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Price Analysis

Litecoin (LTC) Price Analysis: Litecoin’s High Transaction Fee is a Gaffe or Intentional?

  • Litecoin levied a transaction fee of $17,500 for making transactions worth of $1000.
  • The 2019 prediction price goes at 500 USD.

Recently, Litecoin (LTC) was dragged to controversy when one user paid a fee of $17,500 for making transactions worth of $1000. The transaction has been done reportedly by the China-based mining pool LTC.top in block 1636831. This massive transaction fee pushed the average fee from $0.05 to $0.70. It should be noted that the transaction fees were not this high when the coin was being traded around 400 USD in December 2017. Users have raised doubt over this transaction and said this might be a case of human error or money laundering. However, this whole story is yet to be verified officially. There seems to be no impact of this incident on the value of Litecoin (LTC). We predict a bullish medium-term outlook for Litecoin. By the end of 2019, the value should be somewhere around 500 USD. We should now analyze the current facts and figures of Litecoin.

LTC Current Price Statistics-

Litecoin Chart

  • Litecoin (LTC) is the 6th largest coin in the market.
  • The ROI (Return on Investment) stands at 2607.15%.
  • A total of 61,965,201 LTC coins are in current circulation.
  • The market cap as on 28th May at 02:09 UTC stands at 7,133,109,605 USD.
  • The value of each coin stands at 117.37 USD and 0.01312458 BTC.
  • The 24h volume stands at 6,277,997,279 USD.

LTC Price Comparison-

Litecoin (LTC) started the year with a low price. The lowest point of the coin was on 13th January at 30.37 USD.  However, at the onset of April, the coin gained 51.17% in just 5 days. And another rise can be seen on the recent price. In just 6 days. The coin gained 34.01% to reach the current value of 117 USD. The market cap and the value of each coin were respectively 4,432,912,436 USD and 72.79 USD on 28th April. Current figures are respectively 60.91% and 61.24% more than in the past month’s figures.

LTC Price Prediction-

Litecoin (LTC) will have a bullish short-term as well as medium-term outlook. The next resistance points will be there at 130 USD and 150 USD. By the end of this year, the coin will be traded around 500 USD.

Conclusion-

No time is bad for buying Litecoin (LTC). The way it has grown in the last few months, long-term holding will give at least 3 times of the 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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