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Price Analysis

Will Litecoin (LTC) Out-throne Bitcoin (BTC) To Become The Merchants Preferred Choice?

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Litecoin (LTC) was introduced by Charlie Lee, a former Google employee, in the year 2011. The blockchain based cryptocurrency uses peer-to-peer transaction technique for easier payment transfers. Litecoin aims to make the concept of middlemen to facilitate any transaction fully redundantly. The latest upgraded version v0.17.1 has been released to overcome existing flaws in the system and achieve operational excellence. The decentralized platform also claims to process more transactions per second than Bitcoin. The miners of the crypto are rewarded with Litecoin for creation of each block. The team of Litecoin has a clear roadmap carved out for the future and is making all necessary moves to achieve the goals faster.

Current Statistics:

Litecoin Price Chart (05.04.2019 - 02.05.2019)The ROI of Litecoin is currently 1,604.55%. The circulating supply is equivalent to the total supply which is now 61,588,458 LTC. As on May 2, 2019 at 06:34:00 UTC, the market cap is recorded at 4,519,724,147 USD, the price is trading at 73.39 USD & 0.01359567 BTC and the 24 h volume is 2,665,695,577 USD. According to the CoinMarketCap, Litecoin is ranked at the 5th position in the top 100 cryptocurrencies list.

Comparison:

As on April 5, 2019, at 07:34:01 UTC, the market cap of the coin was 5,207,541,499 USD, the price was recorded as 85.09 USD or 0.01726267 BTC and the 24 h volume was 3,848,680,715 USD. The downtrend of over -13% has been continuing since the past 30 days with the lowest price being recorded as 67.27 USD & highest as 97.50 USD. In the last 7 days, the prices have dipped further with highest being 75.42 USD & lowest being 67.27 USD. Although the coin is currently trading at a lower price, the tables are predicted to turn very soon as the crypto market revives further.

Prediction:

Litecoin (LTC) in 2019 looks bullish for various reasons. Higher scalability, faster transactions and secured medium are some of the significant factors contributing to the increasing adoption of the crypto by mainstream businesses. This is going to get better in the coming days as blockchain redefines the overall enterprise model in the world of business. Contributing to this expansion of Litecoin are some of its strategic partnerships secured over the past few years. The collaboration with UFC-232 (Ultimate Fighting Championship) was clearly one of its kinds by any cryptocurrencies and resulted in good publicity of the coin. Similarly, the recent partnership with Glory provides it access to key events, social media promotions and increases overall visibility for the coin. Hence, if we factor in all these aspects, the price of the coin can be expected to show an upward movement in the second half of 2019 and can rise as high as 150 USD. From a 2 year perspective, the price can reach over 300 USD and it can peak to over 1000 USD by the next 5 years.

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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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