For 2014, commodities trader Mark Williams predicts Bitcoin will drop to $10. In another recent poll, 56% of Bitcoin owners think the price will reach $10,000 in 2014. Break out the Tums, because 2014 will not be for the weak stomached. If your stomach can’t handle the risk, consider Litecoin. At $24 each, the most you can lose is $24 per coin.
We are going to make a bold prediction of our own. By June of 2014, Litecoin will reach $75. This is about a 300% increase over today’s price. How will this happen? Three factors will influence the move.
First, Bitcoin will have a breakout if Overstock.com follows through with accepting it as a form of payment in June. Litecoin will follow in Bitcoins coat tails. Litecoin and Bitcoin charts have mimicked each other for months now.
Second, Bitcoin will become too expensive for the cryptocurrency buyer who wants to own round numbers of coins. In the same psychological fashion that people buy a stock after a split, people will move to a less expensive option, Litecoin.
Third, Bitcoin ATM maker Robocoin will integrate Litecoin into their machines. This in only a guess, but it would seem a simple crossover.
As usual, check back in June so you can let us know if we were right or wrong.