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Price Analysis

Litecoin Price Analysis: Litecoin Maintains the Momentum Despite the Mayhem in the Market

  • Litecoin (LTC) has been gaining despite the gloom in the market.
  • The 2019 target remains at 150 USD.

As the fall in the value of Bitcoin is impacting every other altcoin, Litecoin (LTC) has emerged as a unique coin. Its uniqueness if not just limited to its own hashing algorithm but also its market fundamentals. Litecoin (LTC) has been powerful enough to avoid the fall in the market and it is on the rise, in fact. Recently, it got its highest ever hash rate and its scheduled halving is also reaping results for the coin. The coin has been showing consistency over the last 2 months with no major instances of steep falls. As per our prediction, the coin is likely to have a bullish medium-term and by the end of this year, the value may reach as high as 150 USD. Let us analyse the current details of the coin now.

Litecoin Price Statistics-

Litecoin Price Chart -10 June

  • Litecoin (LTC) is ranked 4thin the global market.
  • The ROI (Return on Investment) stands at 2,623.13%.
  • A total of 62,159,976 LTC coins are in current circulation.
  • The market cap as on 10thJune at 08:06 UTC stands at 7,109,502,271 USD.
  • The value of each LTC coin stands at 117.14 USD and 0.01505524 BTC.
  • The 24h volume at the same UTC stands at 4,319,930,008 USD.

Litecoin Price Comparison-

Litecoin (LTC) has shown tremendous stability over the period of the last 5 months. The lowest point of the coin was on 13th January at 30.45 USD.  The first steep growth was noticed on 26th March when the coin gained around 57% over 11 days from then. But the momentum was lost all of a sudden. The coin lost almost one-fourth of its value in just 23 days thereafter. The market cap on 10th May was 4,569,348,395 USD and the value of each coin was 74.77 USD. The current market cap and the value of each coin are respectively 55.59% and 56.66% more than the values of last month.

Litecoin Price Prediction-

Looking at the current trend, it can be said that good times are ahead for Litecoin. By the end of 2019, the coin is likely to get its value around 150 USD. But the investors need to watch the resistance point carefully.

Conclusion-

As the growth story is seemingly sorted out, it would be a wise decision to start buying fresh coins. For optimum profits, one needs to hold the coins at least until the 1st quarter of 2020.

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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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