Looking back at Litecoin prices in November 2012 I can see that one Litecoin was valued at 0.05 Dollars. This week a Litecoin is valued at $4.
If you do some calculations you will discover that the price has increased 80 times in the last year. That’s an increase of 8000%. Take a look at the return on investment in your regular bank account. You will be lucky to get 1% in a savings account since the start of the recession.
The profits that can be made with crypto are quite frankly amazing. Bitcoins have recently reached over $400 doubling in value. If you had invested a small amount in bitcoins at the outset you would now be a millionaire. I believe that Litecoin still has a long way to go in terms of price rises. A litecoin is currently hovering around a value of $4 per coin but I certainly think there is scope for the coins to reach at least half of what bitcoins are worth.
There have been recently developments that are quite exciting. For example Shopify have recently started accepting bitcoins as payment. With a base of over 70,000 online stores, the number of goods that can potentially be purchased with bitcoin has expanded once again. There have also been stories regarding the owner of Ebay stating that they may accept bitcoins in the future. The implications of this could be huge. If Ebay or Amazon start accepting BTC or LTC then the prices of these currencies will explode.
I for one am currently mining for Litecoin, selling services for LTC and also working on launching a new Litecoin pool service. I am a firm believer that there is a very good future for crypto currency.