Litecoin is a cryptocurrency that was first released in 2011. It is available through LTC exchange sites. It is an altcoin, which is a common term for cryptocurrencies other than bitcoin. The outlook for litecoin is very positive, as investors are flocking to crypto in droves. Also, crypto now has more legitimacy than ever. Another reason that litecoin has a positive outlook is that it is much more affordable per unit than bitcoin.
Read on to learn more about the outlook for litecoin in 2021 and beyond.
Money is Pouring Into Cryptocurrency.
Cryptocurrency, especially bitcoin and litecoin, is now seeing more investment than ever. As the traditional economy has struggled during the pandemic, many fiat currencies have struggled. Bitcoin, however, has surged to new heights. With the increased attention in bitcoin has come increased attention in crypto as a whole. More investors are putting money into altcoins like litecoin.
Investors Now Trust Cryptocurrency More Than Ever.
Investors now have more trust in cryptocurrencies like bitcoin and even in altcoins like litecoin. Many well-respected cryptocurrency sites are bullish on the future of litecoin. As major companies like Paypal begin to accept cryptocurrency transactions, cryptocurrency, including litecoin, will continue to appreciate.
Litecoin is a Fraction of the Price of Bitcoin.
Another big reason that many investors are getting into litecoin is the price. Bitcoin has reached well into the mid-five figures as its value has skyrocketed during the pandemic. Litecoin, on the other hand, has been between $100 and $200 for some time. Of course, you can simply buy a fraction of a bitcoin. However, investors that want to purchase multiple units of crypto can do so much more easily with litecoin.
The Outlook for Litecoin is Linked to Bitcoin.
Litecoin closely follows the behavior of bitcoin. Its value has risen as the value of bitcoin has risen. The projections for bitcoin are that it continues to increase in value at a dramatic rate for the foreseeable future. The historical behavior of litecoin indicates that it will follow bitcoin’s rise step-for-step.
Litecoin is Better Than Bitcoin.
Bitcoin is much better known and much more valuable per unit than litecoin. However, litecoin is actually better in some ways. Its blockchain is actually better designed than bitcoin’s blockchain. This allows litecoin transactions to process faster than bitcoin transactions. This is not a particularly well-known benefit of litecoin. As litecoin transactions become more common, more people will learn about the increased speed of the cryptocurrency Litecoin’s blockchain design also offers a higher degree of security than bitcoin’s blockchain.
Institutional Investment May Be Coming To Crypto.
Thus far, the bulk of investment in crypto has come from small investors. Institutional investors like mutual funds and banks have largely stayed out of bitcoin. However, this could change in the near future. When it does, the flow of new investment may result in an increase in the value of cryptos like litecoin. Many experts expect the government to introduce a regulatory framework for crypto within the next few years. When this happens, the mutual funds and banks may begin to invest in crypto.
