Litecoin Price Index – Real-time LTC rate
Litecoin Price Live Performance Indicators
Litecoin Price Summary
Litecoin (LTC), popularly known as Bitcoin’s sister, is one of the earliest cryptocurrencies. It was created in 2011 with the hope of correcting some of Bitcoin’s flaws, such as faster transaction speed and scalability issues.
Litecoin has always been one of the leading cryptocurrencies. However, it is no longer in the top ten as the likes of Cardano, Dogecoin and Polkadot forced their way into the group. Year-to-date, Litecoin’s performance hasn’t been impressive. It began the year trading around $125 per coin, and it is now trading above $130. However, it reached a yearly high of $410 on 10th May, 2021. Since then, after the commencement of the bearish cycle, LTC dropped to the $100 sub-level.
LTC has been able to stay above the $100 level, giving it a chance to resume an upward trend if the bulls regain control of the market.
As a Litecoin investor, we recommend staying up to date with its price performance. This will allow you to make better investment and trading decisions regarding LTC.
Litecoin Price History
Litecoin is similar to Bitcoin in numerous ways and uses virtually the same parameters as the leading cryptocurrency except for a few changes. It was created by Charlie Lee in 2011 to solve some of Bitcoin’s glaring problems, such as scalability.
Following its launch, Litecoin was listed on a few marketplaces, and its price rose above 30 cents. From 2011 to 2013, LTC price continued to increase until it reached $3. By November 2013, Litecoin experienced its first bull run in the cryptocurrency market, with LTC reaching a then all-time high of $44, up by over 1,000%.
The cryptocurrency’s price was trading around the $1 region during the bear markets of 2014 and 2015. The Mt. Gox scandal put further pressure on the cryptocurrency market, causing massive price crashes. Between 2015 and 2016, Litecoin recorded a slight increase and stayed above the $3 mark. The real bull market began in 2017, when LTC rose to a then all-time high of $360 on 17th December, 2017.
The crypto market entered a bear cycle in 2018 and 2019, with Litecoin trading below the $100 point during most of the period. However, the bull run resumed last year and LTC rallied to a new all-time high. It began 2021 trading at $125 per coin and surged to $410 by 10th May, rising by over 200% in the process.
Litecoin Price Prediction
The volatility of digital currencies is one of the features that makes them very valuable assets. The possibility of a coin’s price rising by over 100% within a short period of time creates numerous profitable opportunities for investors. However, it also presents risks as the price can crash by over 70% within an instant. Hence, we always recommend integrating risk management techniques when conducting your probability-based predictions.
The Litecoin team finished implementing the MimbleWimble Extension Block (MWEB) to the network. This upgrade took place in March, and it is set to enhance scaling and privacy for the cryptocurrency.
Currently, there is no immediate upgrade on the horizon for the Litecoin blockchain. This means Litecoin’s performance could be influenced by the broader cryptocurrency market. If the broader market embarks on a bull run, LTC’s price could soar higher over the coming months. It could also underperform if the general market continues with the bearish movement. As one of the top cryptocurrencies, adoption from some top companies in the world could help boost LTC’s price this year or next. LTC has been able to defend its price above the $100 region, and this could give it a boost when the market rally finally resumes.
Expert Tip on the Price of LTC“ Litecoin has lost its place amongst the top ten to other more impressive cryptocurrencies. Its performance this year has been good, but it hasn’t been impressive. The upgrade in March was the last major network activity on the Litecoin blockchain. To consider Litecoin’s price, we encourage doing so from technical and fundamental angles. Fundamental analysis involves following the latest news on Litecoin and its roadmap events. For technical analysis, expert traders use certain tools and trading indicators such as the FIB levels, the RSI (Relative Strength Index) and the MACD line (Moving Average Convergence Divergence) to predict LTC’s price movement. ”- Hassan Maishera
Litecoin was one of the first cryptos that were created after Bitcoin. It was created to serve as the lite version of Bitcoin.
Charlie Lee designed Litecoin to become a payment cryptocurrency that can be used to send money globally in a manner that is faster, easier and cheaper.
Since its creation, Litecoin’s development has closely followed that of Bitcoin. The core protocol updates on the Litecoin blockchain are mostly based on Bitcoin’s core protocol updates. Litecoin was also one of the first Proof of Work cryptocurrencies to adopt Segwit in May 2017.
Litecoin Value Compared to Other Cryptocurrencies
Frequently Asked Questions
Litecoin has performed excellently since it was launched a decade ago. Its value is up by more than 10,000% over the past decade.
Although Litecoin was created by cloning Bitcoin’s codebase, they have certain differences, such as the block time (2.5 minutes for Litecoin and 10 minutes for Bitcoin) and maximum supply (84 million for LTC and 21 million for BTC).
Yes, Litecoin has undergone several forks over the years, leading to the creation of some cryptocurrencies. Some of the coins that were created from a Litecoin fork include Dash, Monacoin, Feathercoin, Junkcoin and Litecoin Cash.
The volatility of cryptocurrencies shouldn’t be a barrier to entry into the market. Volatility presents numerous profitable opportunities to the traders and investors. However, ensure that you carry out proper fundamental and technical analyses of Litecoin at each point to determine if you should invest in the cryptocurrency at that moment or not.
The maximum supply for Litecoin stands at 84 million, four times the number of bitcoins. At the moment, there are over 66 million litecoins in circulation.