Litecoin value has been increasing alongside Bitcoin and Ethereum — with an uptick by 700 percent, Litecoin is growing, whereas Bitcoin is still being prevented from scaling due to politics. So, should you invest more into LTC or wait it out on the BTC front? A lot of investors and Bitcoin gamblers are keeping an eye on the SegWit (Segregated Witness) malleability fix and how it will be affecting Litecoin. Let’s take a look.
Rise in Litecoin Values
During the past month, there has been a remarkable rise in Litecoin (LTC) values. While many investors assume that this altcoin currency would be dead in the water, it seems like that isn’t the case at all. In fact, if you’re looking for a good reason to invest, the stock is heading in a very bullish direction.
Litecoin value has increased by over 700 percent. This is because of SegWit locking in and the Coinbase listing. It is clear that things are looking a bit brighter for Bitcoin’s silver sibling.
Why it Continues to Soar
Litecoin has come a long way in a month — just earlier this year, a single LTC had a value of $4 USD — this was a great increase from its previous ATH of $48 USD in 2013. Ever since, a lot of people besides cryptocurrency gamblers have forgotten about this altcoin. Now, Litecoin is on everyone’s mind.
Not long ago, LTC locked in the activation of SegWit — this is a major benefit for this popular altcoin. Bitcoin is also trying to get SegWit activated, but keeps meeting a lot of opposition from BTC miners. The impending activation of SegWit has done well for the price of LTC — a 700 percent increase is nothing to sneeze at.
The gain of Litecoin and its continuous soar isn’t just attributed to the Segregated Witness (SegWit) activation locking in, however. Coinbase is an extremely popular US-based cryptocurrency exchange and has enabled support for Litecoin, too. This has given Litecoin yet another boost forward in terms of value. It looks like LTC is underway to surpass $30 USD again. It can be hard to tell when this soaring increase will end, but it’s not out of line to say that the value of LTC could hit $50 USD before it slows.
What is Next?
We have to remember that Litecoin doesn’t have some of the same issues as Bitcoin, so it’s unwise to compare the two equally. LTC, for example, never had full blocks to begin with (whereas it’s very common in the Bitcoin network). There are also a lack of demand for Litecoin, especially from a consumer and merchant point of view. For Litecoin gamblers, this can be something to take advantage of.
The question on everyone’s mind is if Litecoin can maintain their value trend in the long run. Unfortunately, we can’t see that far ahead and many people still view Litecoin as a testbed for Bitcoin.
If you are holding on to Litecoin, you should keep a hold of them, as you may see the LTC value increase in the coming weeks. Keep an eye on the SegWit malleability fix and how it will potentially affect Litecoin.
SegregatedWitness (SegWit): http://segwit.co/