At a high of $93.50, Litecoin has taken quite the tumble now sitting at about $60.95. Interestingly enough, this price action looks very similar to Silver's price action since 2011. In my humble opinion I see Litecoin going as low as $50 in the short term, that is to say if there's not some breakout news about litecoin such as a fork or a trending individual (such as someone from Goldman Sachs) pumping up Litecoin saying how great of an investment it is. In the longer term, say 2-6 months, I see Litecoin reaching levels of around $100. It is hard to say that this will happen sooner than later, considering the low volume that has plagued Litecoin. I could see Litecoin being ignored for a bit longer, but there's no way Litecoin will remain shy from higher levels.
To give you a frame of reference of my comment relating Litecoin to Silver, here's a long term silver chart.
Pretty Similar, huh?
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Benefits for miners are likely a large part of the outlook for a cryptocurrency's future (if mining is used).
While Litecoin uses SHA256 for its hashing algorithm (like bitcoin), its implementation renders parallelizing calculations impossible. Parallelizing a calculation requires more memory, resulting in a tougher competition for miner acceptance. Another notable difference is that LTC's protocols have a fast faster block creation time, enabling miners to have a better opportunity to solve more blocks.
All in all, I believe LTC presents a better environment (currently) for miners than BTC.
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