Is the price of Litecoin moving to 100 USD in 2018 or not? That is the million dollar question top of mind of crypto investors, and, in particular, enthusiasts of Litecoin. After our $60 Litecoin price forecast was met on August the 27th, we thought it was appropriate to update our readers on where we believe Litecoin’s price is heading next. Below are 3 factors we believe will help accelerate the materialization of our 100 USD Litecoin price forecast.
#1 The Creation of Litecoin Alliance is good for the Litecoin price
Although building a solid community and keeping it alive is no easy task, we consider this a major step for Litecoin. If successful, the main benefit of the Litecoin Alliance will be providing a structure to this growing community to attract more users and investors.
In fact, such a structure will make it easier for coders and enthusiasts to collaborate on projects and might help making Litecoin more accessible by reaching out to different wallets and exchanges and encouraging them to offer Litecoin.
The Litecoin Alliance is currently recruiting and roles are being defined to include PR, marketing, and development among other roles. It will be interesting to see who will join and what the plan moving forward will look like.
#2 Litecoin’s superior Scalability
No scalability means the more transactions are made, the higher the waiting time and cost for each transaction is.
And when it comes to scalability, Litecoin is superior. It can offers a higher volume of transactions at a lower cost thanks to its fast block generation. For instance, Litecoin’s mean block time is 2.5 minutes versus 10 minutes for Bitcoin making it 4 times faster.
So as other Cryptocurrencies are facing challenges related to scalability because transactions are reaching all time highs, Litecoin is getting more and more noticed by investors. This interest kept growing as Bitcoin and its community was in the midst of the debate around the segwit update and how to increase Bitcoin’s scalability while maintaining the integrity of the code.
