Price Analysis

Litecoin Price Analysis: Strong Fundamentals of LTC/USD Hint at Bullish Medium-term

  • Litecoin has many big events on the line. It reached its all-time high hash rate.
  • By the end of 2019, the coin may reach $150.

Litecoin (LTC) is often recognized with the crypto king, Bitcoin (BTC). It is called lightweight Bitcoin. Though it is based on the same Bitcoin protocol, it uses a different hashing algorithm. In the recent past, the coin has achieved quite a number of milestones. There are even larger occasions which can give impetus to the value of Litecoin (LTC). Litecoin’s halving is scheduled after every 840,000 blocks, and it is happening in the next two months. Along with this, the coin has got the highest hash rate of all time. And the first-time holders have huge expectations from the coin. These factors will come into the play, which may push the coin to higher limits and maintain its pace throughout the year. Litecoin (LTC) is likely to have bullish medium-term, and by the end of 2019, the coin may see the value 150 USD.

We should analyze the current figures of the coin to understand the growth pattern.

LTC/USD YTD Chart:

YTD LTC/USD Chart - 6 June

Litecoin Statistics-

Litecoin (LTC)06th June 08:10 UTC
Rank05th
ROI (Return On Investment)2,318.30%
Coin Circulation62,099,251 LTC
Market Cap6,469,352,338 USD
Litecoin Price in USD103.93 USD
Value in BTC0.01336435 BTC
24h Volume3,684,456,580 USD

LTC Price Comparison-

Litecoin (LTC) experienced a short-term fall right at the starting of this year. It lost almost 23% over 5 days on 13th January. Since then, the coin has grown gradually, and it recorded a huge growth on 04th March. Litecoin gained 98.86% in 33 days, and it crossed 90 USD mark for the first time this year. The market cap and the value of Litecoin (LTC) on 06th May were respectively 4,510,533,422 USD and 73.89 USD. The current market cap and the value of each coin are 43.42% and 40.65% more than the figures for last month.

Litecoin Price Prediction-

As mentioned earlier, owing to the significant upcoming events, Litecoin will emerge as a winner in the long-term. The medium-term outlook is absolutely bullish, and by the end of 2019, the coin is likely to roam around 150 USD.

Conclusion-

Before buying fresh coins, we advise the investors to wait for some more days. If the coin plays stable, no price is better than the current price. Otherwise, the chances of getting below 100 USD are also brighter.

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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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