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Price Analysis

Litecoin Price Analysis: Litecoin is on Fire; Reached the 1-year High Price

  • Litecoin touched the 1-year highest value at 128 USD.
  • The 2019 price target remains at 160 USD.

As the whole market is reeling under pressure after the fall in Bitcoin (BTC), Litecoin (LTC) seems to have other plans. Litecoin has been growing exponentially since the last few days. And it is now being traded at the highest value in the last 1 year. After gaining over 9 USD in a day, Litecoin (LTC) is now roaming around 128 USD. The last time Litecoin (LTC) touched this figure was on May 23, 2018. Most of the experts are crediting the growth to the scheduled mining reward halving, which is due in just 60 days. It should be reported that the last time Litecoin (LTC) experienced halving was on 25th August 2015. Then the coin gained 500% over three months and fell back rapidly as soon as the halving ends. But the overall growth was 200%, which was sustained with the coin. Recently, Litecoin (LTC) has also reached its highest hash rate of a lifetime. All these factors are likely to work well for the coin. By the end of 2019, the halving’s effect must have subsided, and the value may be roaming around 150 USD to 160 USD price range. Let us look at the current details of the coin.

Litecoin Price Statistics-

Litecoin Price Chart- 11 June

Litecoin (LTC)11th June 01:48 UTC
Rank4th
ROI (Return on Investment)2,879.03%
Coin Circulation62,170,251 LTC
Market Cap7,973,598,908 USD
Value in USD128.13 USD
Value in BTC0.01610920 BTC
24h Volume5,507,044,896 USD

Litecoin Comparison-

As you can see in the chart, the current trading value is the highest for Litecoin (LTC) in a year. Before the starting of this year, the coin reached its lowest point at 22.58 USD. But it was on constant growth at the time of entering to 2019. It took the coin almost 4 months touch the 90 USD price level. It grew around 3 times its value in that period. But the momentum was lost for a short period when the coin lost 25.46% in 22 days. Since then, the coin is on the rise. The market cap on 11th May was 4,752,225,200 USD, and the value of each coin was 83.72 USD. The current market cap and the value of each coin are respectively 67.78% and 53.04% more than the figures for last month.

Litecoin Price Prediction-

As the halving is near, the coin will rise even more. But the rise will be temporary. The coin will fall once the halving is completed. So, after the price correction, the value may roam around 150 USD to 160 USD price level by the end of this year.

Conclusion-

Looking at the price trend of the last halving, it is a perfect time to invest in Litecoin.

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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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