Price Analysis

Litecoin Price Analysis: Litecoin’s 400% Rise in the Value Since December is Not to Miss

  • Litecoin (LTC) managed to grow over 400% since the last December.
  • The 2019 target price should be 300 USD.

At the times of Bitcoin’s unparalleled movement in the market, if there is one coin which has managed to stay in the topic that would be Litecoin (LTC). Every other trader in the market is watching Litecoin’s price movement after it got recovered from the December low. Recently, the CNBC Fast Money Panel was all praising Litecoin and its price movement. One of the participants in the show said, “Sell the house, sell the car, sell the kids. Buy litecoin!” The same was posted over Twitter on Litecoin’s official handle.

But the Litecoin Foundation director Franklyn Richards has warned against being overexcited. The coin may enter into the bubble if it starts decoupling from underlying activities of the foundation. He said, “Price has by far and away ran away from any on-chain metrics, meaning while this growth is positive it is not currently sustainable and we could see a pullback. Otherwise, we may risk finding ourselves in another bubble scenario sooner than we realize.” We predict the value of Litecoin (LTC) may reach as high as 200 USD by the end of 2019. Let us look at the current figures of Litecoin (LTC).

Litecoin Current Price Statistics-

Litecoin Price chart

Litecoin (LTC)30th May, 02:11 UTC
Rank6
ROI (Return on Investment)2579.56%
Circulation Coins61,994,051 LTC
Market cap7,133,323,661 USD
Value in USD115.04 USD
Value in BTC0.01335980 BTC
24h volume4,345,898,332 USD

Litecoin Price Comparison-

As mentioned earlier, Litecoin has performed really well in these five months. The coin has overcome the lowest point in December last year and managed to grow 400%. The lowest point of the coin in this year was on 13th January at 30.64 USD. But a rise of 50.52% was noticed at the onset of April. The market cap on 30th April was 4,290,787,915 USD and the value of each coin was 75.57 USD. The current market cap and the value of each coin are respectively 66.24% and 52.22% more than the current figures.

Litecoin Price Prediction-

The medium-term outlook is bullish for Litecoin. The coin may find resistance at 150 USD and 175 USD. By the end of 2019, the coin may be trading around 200 USD.

Conclusion-

Buying fresh coins will be advised, but investors need to fix a long-period of holding in mind. The coin may get decoupled and again start showing weakness in the market.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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