Price Analysis

Litecoin Price Analysis: Litecoin (LTC) Reached All-time High Hashrate

  • Litecoin (LTC) recently got the all-time high in hash rate.
  • The medium-term outlook seems to be stable at 150 USD.

As the Bitcoin starts surprisingly, every other coin in the market, Litecoin (LTC) has another reason to cherish. Over the last 5 months, the value and the market of Litecoin (LTC) are expanding, and now it has reached its optimum hash rate. This shows the computing power dedicated to the network is also expanding. As per some experts, Litecoin’s expanding hash rate may be credited to the availability of a new miner. A new miner, Antminer L5 is now available on the network but not yet available for rent. A lot of investors and enthusiasts believe that the addition of this new miner may work as a game changer. As per our prediction, the coin may experience a bullish medium-term. The 2019 target is likely to be 150 USD.

Let us look at the current figures of the LTC coin.

Litecoin Price Current Statistics-

litecoin price chart - 5 June

  • Litecoin (LTC) is the 5th largest coin in the market.
  • The ROI (Return on Investment) stands at 2273.44%.
  • A total of 62,081,626 LTC coins are in current circulation.
  • The current market cap at 02:38 UTC stands at 6,350,951,253 USD.
  • The Litecoin value is 0.01317592 BTC and 103.09 USD.
  • The 24h volume stands at 4,271,065,288 USD.

LTC Price Comparison-

Litecoin price has been showing good growth over the last 5 months. The lowest point of the coin was at the very starting of this year. It was being traded around 29.79 USD on 13th January. Major growth can be noticed on 1st April when the coin gained 52% in 5 days, but again the coin started falling and lost 26.64% of its value in 23 days. The market cap of Litecoin in 05th May was 4,733,437,821 USD, and the value of each coin was 74.86 USD. The current market cap and the value of each coin are respectively 34.17% and 37.71% more than the figures for last month.

Litecoin Price Prediction-

As mentioned earlier, the Litecoin price is having a good period now. And the recent developments are likely to help the coin sustaining the period. We predict the value of each Litecoin may reach 150 USD by the end of 2019.

Conclusion-

With a target of long-term holding, buying fresh coins at the current rate is advised. This will benefit the traders gaining at least 50% on their current 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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