Litecoin (LTC) Price Analysis: Litecoin’s Price Has Been on Relentless Optimization

Litecoin is an open-sourced blockchain based digital currency. It is completely decentralized, and the transactions are not confined to a single server and are available to everyone. Litecoin cryptocurrency was created as a hard fork from the original Bitcoin blockchain to make it faster, cheaper and more efficient. These reasons termed this cryptocurrency as BitCoin Lite. It is one of the most valuable cryptocurrencies with increasing prominence since 2017.

LitecoinLTC is currently getting traded at USD 61.19 (07:34 UTC). Based on its mcap, it is the 5th largest cryptocurrency with a circulating supply of 61,097,036 LTC.  Its current market cap has a trading value of USD 3,738,182,065. On the reports from CoinMarketCap, the current value of LTC is 60.65 USD or 0.01499546 BTC (14:09 BTC). Its current market cap is getting traded at USD 3,705,342,378 with 1,851,942,324 USD as its 24h volume which is relatively higher by 31.70 percent from the value of USD 2,813,404,008 on February 28 at 18:34 UTC. The market value started off at $1800 million and had been range bound to $2500 million until February 08, with its lowest on February 01 of USD 1,890,171,185. The overall market bounced up and has been on an uptrend with inconsequential lows. The market value reached it’s highest recently on March 28 with its MCap value – USD 3,792,193,498. However, the current value shows a minor setback of 2.29 percent drop since then. The 20-day Exponential Moving Average also shows that the market is an uptrend, with its values rising from USD 3,485,806,407 on March 09 to the current value. The rise in price value from 57.33 to 60.65 USD offers fair resistance support to the cryptocurrency. This significant growth pushes the digital currency into bullish pressure.

Litecoin being the 5th largest currency attracts analysts to predict in favor of its growth. Smartereum predicts the Litecoin to close around 600 USD by the end of 2019 with bullish persistence. Crypto ground predicts the price value to go up by 59.03% with the price reaching up to 97.7108 USD at the end of 2019 and in five years’ time period, the cryptocurrency is expected to reach its high of $342.6806 with an increasing percentage of 457.75%. Coin switch is also in support of the increase in values. It estimates the coin to rise in price up to 205.83 USD by the end of the year and the 5-year prediction expects an increase up to 905.118 USD. Unfortunately, wallet investor deduces degrading prices for the coin by the end of 2019, with a low of $8.725 and a high of 14.673 USD.

Currently, the market is under the bullish rule, and the estimations that 2019 will be positive with the continuing bullish pressure until the end of 2019 with the price reaching as high as 905.118 USD is possible if the trend continues without any substantial lows going forward. For the next five years, the prices of BTC are predicted to be on the increase. Buyers should take advantage of this current market and invest further in it. As per predictions and the overall markets’ credibility, investors are in for a long term higher returns with Bitcoin in the future. The current market by itself will satisfy the needs of traders with plans of short term investment.

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