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Price Analysis

Will Litecoin (LTC) Find Its Edge Before Bitcoin (BTC) To Remain Relevant And Attract Investors?

Litecoin is a blockchain based platform founded by Charlie Lee to enable payments in a hassle-free and convenient way. The system provided users full control over their money and assets for faster transactions. Some of the features like security, reliability, fee-less money transfer make it a preferable choice for merchants, businesses, and users. It works on the peer-to-peer principle without any middlemen interference. The decentralized open source network is built on proof-of-work algorithm & provides wallet encryption. It has gained the support of communities, financial institutions, and various traders. The miners are rewarded with Litecoin (LTC), the official cryptocurrency used on the network.

Current Statistics:

Litecoin Price Chart (05.04.2019 - 04.05.2019)

As on May o4, 2019 at 11:04:00 UTC, the market cap of the coin is 4,822,734,898 USD, the price is noticed at 78.27 USD or 0.01347435 BTC and 24 h volume is 3,971,585,732 USD. The ROI of Litecoin is currently 1,712.02% and the circulating supply is 61,617,983 LTC which is equivalent to the total supply of the coin. According to the CoinMarketCap top 100 cryptocurrencies list, Litecoin is ranked at the 5th position tailing Bitcoin Cash with a marginal difference. The maximum supply of the coin has been 84,000,000 LTC.

Comparison:

In the last 30 days, the highest price of the coin was recorded at 96.74 USD and it dipped to 82.02 USD in the last 7 days. The lowest price in the past 30 days was 67.27 USD and a similar pattern was observed in the last 7 days as well. As on April 05, 2019 at 06:04:00 UTC, the market cap of the coin was 5,293,328,756 USD, the price was trading at 86.50 USD & 0.01745991 BTC and 24 h volume was 4,129,145,268 USD. The downtrend of over -9% has been observed in the last one month.

Prediction:

Litecoin is the long term bet for the traders who have already understood the future vision of the company and are onboard with its expansion plans. The company has secured some key partnerships and has been giving its competitors a run for their money. Litecoin has been provided entry into countries like Venezuela along with Bitcoin to enable faster transactions. The prices of the coin soared after the announcement of a partnership with Beam. Similarly, collaboration with Glory kickboxing for ticketing activity is a strategic move in securing more number of followers. Litecoin team, however, has to provide an edging factor the investors and traders for its continuance and sustenance as more and more alt coins enter the market with advanced and innovative features. LTC has to stay relevant and maintain an edge over others. The highest price can be around 100 USD by the end of 2019, and it can reach as high as 500 USD in the next 2 years. By the end of 5 years and if the coin sustains the market fluctuations, the price of the coin can be 700 USD.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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