Blockchain

Litecoin exchange rate forecast: LTC/USD fails, despite the 6.5 percent growth to $50

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Investors of Litecoin can look forward to a strong Trend of Altcoins in the past seven trading days. The price of LTC/USD climbed within one week to more than 6.5 percent and is currently trading at 47,35 dollars. However, it does not have the crypto-currency still managed the technical resistance in the price range of $ 50 to break through. At 49,64 Dollar a steep climb ended at 2. June and, in consequence, there was a significant price correction to around 45,50 dollars. Since then, a slight upward trend, however, is again observed.

The most important facts about the LTC/USD exchange rate development

We consider the most important facts about the course of development of LTC/USD in the past trading week:

  • The rate maximum in the past week was 49,64 Dollar at 2. June, 13:38 CET.
  • The course minium of the trading week, reaching LTC/USD on the 30. May at 04:20 PM CET when 44,24 dollars.
  • The Course of the past week is 46,94 dollars.

LTC/USD is listed currently slightly above the Weekly average. The market capitalization of Altcoins dropped in the past 24 hours, however, an increase of 36.8 million dollars, and estimated currently at 3,057 billion dollars. In the crypto-Ranking by market capitalization, Litecoin is more to 7th place behind Bitcoin, Cash and Bitcoin SV. The pursuers hot EOS and Cardano.

Litecoin 76 percent from the year high far

Compared to the low of the year on 13. March at 30.28 Dollar LTC/USD has posted in the past months, a significant Kuranstieg. The value has increased by more than 56 percent. This is a strong value for such a comparatively short period of less than three months. However, other Top have Coins such as Bitcoin, Ethereum, or Cardano, an even better value, development of hung.

From its peak in the year 2020, LTC/USD is still relatively far. 15. February, the rate stood at 82,96 dollars. Of this best brand the Altcoin is in spite of the Aufwärstrends more than 76 percent of the way. For comparison: Bitcoin is currently only 5 per cent below the high for the year. In the case of Ethereum, there are less than 20 percent.

Nevertheless, the year 2020 has introduced for the investors of Litecoin the bottom line is so far a return. In comparison to the output value of about $ 41 at the 1. January, the share price has risen by about 14 percent.

Litecoin: increase of 666 percent possible?

The big Hype around Litecoin, however, is already history. After the Altcoin currencies for a long time of the Top 5 Crypto by market capitalisation, had counted, and some experts had him certify even more potential than Bitcoin, Ethereum, or XRP, the course evolved in the past few years, not very encouraging for the investors of LTC/USD.

The Altcoin is in 2020 at the lowest level for about a year. In June 2019, about reached Litecoin still has a value of just under $ 134. And who still remembers the highs of Litecoin by the end of 2017 of more than $ 360. The Altcoin is currently about 666 percent.

For new investors to the crypto market Litecoin could make an interesting investment. Whether the Altcoin remains in the long term, so cheap, however, currently not forecast.

Investors should keep in any case, as always, the courses daily in order to be able to in a timely manner to price changes.

The course information in the article is based on the crypto-currency chart from CoinMarketCap at the time of article publication.

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Image source: Photo by desert Igel

Saurabh Singla
Saurabh Singla is a former Mechanical Engineer turned digital marketer. He has been in the digital marketing industry for over 6 years and has worked with clients across different sectors including FanFare, BitMachina, Bayslope amongst others. Saurabh is also an Author and has written over 30 websites for his clients including INC42, Yourstory etc. After founding CaphIQ in 2020, he is helping businesses and Personalities for their Personal Branding and online visibility.

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