Everything seems to be shaping up right for Litecoin (LTC) in 2019. For starters, the price is up 3X so far, and it doesn’t seem to be easing up. Already, it has established strong support at $60, and if it holds, the next target for Litecoin (LTC) could be somewhere around $80 where it could face some resistance on the 100-day moving average. This continued upward trajectory has brought with it other benefits to Litecoin (LTC) that further strengthen its potential for more gains. One of those benefits is network security.
For the period that Litecoin has been gaining, the hash rate has gone up too, from around 150 TH/s to over 270 TH/s. This means that the number of miners entering the network is on the rise, as mining Litecoin becomes more profitable. The result is that Litecoin (LTC) now is safer since for one to attack it, they need to spend more without any guarantees of success. Simply put, as the hash rate grows, it becomes economically impractical to do a 51% attack on Litecoin (LTC). As network security grows, so will the value of Litecoin, and the two keep boosting each other. That’s because, the core value of blockchain technology is security. There is no value in a network that can be easily attacked. In essence, Litecoin stands to attract more investments going into the future, and this will add to the overall demand of Litecoin. As more investors, especially the institutional type take an interest in Litecoin (LTC), its value could rise exponentially relative to most altcoins. That’s because it has a very limited supply. Like Bitcoin (BTC), this is a low supply coin, with only 84 million coins. Considering that most coins are already lost, it then follows that the amount of Litecoin (LTC) available for purchase is extremely low, and an upsurge in demand could significantly drive up the price.
Another factor that could lead to a huge increase in the value of Litecoin (LTC) is the upcoming Litecoin (LTC) halving in August. As this date approaches, investors could start moving money from other altcoins into Litecoin (LTC) for the potential gains. This will possibly see Litecoin (LTC) enter into a bull rally earlier than most other cryptos. It’s already one of the leaders in gains of the top cryptos in Q1 of 2019. When this is combined with its growing security, Litecoin (LTC) easily comes off as the safest bet for the year. While no can tell where the prices will be in the future, the possibility of Litecoin (LTC) pushing to over $500 a coin within the year is very plausible. It could go even get higher if Bitcoin rallies and lifts the entire market with it. For instance, if Bitcoin makes it back to its 2017 highs, Litecoin could easily top $1000 based on all the fundamental developments it has made so far. For investors who have an eye for value, Litecoin makes lots of sense relative to the other altcoins.