Litecoin is definitely a cryptocurrency to watch this year, as the price has been predicted to hit $1,500 by the end of 2018. Speaking of the cryptocurrency, Tim Lea, the CEO of REFFIND said;
The LitePay product that is being produced has all the hallmarks of greatness. With emphasis on aggrement, there is a great recognition within the team to hit the operational payments space very strongly and with the right compliance issues to deal with the regulatory structures that cryptocurrencies so desperately needs.
When you consider that Litecoin is currency worth $205, it’s a huge profit of 631%.
Litecoin is not the only virtual currency that is seeing huge price increases. Bitcoin prices have, once again topped $11,000, with investors being confident of a bright future for the top cryptocurrency. Bill Miller, the former Legg Mason fund manager, who is currently running his own hedge fund said;
“What I noticed with Bitcoin is that it’s following a very time-honoured path of disruptive innovation going all the way back to the printing press, railroad, electricity, radio, biotech, the internet….Bubbles are necessary to bring capital into the market to see if these innovations are actually going to stand.”
The price is predicted to rise even more as well, and Llew Claasen, who is the executive director of The Bitcoin Foundation has predicted that it will top a whopping $40,000 by the end of the year. He went even further to say that the majority of cryptocurrencies would not see the same rise, and that actually 90% of all virtual currencies would actually decline in value throughout the year.
Goldman Sachs Group Inc, also backed up this claim, after the CEO said just this week that the institution believes that;
cryptos in their current format meaning that in the current incarnation, are in a bubble.