Currently, we see the third-worst bear market in the crypto history (did you know?), and Litecoin (LTC) is presently at $63.81, this is an optimistic question to be sure. But let’s think about it anyway, and come up with a reasonable answer.
If Litecoin reached the thousand dollar mark, that would need a market capitalization of 58 billion at the current supply or 84 billion if the maximum number of tokens is in circulation. How out of reach is that?
Litecoin‘s highest market capitalization reached 20 billion dollars at the time its price was at its historical highest point so, even when everything was peachy, it was still only a third of what would be needed to reach the thousand dollar milestone.
Several things would be necessary for this to happen. First, we’ll need a group of essential investors (or a group of very many investors) who believe wholeheartedly in Litecoin’s prospects as a long-term project concerning usefulness and reliability.
That would bring tons of money into the Litecoin pool while, at the same time, it would slow sales down. If sales diminish sufficiently, the token supply could become limited enough so that it appreciates just because of scarcity.
But for that, Litecoin holders must feel sure that they should hold on to their coins no matter what happens. Second, Litecoin’s adoption must be more extensive, faster, so that the token is more useful and it attracts (even unknowingly) new users that wouldn’t dream about going into the crypto game otherwise.
Litecoin has already launched a campaign to encourage people to use Litecoins to pay for goods and services. Adoption and use drive demand up, and demand is what raises the price. Litecoin’s leadership is keenly aware of this fact which is one of the reasons why they bought a bank in Germany (well, not the whole bank, just 9.99% but that’s enough for our purposes).
This came about after somebody suggested to Litecoin’s creator to get a bank to issue a Litecoin debit card. It’s a fantastic idea regarding thrusting adoption forward. If you have Litecoins and you can use them through a debit card in the street, then the last advantage that fiat currencies have over digital ones is finished.
You would not be able only to use your tokens online, but also on the street, in just the same way you use banknotes and metallic coins. If Litecoin can pull the debit card trick off, that will go a very long way in reaching the thousand dollar mark.
They’re not alone in this as both Stellar Lumens and Ripple already have new partners that intend to issue crypto-based debit cards. But Stellar and Ripple still don’t own a bank or significant shares in one.
And then, here’s what you can do. Just spread the word. Don’t lie, be honest. Being involved in the cryptosphere is interesting, it’s challenging, it’s a lot of fun, and it could make you very rich not too long from now.
But it’s also hazardous and unpredictable, and because of the lack of regulation, it’s something of a wilderness. Talk to your friends and family about this subject, bring it up as part of your regular conversation. If you’re knowledgeable and honest, you’ll generate interest and, who knows, maybe you’d be doing them a favor.
Litecoin is a stable coin, it’s useful in the real world, it has excellent leadership, and it’s securing all the right partnerships. There is no reason for it not to go all the way up to a thousand dollars sooner or later.
Just think about this: Bitcoin reached a low of 67.809 at some point (which means it was cheaper than Litecoin was only a couple of days ago), and it’s now worth seven times a thousand dollars, without ever having all the advantages Litecoin currently has. Litecoin will get there. It’s more or less unavoidable.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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