3 Reasons Why Litecoin Is Expected To Skyrocket

Last year was a great success for Litecoin, outperforming both Ethereum and Bitcoin with 2000 percent rise in value.

However, price predictions are always difficult to make since the cryptocurrencies are always very volatile. People find it very useful that this coin has the ability of extremely fast transactions. That is one of the reasons why we could expect more people to start using it. On the other hand, as with many other coins, Litecoin is also connected with the usage of Bitcoin. When we see a higher adoption rate of Bitcoin we can also expect a higher adoption rate of LTC. This, of course, leads to price growth. Price is also expected to grow this year because there is an increase in the number of developers working on this cryptocurrency. Making precise predictions is impossible but we can, however, expect a bright future for this cryptocurrency.

Because of its advantages, LTC is able to generate a block in less than 3 minutes and make a faster transaction compared to Bitcoin. This is very important for the miners because they use hardware to mine on the Bitcoin network so it is very hard to switch to other ones. This is good because there won’t be large groups forming and mining Litecoin so it will be easier to keep Litecoin decentralized. As you know, Litecoin is a cryptocurrency that emerged as a fork of Bitcoin.
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 This currency got very popular in a very short time and impressed investors who tried to diversify their currency portfolio.

Many experts believe that the adoption rate of Litecoin will increase this year which will lead to a growth in price. Of course, we can never know how big of a jump that would be. The adoption rate should increase because Litecoin has a lot more coins in circulation so it is more affordable. Also, both the lightning network and SegWit are active so Litecoin can easily deal with scalability.