LITECOIN - Undervalued?!

I felt compelled to write my first blog on Litecoin because of the recent upward spike that Litecoin had undergone. Litecoin had gone up 30% this last week and I believe it's no where near done. Of the 3 cryptocurrencies on Coinbase I feel that Litecoin is the most undervalued and has the greatest potential to double/triple up before the year is over... Why do I make this claim..? Well let's take a look at what Litecoin actually is and how it compares to Bitcoin as they are similar in many ways ..

Charlie Lee, the creator of Litecoin had mentioned that the objective of Litecoin was to be the silver to Bitcoin's Gold.. But that's just scratching the surface.. The motivation behind Litecoin's creation was to IMPROVE upon bitcoin. Some key differences for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin's 10 minutes. The fact that Litecoin block rewards are double the Bitcoin's will certainly play a key role to the popularity for miners down the road. The average block time for Bitcoin is 10 minutes where as Litecoin is 2.5 minutes.

But back to my point of Litecoin being UNDERVALUED. If we look at the total amount of coins that Litecoin has in circulation
we see the number 51.6 million coins against Bitcoin's 16.4 million . So now we have deciphered that there are 3 times more Litecoin than Bitcoin; HOWEVER- in terms of price we are looking at $45.14 against $2531 per coin.... Even if we were to triple up that 45$ it would be $135 per Litecoin..Not even close to BTC's price. How can something so similar to BTC or even arguable BETTER than bitcoin have such a big difference in price?? Another important aspect to look for in any cryptocurrency or stock for that matter is the amount of VOLUME. We see that volume for Litecoin is close to 50% of the market cap ($2.3 billion MC vs. $1.1 billion in volume.) Where BTC's volume is 3% of the market cap ($41.5 billion market cap vs $1.15 billion in volume.)

CONCLUSION:

My last few personal comments on why I speculate Litecoin to be a good investment. On their website (https://litecoin.com) you can literally see that a significant amount of merchants accept Litecoin as a form of payment for their goods and services. If and when Litecoin receive massive market adoption, the price of Litecoin as Redditors always say can "go to the moon!" There is also a petition for Amazon to accept Litecoin and Bitcoin as alternate forms of payment which further pushes for adoption of cryptocurrency as a legitimate form of currency.

As a student of the cryptomarkets and life I would love to know what you guys think of Litecoin? Do you agree or disagree with my speculation? Let me know in the comments! :)

THANK YOU FOR READING!