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Price Analysis

Litecoin (LTC): Another Upward Breakthrough Might Drag the Price Above $100 Mark

Litecoin (LTC) is mainly aimed at solving the problems that had hindered the Bitcoin Network for a long time. Henceforth, it was designed in such a way that the scalability issues of Bitcoin can be tackled efficiently. According to technology geeks and experts, Litecoin is four times faster than Bitcoin when it comes to transaction speed. Litecoin is an open-source project and which allows it to inculcate fresh ideas from time-to-time and eventually push the price of Litecoin even higher. In Litecoin blockchain, an improved Proof-of-Work algorithm is utilized to reduce the complexity of mining operation. Due to these features and additionally fewer transaction fees, a large number of investors are looking closely at the variations of Litecoin, waiting for the right time to invest in. On top of that, the latest enhancement in privacy, i.e., Mimblewimble privacy protocol in Litecoin will surely improve its market capitalization, adoption, and usefulness.

Litecoin

According to CoinMarketCap, today at UTC 09:44, Litecoin (LTC)’s market capitalization was 4,917,508,704 USD with a total of 61,607,158 LTC chips in circulation. Being at the 5th position in cryptocurrency chart, Litecoin market an all-time high of 375.29 USD on Dec 19, 2017. However, at present it is trading around 79.82 USD, having a trading volume of 3,736,172,937 USD in the last 24 hours.

Comparison:

Trading variation in Litecoin (LTE) over a period of 25-days can be visualized as, on April 08, the altcoin was trading at 89.49 USD, but afterward, its value declined stiffly, and today it is trading with a loss of about 11%. Nevertheless, yesterday was a somewhat good trading day for the crypto as it opened the trading day at 73.68 USD and with an intraday price hike of 0.094422 USD (0.13%), wrapping up the day at 73.78 USD. Additionally, the trading volume for yesterday was 2,903,392,114 USD. Moreover, against Bitcoin, it was valued at 0.01362626 BTC per chip.

Litecoin (LTC) Price Prediction:

Litecoin (LTC) is very much similar to Bitcoin and has a long way to go. Most of the investors and trading channels are infused with positive momentum regarding the future of Litecoin. The market sentiment is bullish, and it is highly likely that another push in the upper spectrum will drag the price above $100. Though there is a little bit of uncertainty regarding the magical number, a bullish run is utmost certain. Furthermore, the targeted price is quite achievable well before the end of the year, but a lot depends on overall market trends and the price action of Bitcoin.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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