It’s an interesting time to be a Litecoin (LTC) investor. A few hours ago, Litecoin founder Charles Lee sent out the following tweet,
“The flippenning (ETH>BTC) will never happen. But the flappening (LTC>BCH) will happen this year.”
He also shared a chart showing how Litecoin (LTC) market share is slowly closing the gap with the market cap of Bitcoin cash.
You are probably, what does flippenning even mean, and how does it relate to my Litecoin holdings? Well, flippenning means a point in time when any other cryptocurrency will have a large enough market share so as to dethrone bitcoin. If this is what is about to happen to Litecoin as Charles Lee is insinuating, then you can be sure that the value of Litecoin (LTC) is about to head to the moon, and for good reason.
First of all, if you have been following the cryptocurrency market for some time now, then you may have noticed a trend where the value of altcoins is somehow correlated to that Bitcoin. Whenever the value of bitcoin goes up the value of most altcoins follows suite. Conversely, whenever bitcoin crashes, Altcoins follow suite even though there may be no fundamental reason for them to crash. Therefore, Bitcoin acts as some sort of prohibitive value meter for the altcoins market.
If Litecoin gets itself out of this bitcoin stranglehold, you can rest assured that its value will skyrocket. It could easily be worth thousands of dollars within a few years. And this is not just a case of throwing figures around, as is common in crypto space, it’s an analogy that has a serious fundamental backing to it.
For starters, Litecoin is almost similar to bitcoin in many aspects, but bests it on issues such as transaction speeds and costs.
In essence, the only reason why Bitcoin is worth a lot more than Litecoin at this point is because of first-mover advantage. Bitcoin simply came first and it’s what most investors got to know of early. However, flippenning will change this and unlock the true value of Litecoin (LTC). That would be huge because if bitcoin is worth $10k, then you can expect the value of Litecoin to be around that price level, when not correlated to bitcoin.
On top of that, Litecoin has some great innovations coming out, which guarantee it exponential value growth. Take for example the case of Litepay. Using Litepay, people can convert Litecoin into any fiat currency through a card all across the world. This is huge because it would put to an end to the whole volatility issue that plagues the cryptocurrency market. Bitcoin already has such a system, Bitpay, but it’s very inefficient due to the problems of cost and transaction speeds that have plagued bitcoin for some time now.
With all these factors in play, it’s easy to see why the flippenning will happening, and unlock the true value of Litecoin in the near future. Even a Litecoin valuation of $3000 and above is pretty much possible. It’s time to buy some more of Litecoin (LTC).