Price Analysis

Litecoin Price Analysis: China-US Trade War Benefits Cryptomarket, Litecoin (LTC) Soon To Turn Green

  • A China bond sell-off to give wings to Litecoin, Bitcoin, Ethereum, and XRP.
  • Litecoin to soon recover intra-day drop.

Litecoin experienced a steep fall in the intraday market. The coin touched its 24hr high at $119 but soon dropped due to the selling pressure. The investors of Litecoin are going through a rough day, but the recent news will turn out to be a ray of hope.

The US-China trade war will now be seen affecting the US bond market. Reportedly, China is selling out the US-based treasuries which could directly affect the blockchain and push them towards new highs.

Apparently, the investors are breaking into the cryptocurrency market due to the trade war amid China and the US.

LTC Price Analysis-

The chart is taken from Trading View at 13:10:06 UTC for Litecoin price analysis:

Litecoin price chart - may 31

Particulars Statistics
Rank6
Price109.85 USD
ROI2,460.56%
Circulating Supply62,015,726 LTC
Market Cap6,827,914,510 USD
24 hr Volume5,387,111,438 USD

The chart is reflecting a clear growth in price from March 2019 to May 2019. Although, after touching $119 the price of Litecoin dropped, but the YTD report is indicating towards a brighter future. In the coming weeks, it is expected that Litecoin will cross $125 or it could also touch its 52-week high of $127.

Litecoin Price Predication and Comparison:

If we compare the charts from the beginning of 2019 till now, then there the prices reflect a tremendous progression. As on 1st January 2019, the price was at $30.37 and on 31st May 2019, at 13:16:42, the price is dealing at $109.85.

For a more precise picture, let’s take the data from 6th May 2019 and compare with today’s price. On 6th May, Litecoin was at $75.43 and today it is $109.85. The increase in price is noted to be by 45.63%.

According to our assumptions, in 2019 Litecoin can go above $140. In the next two years, the price could increase by 4%-5%.

Conclusion:

If the news reported by Fobes about the China sell-off turns out to be true then, the investment in Litecoin will give huge dividends. For now, this could be a good time for investors to purchase more coins as the future looks brighter.

People looking short term and long term investment can now put in more money in the currency for maximum result.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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