It is time that “fear, uncertainty, and doubt” gripped the market. Litecoin dropped more than 30% to around $20. In late December, Bitcoin crashed overnight without any catalyst, dragging down all the cryptocurrencies. In January, Litecoin started the new year with a 12% drop to $244, which was the sign of the bear trend.įrom March to April, Litecoin was unable to get rid of the bearish control and further slid to trade between $110 to $60. In fact, the whole crypto market loomed over a downtrend.
The crazy rise gained it a 500% increase in 2 months. In May, Litecoin obtained a small surge to reach $30 for the launch of the protocol, which attracted more interest from traders.įrom November to December, Litecoin took advantage of the crypto market’s boom to hit a record high at around $371 on December 19th. In March, Litecoin saw a boost attributed to the introduction of Segregated Witness (SegWit), which helped it reach $16. Also the same year, Litecoin was listed on Coinbase, which is one of the largest crypto exchanges.īut there were detailed events that directly affected Litecoin’s price. Charlie Lee posted on Twitter a chart of the volume of various cryptocurrencies, showing that Litecoin’s trading volume was 20% more than Bitcoin’s on December 12th,2017.
Looking back on history from today’s stance, the basic one was the dramatic increase of people’s interest in Litecoin. What drove the rally? Reasons are various behind the rise. Eventually, it skyrocketed at a startling pace in 2017. Staying at a low of few dollars for 6 years, except for a small bump attempting to reach $50 in 2013, its price made no movements. LTC Price History of 2017 and Previousįrom its beginning in 2011, Litecoin’s development was as quiet as dead water. Litecoin’s History Price 2017-2020īefore doing the Litecoin price prediction, We should learn more about Litecoin’s history. If for you Bitcoin bears risks too large to lose a huge amount of money for its high value (about $45,000 at the writing time), Litecoin called the silver to Bitcoin’s gold, can be a choice to lessen investment damage and diversify your portfolio. Though Bitcoin is the largest coin in the market, attracting more than half of crypto traders to put money in it, its juicy profit is much more competitive to earn and is dangerous along with huge loss. Nowadays, Litecoin is distracting traders’ attention and is increasingly wide-accepted around the world with its rising value and profit. Like other dominant cryptos, LTC is available to be traded both on mainstream exchanges such as Binance, Coinbase, OKEx, etc. Litecoin’s ValueĪs of now, Litecoin has a market cap of about $11 billions and a fully diluted market cap about $13.4 billion, and trading at $160.71 on Novewber 7th, 2021. Generally speaking, Litecoin is secure in the transaction, fast in payment, and low-cost and effective in LTC mining. With its advantages over Bitcoin in technology, Litecoin can serve as a testing ground to improve Bitcoin. Additionally, rather than Bitcoin’s algorithm with SHA-256, Litecoin adopts Scrypt as an algorithm based on the use of mining hardware such as ASIC miners or a GPU mining rig. On confirming transaction speed, Litecoin is four times faster than Bitcoin in producing blocks with 2.5 minutes, while Bitcoin takes 10 minutes in the same process. However, there are some aspects distinguishing Litecoin from Bitcoin. Thus on the basis of an open-source global payment network, Litecoin does not subject to any central entity. It shares many features with Bitcoin, such as Segwit, Lightning Network, because it is a fork of Bitcoin. What is Litecoin (LTC)Ĭharles, a former Google employee who later became Engineering Director at Coinbase, created Litecoin in 2011. Let’s anticipate Litecoin’s value via predicting its price in long term. How valuable will Litecoin be in the future? Traders may ask. As one of the top-ranked cryptocurrencies, Litecoin draws more and more attention, because its features and potential value are proved to earn traders high profits.
Over the past decade, Litecoin has managed to obtain a foothold in the financial market. In this essay, we aim to provide Litecoin price prediction in 5 years for traders who may have an interest in yet with not much knowledge about the coin.
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