Future of litecoin

I used to mine LTC back in the day when it was trading around $8 and on a slow decline. At the time my friend had convinced me to invest in mining and I knew little about crypto at all. I invested in the miners, he set it up, and I watched the money slowly come in. At the same time the value was slowly decreasing over the next few months and it was costing more in electricity than it was worth. I wish I would have read more into crypto at the time because I probably would have bought some bitcoin for mere hundreds if I had. I eventually just turned them off because the lower consumption was costing too much. Oh how I wish I had not. In total I mined about 80 litecoins.

Ultimately I moved and packed everything up and forgot about them for over two years. They lived a quiet life on my MacPro during this time. Fast forward to the end of 2017. A discussion about bitcoin made me check the value of litecoin online. Needless to say I was sitting on a ton of money that i didn’t even remember I had. After a week of trying different passwords to get by the encryption I placed on my wallet I was able to send the litecoin to an exchange. I even bought more litecoin under $100 and watched that week as it climbed to over $300. I sold. It settled down under $200. I continued investing in other coins.

I don’t have any litecoin at the moment but I keep a very close eye on it because I believe that any day now it will take off on another run. The transactions are cheap and the process times are fast. I prefer to use LTC over BTC whenever possible because of that reason.

If I had known then what I know now about the technology of crypto, I’d be in a much better financial situation. I’ve always been an early adopter with what I can afford. If I could afford a Tesla when they first came out, I would have waited in line for one. I had a lot going on in life those two years that my coins sat dormant otherwise I would have bought up a huge position in litecoin when it was about $2 before it took off.

To sum it up: Litecoin has a lot of room to grow still and it runs on a solid platform that will easily be one of the coins that will come out on top in the end. It’s one I would recommend holding a stake in when the market starts moving back upward again. Considering it’s ATH was about $350, there’s a pretty decent chance it will see those numbers again at some point in the near future.