The graph above shows changes in Litecoin’s exchange rate to the U.S. dollar. Taking into account the fact that the price of a cryptocurrency is set by the supply and demand equilibrium, Litecoin is a true functional currency. One can observe the relationship between the rise and fall of Litecoin’s exchange rate to Bitcoin. This behavior is similar to the correlation between gold and silver.
When one speaks of a cryptocurrency, most people will think of Bitcoin. However, there is also Litecoin, which currently has the second highest capitalization among all existing cryptocurrencies. One of Litecoin’s main advantages is the rate, at which a new block is generated. Complexity is selected to have a new block generated every 2.5 minutes, which is four times faster that the rate of generating a new block of Bitcoin.
It is expected that investments will soon flow into Litecoin in much the same way it happened with Bitcoin. Investors began to note Litecoin’s potential given that, over its lifetime, the price of Litecoin has been 2-5% of Bitcoin’s value. For example, when Bitcoin was at $1,110, Litecoin’s price was $43 or about 4%. Today, the price of Litecoin is 2% of Bitcoin’s price. In the long run, Litecoin’s exchange rate is expected to climb due to a rise in Bitcoin’s exchange rate and an increase in the cryptocurrencies’ ratio of up to 5% as it happened in November 2013.
At this stage, Litecoin is one of the best options to earn money via cryptocurrency speculation.
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