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Litecoin (LTC) price may be as high as $600 by the end of the year

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Many predictions have been made lately around the price that Litecoin (LTC) may have by the end of the year, and as it seems, the crypto may hit the mark of 600 USD, a fact that results particularly interesting considering the current performance of the coin.

Litecoin figures in the charts as the 7th largest cryptocurrency with a market capitalization of $3,656,267,429, and a price of $62.9 at the time of press, according to Coinmarketcap. So if it were to happen that the price reaches that value by the end of the year, we would be speaking of an increase of 10 times the current price, or in other words, a 967 percent of the increase.

With relation to the above asseveration, many have been questioning whether or not the coin may get to that level, and also, what are the main reasons to believe that is a possible thing. Let’s see all the details on this.

Litecoin (LTC) description

Litecoin was created and developed by Charlie Lee back in 2011; it was launched via an open source client on Github. The LTC token is a decentralized peer-to-peer cryptocurrency that works under the license MIT/X11. Litecoin was created as a fork of Bitcoin, so in essence, it was meant to have the same characteristics of the leader of the sector, but improving some of the issues that Bitcoin has in its ledger.

In this sense, Litecoin’s ledger functions with a Proof-of-work timestamp scheme, and also has the hash function working with the algorithm Scrypt, instead of the one that Bitcoin uses, which is the SHA-256. An average operation takes 2.5 seconds to be completed and is equipped with a token reward of 25 LTC (until 2019 according to an estimate).

In general terms, one could say that Litecoin is one of the strongest, if not the most, out of all of the altcoins that exist already. In fact, if we compare the crypto with Bitcoin (BTC), we would find the LTC platform works way faster and with one of the cheapest prices per transaction as well.

In addition to this, Litecoin provides great usability, which means the platform utilizes blockchain processes such as smart contract liftings and others. But not only that, the currency also has the capability of being used as regular currency such as fiat money, which means users can buy lots of goods and services by using Litecoin.

Facts on the Litecoin price prediction

  • Bitcoin influence on the coin: We all know that Bitcoin has a great influence on each and every crypto in the market, and of course, this is something of which Litecoin is not exempt. However, this is not the only way Litecoin will receive an impulse from BTC, truth be told, with the present conditions of the market Bitcoin will likely deploy strategies in order to stabilize its system, and this might have as a consequence the increase of the transactions occurring in the network, so as the system clogs, many users will migrate to reliable platforms such as the one that LTC has.
  • Coinbase endorsement: Coinbase represents a huge endorsement for Litecoin, being LTC one of the privileged cryptos enlisted in the platform. Coinbase receives millions of transactions every day, and with more than 100,000 new users that each day engage with Coinbase, we can be sure that this will be a great piece in the puzzle in the long run.
  • Media attention: Litecoin has been receiving a lot of attention on social media during the last months. This, in the beginning, was actually not a positive thing as many users were Tweeting their complaints regarding project failures in the past, such as the association with Litecoin’s LitePay. However, the hard time seems to be gone for good, and now a bunch of artists, entrepreneurs, businessmen, doctors, and even athletes are supporting the crypto and endorsing the coin through its Twitter accounts.
  • Bitcoin resemblance: As we said before Litecoin is related to Bitcoin because of the fork in which it was created, so in many aspects, both platforms provide very much the same. In fact, many users are starting to notice the resemblance between both cryptocurrencies and are starting to migrate to Litecoin as it represents a cheaper and faster option.

Conclusion

Litecoin has actually all of the features and tools to succeed in the goal of reaching never-before-seen heights. In fact, the coin has already done this in 2013 and 2017, so we can be sure that is actually a possible thing to happen. Additionally, Charlie Lee, CEO of the company, is hungry for success, and proof of that is the Tweets that he publishes stating that Litecoin is coming for Bitcoin. So stay tuned, this might be the Litecoin’s year.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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