Our InvestingHaven Litecoin Price Forecast of a 1000 USD in 2018 is written as we start the year with a sharp retrace in Cryptocurrency prices. We saw Bitcoin price retrace by more than 50% from its most recent highs. Litecoin price, after reaching a high of 400 USD is trading at 176 USD at press time.
Where do we see Litecoin price heading in 2018 and why are the questions we will cover in our Litecoin Price Forecast of a 1000 USD in 2018.
Before looking into this particular forecast we have to admit that the timing of this article is very carefully chosen. The majority of people are extremely concerned right now, because cryptocurrency prices are falling. At InvestingHaven, we argue that smart investors get happy once an asset has retraced during a strong bull market. When it comes to cryptocurrencies the retracement has largely run its course. Can prices go lower? Always, but major support levels of the ongoing secular bull market are respected so there is no reason at all to get concerned.
Stated differently, this is a buying opportunity. That is our take on things.
A Litecoin Price Forecast of a 1000 USD in 2018: The fundamental factors behind the forecast
As more and more altcoins are out there, it becomes crucial for investors to identify the set of criteria for a Cryptocurrency to survive. For our InvestingHaven research Team, that was one of the key focuses for our research service to ensure our picks for Blockchain stocks and Cryptocurrency can survive the inevitable “Natural selection” that will happen.
The criteria we are using are far more complex but to keep our article focused, we will provide 3 factors we believe are relevant especially in the adoption phase we are in:
1.Scalability
2.The Leadership, strength of the community and development Team
3.Intrinsic value (The problem solved and adoption levels)
We believe Litecoin is a top choice in all 3 categories:
As said in our initial Litecoin price forecast, Litecoin’s code is superior. It’s fast, Scalable and can scale further to meet future demand. The fact that it is using the Lightening Network gives it a serious edge compared to other cryptocurrencies.
Because Litecoin’s fast transaction speed and low transaction fees, it quickly became a favorite cryptocurrency to transfer funds across exchanges (along with ETH). This is definitely a plus for the cryptocurrency as it increases usage and adoption.
The leadership team is also very involved, adding more dedicated developers to improve on the code and actively working to increase the number of clients and businesses accepting and using Litecoin. They are also adding more dedicated developers which is a very important success criteria. You can see the updated and growing client list on the Litecoin foundation website.
All the factors mentioned above have a direct impact on the use and intrinsic value of Litecoin which will drive Litecoin price in 2018 and later.
A Litecoin Price Forecast of a 1000 USD in 2018: Litecoin Price and volume analysis
Litecoin’s chart is extremely Bullish. The healthy uptrend continues and what’s interesting is that the retrace we are currently seeing in Litecoin price is bringing it close to attractive buying levels.
As we can see from the chart below, Litecoin is headed towards 1000 USD by the end of 2018. At press time, LTCUSD os facing a strong resistance and will probably touch the bottom of the ascending channel and pikely backtest the 100 to 80 USD support area. The overall trend however is positive and strong which supports our 1000 USD forecast by end of 2018.
Smart investors will need to watch the price levels closely to ensure the best entry and mitigate risk. We also highly recommend establishing a strategy that fits your risk tolerance and how long you can afford to hold in order to avoid selling at the wrong time.
Taki Tsaklanos
https://investinghaven.com/growth-stocks/litecoin-price-forecast-1000-usd-2018/