Price Analysis

Litecoin (LTC) Price Analysis : What The Future Holds For Litecoin Investors?

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Litecoin (LTC) has become a great option for the cryptocurrency investors who are looking to splurge on digital tokens apart from bitcoin and ethereum. It is also a decentralized digital currency and abides by the same encryption techniques like other cryptos to help transfer funds and confirm digital transactions. The main difference between LTC and BTC is that bitcoin mining is limited and its coins are also few but LTC coins are more in number, and its transaction rate is way too faster than BTC. The creator of LTC was Charlie Lee, and it came into being on 13th October 2011.

Current status of LTC

At present, LTC is getting traded at USD 46.73 (UTC time 07:10). It is currently standing at the 5th position in the present cryptocurrency market. Its present market cap has a trading value worth of USD 2,838,308,670. Currently, 60,740,686 LTC is available to trade in the cryptocurrency exchanges. Compared to yesterday’s price, the value of LTC has been decreased by -0.49%. So, currently, it is following a bearish trend.

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Price analysis of LTC by Litecoin Charts

Litecoin

On the basis of the above chart, it is seen that currently, LTC is getting traded at 46.83 USD or 0.01243829 BTC (UTC time 07:14). Its current market cap is getting traded at a value of 2,844,291,340 USD. Its current 24h volume is worth of 1,199,537,608 USD. The same above chart shows that the value of LTC, one month back, was 34.28 USD. Considering these two price points with one month gap in between them, we can say that the value of LTC has been on a bullish trend by 36.61%. Its earlier price point of $37.71 has provided a very good support level to this bullish propensity of Litecoin.

What does the future hold for LTC?

Being the 7th largest cryptocurrency, LTC has a market cap of over $12 billion. LTC has been one of the best performing cryptocurrencies so far its past price ranges, and returns on profits are concerned. Even, in the last year, LTC has performed well enough. According to majority crypto predictors, 2019 is a very good year for LTC, as its price range will be towards on higher side mostly, in spite of the great volatility of the crypto market. Many crypto analysts predicted that by the end of 2019, LTC’s value could be as high as $1500. Some other predictors assume that on November 2019, LTC can touch the mark of $507. So far its long term forecast is concerned, by 2020, the value of LTC can be $780-$1374.

All these predictions are sufficient enough to indicate that Litecoin will be performing very well this year. Its price ranges will be on the higher side most of the time; thus, assuring all its investors of very good returns. Even, in the upcoming years also, it can give higher returns to its investors.

Overall thought

LTC has a very good technological basis. Its community is amazing, and it abides by all the necessary regulations which assure safety to the investors. On top of that, the positive price predictions are also good indications to the investors to splurge on LTC for very high returns.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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