Litecoin Price Decline

[Theo Goodman]

Here is the one day chart, each candle represents one day. As you can see the price is going DOWN. There was this freak dump (the red candle that is really long) and then a slow price increase in the last few days. Litecoin still has a large marketcap and is always in the top three valued Altcoins. So what are your predictions for 2014? What will the price be on Dec 31st 2014 of Litcoin in USD at BTC-E ?

 

[Ted.T]

It depends on the Bitcoin price... It is expected that Bitcoin will be 1.5-2k in august, and 4k by december...

 

[Joshuar]

Litecoin offers nothing over Bitcoin itself, which makes using makes using Litecoin, frankly useless. I sold out of it a long time ago, and Litecoin will more than likely get replaced by another alt-coin within the end of 2014, or early 2015.

 

[Theo Goodman]

Litecoin is faster than bitcoin, the network hashrate is very high, chances of a 51% attack are vrery low. Darkcoin was higher than litecoin this year but it dropped dramaticly. I am not endorsing litecoin, or saying people should buy it, I am just pointing out a few differences to bitcoin and other altcoins

 

[kambone]

Also LiteCoin is easier to adopt. You can mine it with consumer-grade hardware and invest with less cash. Especially at this low price.

 

[Theo Goodman]

Unfortountly that is no longer true, there are scrypt asics now, as soon as the price rose to 49$ the manufactures started developing asics for litecoin, some say they are not really asics but just FPGAs on crack.

 

[holyroller]

Looking like it's going to be the bottom value.

I can't see digital currencies really having a long term future with the way they currently work, people seem to use them more for speculation and pretty much a boom/bust scenario occurred and basing it's value on USD is always going to be doomed to failure.

 

[Theo Goodman]

While it is true that the market is mainly speculation at the moment, there are so many more uses and we are starting to see some of those uses now. Im going to make another post about blockchain technology to explain some of the utlitiy behind crypto beyond speculation. A boom occurred and we are not in a bust, the price is way down now, but today it is around 380$ Summer 2014 around 100$ that is not bust imo, the market is small and young , about 5 billion market cap.

What do you mean "how it works now" you mean how people use it ,or that it is not easy to use?