrency advocates have something to say, the world would be wise to listen. Moreover, this is why a recently revised Standpoint Research Bitcoin price prediction makes for very interesting reading. In light of recent Bitcoin forks, after all, Standpoint now believes that Bitcoin will stabilize at $20,000 in 2018, not $14,000 like they originally anticipated.
What People Looking to Buy Litecoin need to Understand About Bitcoin
As it stands any legitimate Litecoin price prediction can only be made on the back of a sound understanding of where Bitcoin itself might be heading in future. This is because development of the Lightning Network which has revived investor interest in Litecoin this year is essentially the development of a new way for people to interact with and use Bitcoin.
The Future as Litecoin & Bitcoin Developers See It
The premise behind Litecoin’s Lightning Network is simple. In order to make spending Bitcoin practical from a transaction speed and price perspective, small BTC transactions will be eventually be made via instant and real-time exchange of Bitcoin to Litecoin.
When people buy gas, phone credit, or coffee on their way to work, they will use Litecoin. When making more sizable purchases, on the other hand, they will use Bitcoin. In either case, though, the two digital
currency formats will be completely and instantly interchangeable. This way, anyone with an empty Litecoin wallet will be able to draw upon their Bitcoin balance at a point of sale (and vice versa), just without exposing themselves to Bitcoin’s more lofty transaction fees.
Why Litecoin Value will Soar as Litecoin Facilitates Easier & faster BTC Transaction Processing
While the wider world might not like to admit it, there is a real (and some might even say urgent) need for wider digital currency adoption.
Economic pundits like Max Keiser laud Bitcoin as a new world asset class, specifically because of how blockchain technology can completely circumvent government and financial institution led corruption. In truth, however, greater real-world adoption of digital currency on a day to day basis, can also help alleviate significant stress from merchants, and financial institutions themselves.
According to sources like The Chargeback Company, consumer-led credit and debit card chargeback fraud is at peak levels. In fact, ‘friendly fraud’ chargebacks used against online retailers like Amazon, cost retailers in excess of $4 billion per annum. With Litecoin and Bitcoin, however, such consumer fraud becomes altogether impossible.
Should You Buy Litecoin Now or Hope for a Last Minute Price Pull-Back?
Given the current Bitcoin value and how Litecoin value itself is intrinsically linked to that of Bitcoin, investors really shouldn’t bank on last-minute price movements in their favor.
Today’s $100 Litecoin value isn’t representative of blind investor faith in the trendiest looking altcoin on the cryptocurrency market. Instead, Litecoin’s current value is representative of the first step which it and Bitcoin are finally making toward wider real-world consumer adoption. The only question now, really just regards how that future might start to manifest in 2018.