This is not likely. Bitcoin’s price surge was partially a result of media hype, inclusion in various trading exchanges, reputable futures exchanges such as CBOE and CME launching Bitcoin futures, many Bitcoin ATMs installed worldwide, and so on. Can Litecoin achieve all this in 2018? Can Litecoin be covered by CNBC, Bloomberg, WSJ and others almost every single day?
Ethereum is another cryptocurrency that has demonstrated huge growth this year, higher than Bitcoin actually. This can be attributed to its smart contracts and all the features that make its blockchain technology more advanced.
Litecoin benefits from the growth of the whole crypto market, but it doesn’t drive it as Bitcoin does. Litecoin is a benefactor rather than a contributor.
However, Litecoin is known for its stability and its miner-friendly status. And in fact, this year (2017) LTC demonstrated a much higher growth than BTC:
Litecoin has gained 4800%, while Bitcoin has increased by “only” 1400%. But that’s it for LTC – it can’t jump like that continually.
Charlie Lee, the founder of Litecoin, would have a good idea whether or not the coin would skyrocket or not in 2018, and if LTC was to grow by 1500% in 2018, I don’t he would have sold all of his LTC funds.
“In the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin,”
Charlie explained his position:
“Whenever I tweet about Litecoin price or even just good or [bad] news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is [a] conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general.”
Well, that’s nice…but if Charlie smelled a price surge, I don’t think he would sell all of his LTC funds, despite the conflict of interest.