Litecoin (LTC) Price Analysis: Litecoin Abrupt Growth May Cool Off, The Next Resistance Should be at 90 USD
Litecoin (LTC) was founded by Charlie Lee. It is based on the Bitcoin protocol. It is considered as a peer-to-peer cryptocurrency. It uses the hashing algorithm. The market leader, Bitcoin takes 10 minutes of processing time, whereas Litecoin takes only 2.5 minutes for processing the transactions. It uses scrypt in its proof-of-work algorithm. This scrypt allows consumer-grade hardware for mining coins. This algorithm is a sequential memory-hard function. It needs asymptotically more memory than a non-memory hard algorithm.
As per market share, Litecoin (LTC) is ranked 5th in the market.
The ROI (Return on Investment) stands at 1788.90 %.
The current circulation of coins stands at 61,402,984 LTC.
The current market cap as on 19th April at 04:04 UTC stands at 4,979,944,057 USD.
The value of each coin stands at 81.10 USD and 0.01549240 BTC respectively.
The 24 h volume at the current UTC stands at 2,554,892,118 USD.
Just out of the crypto winter the Litecoin (LTC) has started the year with a relatively lower figure of 30 USD. The value has been consistently increasing for the last 90 days. But it has not shown any abrupt change over a day. The more than 150 % growth was achieved slowly and steadily. However, along with the global crypto market, Litecoin (LTC) also grew after 1st April. It jumped almost 50 % in 3 days. But, the market intervention was not permanent. It is now on the way to gain its stable route. The market cap of 19th March was 3,693,953,841 USD. And the value of each coin in terms of USD and BTC was 60.61 USD and 0.01501396 BTC. The current market cap is 34.8 % more than the market cap of the past month. And the value of each coin has also gained 33.80 % in the last 30 days.
Looking at the growth level of Litecoin (LTC), we predict the coin to move further, but only after getting back to its stable line. Litecoin will fall back to 70 USD level before growing stable. The medium-term outlook is 90 USD by the end of next quarter. The long-term outlook is absolute bullish. The coin may reach as high as 150 USD by the end of 2019. The 2020 prediction should go 250 USD.
We advise the short term investors to wait for the coin to touch 70 USD level, then it will make a good buying position. Medium-term holders and long term holders will be benefitted by moving with little patience.