Price Analysis

Litecoin Price Analysis: Litecoin halving Invites Price Pullback; LTC Deals at $91

Litecoin is all set for the halving event, which would reduce the block rewards which miners received. The same would deplete the supply of Litecoin. This can upgrade the balance of demand in the future.

If we precisely look at the Litecoin chart from the beginning of 2019, the coin has outperformed Bitcoin. The currency has maintained itself well on the chart and in the eyes of the traders. Well, the LTC price could be dropping now, but soon it would pick itself and gain back the momentum.

LTC to USD Price Comparison:

The chart is taken from TradingView on 4th August 2019 at 06:47:37 UTC.

Litecoin price chart - Aug 4
Litecoin Chart By TradingView

Above LTC price chart is reflecting a volatile movement of the price. On 30th July, the Litecoin price shifted from $90.799 to $91.147. The upsurge marked was of 0.32%. On 31st July, the coin jumped from $91.147 to $99.865 and marked a progression of 9.57%. The first day of August brought a loss of 0.94%. The price counters changed from $99.865 to $98.903. Next day, the coin dropped from $98.903 to $94.811 by 4.14%. The coin tried to hold on yesterday. The opening and closing price was $94.8 and $94.5. Today, the coin dropped from $94.57 to $91.12 by 3.65%.

Current Statistics of Litecoin:

  • LTC price is trading at 91.98 USD.
  • ROI is marked as 2046.32%.
  • Circulating Supply has 62,959,368 LTC.
  • The market cap is marked as 5,810,392,048 USD.
  • 24-hour volume is noted as 2,207,390,803 USD.

Litecoin Price Prediction and Conclusion:

Litecoin has recently impressed many analysts with its price momentum. The coin has not only paved a successful path but also outperformed Bitcoin. We are quite apprehensive about the progress. The traders can dig in with a higher prospect of return. We would recommend investing for a long term perspective. The short-term investment wouldn’t be as profitable as the long-term investment.

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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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