Keep Your Pants On, Litecoin (LTC) Is Not Done
‘Keep your pants on’ is synonymous with ‘Hold your horses’. It simply means that one should be patient with something. In this case, we should be patient with our favorite coin, Litecoin (LTC) as it gradually moons to the stratosphere.
There is more to come ladies and gentlemen. The value will go up. To what value? Only time will tell.
As we speak, Litecoin is trading at $235.16 and according to my analysis and gut feeling, it is not done shocking us. During the worse times of this January and February cryptocurrency slump, I had seen LTC trading at even $118 in some exchanges.
Now it has done 99.3% in gains in less than two weeks. Yes, it has been under two weeks since it traded at $118. To be precise, the exact date was February 6th, 2018.
There are a bunch of theories as to why Litecoin is attempting a moon landing. They are all legitimate and worth considering. But there is one that not too many people have said.
My theory is that Litecoin (LTC) was destined to shatter cryptocurrency records from day one. Yes. I have fused fate and the world of cryptocurrencies. It might sound absurd but look at the strategic naming of the coin.
By clearly stating that it is a light(er) coin, the founder, Charlie Lee, probably had this idea of creating a coin that pretty much did what Bitcoin did, but with less of a hustle. I do believe Charlie had known that Bitcoin would face scalability issues. So, he created a coin and named it appropriately.
And true to that vision, Litecoin has a lower transaction speed of approximately 2.5 minutes. This is 75% faster than that of Bitcoin. I am even tempted to call it Lightning Coin.
Even though Charlie Lee’s vision of Litecoin (LTC) was for it to complement Bitcoin, this might be a case of a younger sibling being more successful than the first-born despite the firstborn being the favorite of the parents.
A second reason I believe we should be patient with LTC with respect to price is the release of Litepay. This is a cryptocurrency to fiat payment option that no cryptocurrency or project has been successful in releasing to the real world.
As we speak, most of the crypto-to-fiat conversion projects just completed their ICO or are in the process of doing so. Crypterium (CRPT) has this same vision of using crypto in real-world applications, but there is yet to be a working product.
Bankera (BNK) on the other hand promises crypto banking but the ICO ends on 28th February. U.CASH is also another crypto to fiat converting project, but there is no working prototype.
Therefore, Litepay will have the added advantage of being first in the market. And since Litecoin is the preferred coin of choice for the payment system, it is sure to go up in value as the demand for the crypto-to-fiat conversion service starts to rise.
Examples of first in the market are there. From the Ford Model T to Polaroid Cameras and eBay; even Bitcoin itself. First in the market is a very big advantage to any product or service out there. It guarantees an excitement by consumers that can only be translated to profits. In this case, it will be translated to the value of the coin going up!
In summary and in the words of famous Hip Hop artist DMX, ‘[Litecoin] is coming for you [Bitcoin].’