LTC is one of the more stable cryptocurrencies.
Flies somewhat under the radar as it is the little brother to Bitcoin. BTC gets most of the press attention and has much higher volatility due to all the attached drama. BTC has too many fork attempts and lack of consensus on best approach to evolve and enhance BTC capabilities.
As per my previous post from September 2017, there are many benefits of LTC compared to BTC.
The benefits include less drama in the innovation process, much faster transaction time, much lower transaction costs, and faster to market with necessary evolution and enhancements such as SegWit, Lightning network support and atomic swaps. And you can talk to and interact with Charlie Lee as the technical leader of Litecoin, which isn't possible with BTC. Satoshi still not identified.
https://steemit.com/litecoin/@davebrewer/ltc-price-will-be-back-to-usd80-for-a-60-return-within-6-months-or-maybe-within-6-weeks
In the previous post I did simple line fitting using the "tried and true" line it up by eye. Very scientific !! LOL
Let's get serious and go to the next level, with formal least squares linear regression.
Chart below shows LTC price since April 2017, with linear regression for the trend line.
R^2 value means 80% of the variance is explained. Or, after conversion, 55% of the standard deviation is explained. Simple math, therefore 45% of the standard deviation remains unexplained by the current trend line.
Implication is the slow increase of price is 55% explained by nothing more than the passage of time. Every day LTC gets a little bit more valuable, as the trend is slightly positive on a daily basis on average.
45% of the trend line is explained by exogenous events, that are not modeled in the trend line. 45% of the trend line is positive news about LTC in terms of technical innovations coming on line, more merchants accepting LTC for payment, atomic swaps making BTC/LTC interchangeable at no cost to enable LTC for micropayments, and positive news about the crypto market in general.
LTC price has increased $60 in the most recent eight months in 2017. Extrapolating, with all the inherent dangers of that modeling approach, I am predicting using the trend line that LTC price will increase another $60 in the next eight months.
LTC price will be $130 by August 2018.
A more aggressive view than my previous post, which had LTC price at $80 by Q1'18.
For my money, the most certain place to get a >85% increase in the next eight months is LTC. From $70, adding $60 to get to $130, is approximately an 85% increase.
$70 to $130 in the next eight months is better than you will get from Apple stock, FB stock, Google stock, or Amazon stock.
Go Charlie Lee!
Go Litecoin!!
Go Lightning Network !!!
Go Atomic Swaps!!!!
Go LTC!!!!!
Upvotes, resteems, and insightful comments always welcomed.
No whining that my forecast is too conservative if you are just a fanboy without any evidence to explain your more optimistic guess.
DaveB