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Price Analysis

Litecoin (LTC) Price Analysis: Is It All About Remaining Vigilant Over BTC’s Price To Decide Whether To Invest On LTC Or Not?

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Majority crypto enthusiasts think that LTC will do good this year. But, simultaneously, they are also making investors remind of the fact that the current crypto market is highly volatile so any prediction will not be perfect as these are bound to change at any time. LTC is definitely one of the cryptocurrencies that are functioning pretty well in spite of the great turbulent conditions of the crypto market. LTC is gaining much recognition among all other altcoins and investors are keen to invest in this. With so much hope on LTC, many predictors have also claimed that it can reach $500-$600 mark which is pretty high in case if LTC gets sustained in this great volatility.

We must not forget that BTC is the leading crypto since 2009 and it is still unputdownable. It is expected that BTC will definitely attain many heights at the end of 2019 which will be positively reflected on the price of LTC in the future. Moreover, it is very safe to say that transactions get conducted at a much lower speed in BTC’s network, so, even it is upgraded, and there is more traffic on BTC’s network, there will be clogging of its system. This will automatically draw the traffic towards LTC. Also, LTC is faster and more secure than BTC, and it is known to many investors. That is the reason why many investors have already started shifting their choice from BTC to LTC as the later is not only similar to the former but it way more fast, secure and also involves fewer transaction fees.

Now, if the current status of LTC is considered, we can see that it is on a bullish trend and apart from this, the following information is available:

  • Present market cap: 4,863,315,796 USD
  • Present trading value: 78.80 USD
  • Market rank: 5
  • Circulating supply: 61,720,864 LTC

Current Statistics:

Litecoin

The above chart shows that currently, LTC is getting traded at a value of 78.54 USD/0.01175709 BTC (UTC time 05:51). Its current 24h volume is worth of 3,133,547,752 USD. The same chart also shows that towards the middle of April of 2019, LTC had a value of 83.58 USD with a market cap of 5,126,982,084 USD. So, within approx. 1 month, the value of LTC has been decreased by -6.03%.

LTC Predictions:

Considering the potentials and the market volatility, we think that by the end of this year, LTC can have a value of $250. LTC is definitely worth investing but, as we mentioned earlier, it’s very uncertain about assuring of its persistence. Fluctuations will be high until it reaches the end of this year.

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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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