Recently, a lot had been happening with Litecoin. A fork took place in Litecoin similar to Bitcoin which led to Litecoin cash. However, Litecoin had adopted a different algorithm compared that of Bitcoin which provides Litecoin with a higher transaction speed and block creation speed. This is probably the main reason that gives Litecoin more and more attention.
Also, it is much cheaper than Bitcoin numerically. This is the reason why traders are also using it on a consistent basis. Owing to this very reason, many traders think that it can increase significantly in the future.
Will it overtake Bitcoin?
An obvious and inevitable advantage Bitcoin has over Litecoin is it’s pioneer status in the cryptocurrency space thus making it difficult for Litecoin to ever overtake. This is the reason why even though it might provide you with the appreciation in the future but it is difficult for Litecoin to increase further. It has already fallen significantly from the peak. This is making investors nervous as well. Many of the investors are stuck at the peak levels.
This is the reason why even after the recent developments, most of the people are not entirely bullish on Litecoin. Many traders also feel that Litecoin will be stagnant in the near future given that its appreciation already took place.
Thus, while Litecoin can provide you with decent returns but it might never overtake Bitcoin.