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Will litecoin raise its value similar to bitcoin
- 1. Will Litecoin Raise its Value Similar to Bitcoin? Bitcoin is the top crypto-currency or virtual currency in the industry because it was the first to market and the game changer on crypto-currency. This so called, “First-ism” or something that breaks out in a market before anyone else, typically has the leading position. Bitcoin has set that standard and to date is still the reigning champion. However, Litecoin has been touted as being the second most successful virtual currency to date. Although there are slight nuances to how they approach the algorithm Bitcoin is based on, the value of Litecoin has has had the same volatility in price fluctuations as Bitcoin. There has been a very predictable trend over the past years however, this trend seems to be changing lately. Litecoin has started to gain traction in the virtual currencies community and people are making references to Bitcoin being a “gold standard” and something you should hold on to because of its growth potential and dominance. Litecoin is being referenced as the “silver standard” and considered to be the Altcoin for commerce. This is a new and promising phase for Litecoin and experts suggest this could be the next Altcoin with promising growth potential and liquidity amongst users. In the last year, Litecoin grew at a phenomenal rate. According to a comparative study conducted by Forbes magazine, the value of Litecoin improved almost 328x better this year than in 2013. Although Bitcoin has showed increase in its value, it didn’t have as much growth with approximately 50 times increase in value over the last year. What does this this increase in value mean for Litecoin? It clearly represents that more and more investors are looking at Litecoin as a viable alternative in the virtual currency market. It is not only showing growth but a higher return on investment. People looking to invest in the crypto-currency market are finding Litecoin much more alluring to invest since it offers additional benefits such as ease of mining, affordability and better investment returns.