Litecoin Forecast for 2018 - Why to Buy Now While Prices are Low
Top 5 Reasons to Buy Litecoin in June 2018
As of May 2018, the cryptocurrency market is at its most bearish since mid-January. As a result, the Litecoin price and Bitcoin price are down double digits on past all-time highs. The good news, though, is that there are still several reasons why now is an ideal time for new investors to buy coins like Litecoin.
Litecoin Consistently Innovates Before Bitcoin
Ever since Litecoin creator Charlie Lee published his ‘Vision for Litecoin’ in early 2017, the Litecoin Lightning Network has become one of the most prominent buzzwords on the cryptocurrency market.
What is the Lightning Network?
The Litecoin Lightning Network is designed to provide a new way to transact Bitcoin instantly using cross-chain atomic swaps. Because of this, the network promises to finally make Bitcoin viable as a commercial payment system.
Sadly, what investors seem to forget, is that the Lightning Network is the brainchild of Charlie Lee and Litecoin. - Not big sister Bitcoin. What is more, from Lightning to Segwit, every major protocol update to Bitcoin over the past three years, has only come about due to Litecoin implementing new features first.
More Exchanges now List Litecoin than at any Point Previously
Thanks to awareness of Litecoin’s technological superiority to Bitcoin, more cryptocurrency exchanges now list Litecoin than at any point previously. Much more importantly, Litecoin currently benefits from market exposure on some of the most important exchange platforms. These including the likes of Coinbase and the Winklevoss Twins’ Gemini exchange.
Litecoin Has a Stronger Developer Community than Bitcoin Core
On the 3rd of February 2018, a group of anonymous developers caused a stir of controversy on the cryptocurrency market. Namely, by launching an unofficial fork of Litecoin, in the form of ‘Litecoin Cash.’
Needless to say, memories of the tumultuous launch of Bitcoin Cash 6-months previously, succeeded in causing minor panic among Litecoin investors. Just 3-months later, however, and Litecoin Cash has almost disappeared into obscurity. This being thanks to unanimous consensus among Litecoin developers and miners that no fork was necessary.
Sadly, such consensus is altogether lacking when it comes to the Bitcoin Core development community.
Litecoin is Already Retail Market Ready
Over the course of 2018, more payment merchants have been taking an active interest in Litecoin than at any point previously.
Alliant Payment Systems, Coingate, and new integration with Blocknet mean that Litecoin can already be used to transact across blockchains and in several real-world retail contexts.
Litecoin is Faster & More Scalable than Bitcoin
At present, a Bitcoin investment is seen by many as just that. - An investment. Buy Bitcoin today, and if John McAfee is right, by 2020, you’ll be a millionaire.
Sadly, the ‘Bitcoin investment’ ideology growing around Bitcoin, may well prove to be the cryptocurrencies downfall. This is due to the fact that Bitcoin was never designed to be a ‘buy now and HODL for 5-years’ get rich quick scheme.
Bitcoin was originally intended to be a lighting fast, decentralized, payment system. In many ways, then, the idea that Bitcoin should be used as a store of wealth and investment vehicle, is precisely what has led to Bitcoin development stagnating and the cryptocurrency only being able to scale with the help of outside innovation.
Thankfully, Litecoin is altogether different.
Is a Litecoin Investment a Smarter Move than a Bitcoin Investment?
At present, Bitcoin is still considered to be the Holy Grail of cryptocurrencies. However, from a purely technological and developmental standpoint, Litecoin is an altogether superior form of digital currency.
Of course, no one is saying that Litecoin will displace Bitcoin by market cap any time soon. Smart investors, though, may want to take advantage of current low prices, rather than worry that the cryptocurrency might be on the verge of collapse.
Disclaimer: Do not take this article as professional investment advice. We are not a financial institution.