Litecoin, in recent weeks, has been the cause of some speculation. A price drop in the litecoin world was experienced that saw the currency hovering at around $1.20 and then $1.80. Now, there has been a bit of a surge in the litecoin price that suggests that a $2 price in the near future may not be out of bounds. As digital currency enthusiasts, I suppose we must all be grateful for every little step forward.
Yet in July of last year, litecoin held a price of around $7. Following a drop in bitcoin price that naturally also affected fellow altcoins (litecoin amongst them), the litecoin price was eventually able to rebound to about $5. This certainly wasn’t much, especially for the time, but what we have to understand and consider is that litecoin is still fairly young, about two to three years younger than bitcoin, and if bitcoin can encounter problems and fluctuations, then we are required to grant the same flexible ground to litecoin.
The future is always a dark path, as it’s so unpredictable. Look at this chart for example, which suggests that a $400 litecoin price is possible in the near future… Maybe it is. At the current rate, my better judgment says otherwise, especially considering the chart’s suggestion that the price might be reached in 2014, and we’re now in 2015, but hey! Maybe the chart was just early in its proposals, and more time is needed.
The bitcointalk forum isn’t able to provide too many clear answers, as the verdict is split relatively down the middle. Some have faith in litecoin and some do not, so I ask you all… What are your predictions for the litecoin price in the near future? Will it gradually rise, or always remain low? Post your thoughts and ideas.
Images from Litecoin