Price Analysis

Litecoin (LTC) Price Analysis: Stop Selling; Litecoin’s Growth Story is Not Yet Over

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  • Litecoin (LTC) has managed to gain 200% in just 6 months.
  • The 2020 prediction target remains at $220.

Litecoin (LTC) is one of the biggest performers in the whole crypto market. The hopes with this coin for a likewise performance in the next few months are also really high. Litecoin (LTC) could gather huge traction of attention when it gained almost 200% in just 6 months. Lots of investors have sold their lots in anticipation of a fall due to a price correction. But we predict something different. The short to medium term outlook of Litecoin is absolutely bullish. The coin is likely to get a 140% surge, and the value may reach as high as 220 USD. But the waiting period needs to be until 2020. With this high projection, we should now analyze the current figures of Litecoin (LTC) to understand the pattern.

Current LTC Price Statistics-

Litecoin Chart

eToro Crypto
  • Litecoin (LTC) is the 5th largest coin in the global crypto market.
  • The ROI (Return on Investment) stands at 1946.27%.
  • A total of 61,891,726 LTC coins are in current circulation.
  • The market cap as on 23rd May at 01:48 UTC stands at 5,444,895,771 USD.
  • The value of each coin stands at 87.42 USD and 0.01148788 BTC.
  • The 24h volume at the same UTC stands at 3,419,206,923 USD.

LTC Price Comparison-

Litecoin (LTC) is one of the few coins to have performed consistently and without any huge price variations since the starting of the year. The lowest point of the coin was on 13th January at 29.74 USD, and the highest point of the coin was achieved on 15th May at 103.51 USD. The highest growth was done at the onset of April. In just 6 days, Litecoin gained 51.47%. The market cap on 23rd April was 4,761,575,219 USD, and the value of each LTC coin was 74.28 USD. The current market cap and the value in USD are respectively 14.35% and 17.68% more than the figures for last month.

Litecoin Price Prediction-

As mentioned earlier, Litecoin (LTC) is going to have a really bullish medium-term and long-term outlook. By the end of the 1st quarter of 2020, the coin should be traded around 220 USD. The next resistance is at 90 USD and 100 USD.

Conclusion-

New entrants can enter to the growth story of Litecoin at this low price. A huge margin will profit them if they can retain their holding until the specified time.

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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