There is no better time to buy or HODL Litecoin (LTC) than now! The whole market (or a great portion of it) is in the green after the top 3 coins gained massively this past week. Bitcoin’s hour of miracles, saw its price move up by over 20% on Thursday. Ripple finally broke the $0.5 mark resistance and Ether is back to above $500 mark, finishing off the week for any cryptocurrency investor on a high. Litecoin on its part boosted back above $130 mark briefly on Thursday but has since dropped to $125 as at time of writing. This presents an opportunity to buy as the coin looks to double in the coming months.
Litepay is coming of age
LTC is one of the founding coins in the cryptocurrency field. In fact, Litecoin is known as the first Bitcoin fork that dealt with Bitcoin’s slow transaction times and expensive transaction fees. LTC has grown in the past few years, breaking the $100, $200 and $300 barriers, all in 2017. This came as the whole cryptocurrency market had a massive bull run during the final two quarters of the year.
With the launch of Litepay, Litecoin presents one of the most promising coins in the cryptocurrency-payments arena to date. The mobile based app is yet to reach the take off stage but with the more and more merchants take it up, the value of LTC will, with no doubt, increase substantially. The coin is currently selling at a discount with experts expecting LTC to reach $1000 by 2020.
Psychological effect of regaining 5th position
Although this week has been rather so-so for LTC on the charts, the recent resurgence will only serve as a boost for the reputation of the coin. The week started on a low as Litecoin (LTC) dropped to 6th on the Coinmarketcap ranking while EOS claimed the 5th spot. This happened as the latter had an 80% increase in two days marauding its way up from ninth up to fifth. Litecoin has however regained its 5th position on the grid as its market capitalization increased by over $600 million USD during the week.
A leaked announcement?
The recent announcement that Aliant Payment System is preparing for a massive partnership with Litecoin caused a positive move for LTC’s price. This partnership has even gained more traction from sections of the public and crypto media after APS teased their followers on Twitter on Saturday morning. The tweet showing Aliant Payment System CEO, Eric Brown, ready to sign a contract has caused most of the LTC investors and enthusiasts to come to the conclusion that the deal may just be the Litecoin Partnership.
The news may well be a false alarm. However, with the company confirming that the partnership deal will be completed by the end of Q2, then it may well be it. Aliant currently is a company worth $15.5 billion USD and transacts annual volumes of above $560 billion around the world. The deal with Litecoin will serve to allow the platform users to be able to accept LTC as a mode of payment. Litecoin will be one of the cheapest form of payment on the platform with fees of less than 1% for every transaction.
Rumors and speculation seem to point towards a large e-commerce system, such as Alibaba or Amazon taking up LTC as a form of payment. They are speculations but may well be one the drivers of Litecoin (LTC) towards the $1000-mark.