Investors are taking notice of Litecoin in 2014. Litecoin the Silver of cryptocurrency is here to stay and the currency is ranked 2nd on coinmarketcap proving the coins as strong as ever in terms of available supply. The price of cryptocurrency has been quite erratic recently and we have seen some fairly dramatic drops. But lets put this in perspective. The price of Litecoin now is still almost 500% higher than it was 6 months ago. Bitcoin however is just a shade over 100% higher than its price 6 months ago. Transaction rates for Litecoin have also increased by over 100% since late 2013. This shows the strength, resilience and support for Litecoin.
I believe that there are still large profits to be made from LTC as it’s still early days. With the introduction of ASIC Mining Rigs later this year I believe that this will cause the price of Litecoins to increase in value. This is simply due to the fact that difficulty will go through the roof and all the remaining Litecoin GPU rigs will not be viable anymore. GPU rig miners will need to move to other lesser crypto currencies as LTC mining will no longer be profitable.
My advice for Litecoin supporters is that they should be patient and hold on to their coins as there will be a price surge for Litecoin in 2014. Just as we saw for Bitcoin in its younger days. Although it will be sad to say goodbye to Litecoin GPU Mining there are some exciting times ahead for the Silver Cryptocurrency.