Litecoin Price Index – Real-time LTC rate
Litecoin Price Live Performance Indicators
Litecoin Price Summary
The digital currency Litecoin was trading at $43.74 with a market cap of $2,933,722,167 at the time of writing. This trading value is notable, as the price of Litecoin has been steadily rising since its market low in March of 2020. Litecoin’s comeback on the markets is inciting an increase in investor interest in what is often referred to as the ‘silver’ to Bitcoins ‘gold’.
Litecoin’s recent rising success on the market comes after years of market highs and lows. In 2020, LTC has managed to reach favourable trading outcomes the likes which have been scarcely seen since its market high of $356.43 per in 2017. This development is partly due to recent global events causing unrest in the world’s fiscal currency markets. Many investors are now turning to Litecoin as it is quickly becoming not only an attractive investment option but a useful payments system as well.
Most cryptocurrency markets are volatile by nature, and Litecoin does not deviate from this fact. Volatility is often a key component in creating profitable entry opportunities into crypto markets for traders and investors. However, it’s essential always to remember that prices change and that they can often change suddenly and unpredictably.
Litecoin Price History
Litecoin has progressed significantly since its initial trading value of $0.30 in 2011. Over the years, this digital currency has experienced substantial price fluctuations. In 2013, Litecoin introduced a new and improved version to the crypto markets, and for the first time, the price of LTC moved into the double-digit range. However, like many cryptocurrencies, Litecoin had experienced a long period of stagnation until the spring of 2017.
In 2017 Litecoin experienced an upswing on the crypto market when they announced that they would be introducing their segregated witness protocol upgrade. This announcement positively influenced the price of LTC as it rose to $16. In May of the same year, the protocol was implemented, and the value of the coin rose to a relatively astronomical $30 per coin.
Further into 2017, Litecoin’s development team implemented the lightning network. The development of this new network led to increased investor interest, and the price of LTC soared to $70 in September 2017. Due to the overall cryptocurrency market success during 2017, this cryptocurrency reached its all-time high of $356.43 by mid-December.
At the end of 2018 and into the beginning of 2019, Litecoin managed to stabilise after a period of volatility. During the first half of 2019, LTC’s value increased four times from $31.02 to $138.40. This significant price hike can be attributed to the expectations surrounding the digital currencies halving event of August 5th, 2019. The event turned out to not be as rewarding as some had hoped, and this led to an unfortunate downward trend—however, recent indicators in 2020 project the return of Litecoin’s success.
In September of 2020, Litecoin still retains a position in the top ten cryptocurrencies, continuing to display price growth potential and remains a viable investment option.
Litecoin Price Prediction
When looking at Litecoin’s price predictions, it is essential to examine them from many different angles and to remain watchful of developing situations. There is plenty that can be learned from reviewing and predicting market trends. However, it is essential always to remember that you will have to practice responsible risk management if you want to succeed in crypto market trading.
Trying to predict how Litecoin will fare on the markets can be tricky. Therefore it is essential to consider a few factors if you want to make the best possible investment in Litecoin. Technical analysis, world events, and expert opinions should be considered.
The year 2020 has seen many expert predictions that Litecoin is set to continue improving on the global markets. Additionally, according to technical analysis graphs, the digital currency is trading within a symmetrical triangle. These graphs demonstrate that if Litecoin breaks down, it will drop to prices below the $20 mark. While a breakout could propel this cryptocurrency above its former all-time high. 2020 has seen Litecoin stagnate to some extent, but recent analytic projections have speculated that LTC is set to rise, and if not significantly, then at the very least stabilise.
Litecoin price analysis
Global events such as the US presidential elections and the COVID-19 pandemic caused crypto markets to falter early on in 2020. However, this has since improved as many investors are now turning to cryptocurrencies like Litecoin. This is due to the sense of security that digital currencies are offering investors during these turbulent economic times.
Many experts have weighed in on the future of Litecoin and whether or not it will surpass it’s stagnating period brought on by the crypto market crisis in March 2020. These leading experts have stated that Litecoin price could, by the end of the year, trade anywhere within a range of $47 to $124. This leads to a positive overall outlook for the trading price of LTC.
When we look beyond 2020, predictions state that Litecoin could potentially soar in early 2021. This can be partly attributed to the partnerships and integrations that this digital currency has in development. Some predictions have placed LTC at an incredible $600 by the end of 2021.
Beyond 2021 there is speculation that Litecoin will steadily gain more traction on the markets. Should many investors become attracted to this cryptocurrency’s reliability and affordability in terms of payment method and lower transaction fees, this could very well be the case. Realistically Litecoins price prediction for years to come will ultimately depend on the adoption level that it manages to achieve.
Expert Tip on the Price of LTC
Some may say that Litecoins development has been stagnating, but the planned September 2020 upgrade Mimblewimble is sure to propel this digital currency into the future. The privacy protocol upgrade is attractive to current and future investors and traders. Mimblewimble will help hide the identities of holders, senders, and recipients of Litecoin tokens, increasing anonymity. This upgrade will also improve the network’s ability to scale and handle more transactions and bodes well for future price trends.
Litecoin was founded in 2011 by former Google employee Charlie Lee and measured by market capitalisation, Litecoin is in the top ten cryptocurrencies at the time of writing. It is a decentralized peer-to-peer payment system that is largely based on Bitcoin, but with some notable improvements.
Founder Charlie Lee created Litecoin in Bitcoins’ image, but also to be a better, cheaper version. This blockchain cryptocurrency will only ever see a total of 84 million Litecoins in circulation. This reinforces the coin’s position as a deflationary currency. In contrast to Bitcoin, another factor that sets Litecoin apart is that the LTC network generates a block every 2.5 minutes.
Unlike several other altcoins, Litecoin can handle more transactions due to shorter block generation times. LTC also has attractively low transaction fees of 1/1000 of a Litecoin to process a transaction. These benefits and inherent scarcity, which makes hyperinflation impossible, are qualities that could achieve mass adoption for the coin.
Notably, Litecoin has partnered with major gaming brand Atari. Recently it was confirmed that LTC is going to be integrated throughout the Atari entertainment company. The partnership is proving Litecoin’s credibility and increasing user adoption to the network. Additionally, the digital currency’s confirmed agreement with MeconCash in South Korea is attracting more investors to it. This partnership means that more than 13000 ATMs in South Korea can now be used to withdraw LTC. These developments help push Litecoin into the mainstream arena and garner a more significant community base.
Litecoin Value Compared to Other Cryptocurrencies
Frequently asked questions
According to experts, Litecoin is here for the long term. Favorable trading prices have been following Litecoin on the market so far in 2020. Importantly note that crypto markets are volatile, so nothing can be said for certain.
If Litecoin and Bitcoin’s current prices remain the same, Litecoins market cap could grow faster than Bitcoins. This is all subjective, though, and many factors should be considered.
Litecoin’s prices can be found at a number of sources such as global trading reports, liquid exchanges, and even from a simple Google search. Remember, however, to only trust reputable sources.
According to data and expert opinions, Litecoin is relatively stable in comparison to other altcoins available today.
Yes. If you employ the services of a recommended broker, and the markets are moving positively, you will likely turn a profit should you choose to trade only in Litecoin.
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