By Gaurav S. Iyer, IFC Published : November 29, 2017
Litecoin prices are swimming in unfamiliar waters.
The cryptocurrency was caught throughout the shallows spherical $50.00 for a while, nevertheless a strong current has carried it upstream. LTC prices have virtually doubled throughout the closing month.
Many of those useful properties have been concentrated throughout the closing two weeks. For event, LTC superior 46.72% in opposition to the U.S. dollar up to now week. And this launched the Litecoin to USD commerce value to $104.30.
At the similar time, the Litecoin to Bitcoin value jumped 1.76% to zero.00950178 BTC.
Prominent gurus like Mark Novogratz and Michael Arrington say we might even see cryptocurrency funding stretch into the trillions of . And, since this sample could proceed as new money pours into the crypto home, it seems to be as if Litecoin is headed to $200.00 and previous.
If you assume that this Litecoin worth forecast is simply too formidable, take into consideration that we predicted that Litecoin would exceed $90.00 when it was shopping for and promoting shut to $30.00. “You got lucky,” is the tempting rebuttal to this argument.
Maybe we did. But, if that’s the case, we get lucky tons. We moreover predicted that Bitcoin would attain $10,00zero, that Ethereum would cross $400.00, and that the cryptocurrency market cap would exceed $250.zero billion.
Those predictions seem obvious in hindsight, nevertheless we made them months and months previously, when consumers have been working scared from cryptocurrencies.
How Bullish Are Investors?
Trading volumes surged in a single day and via the early morning hours. Investors swapped $652.58 million value of Litecoin as of this writing. This mirrored a 67.79% increase from yesterday, although yesterday’s ranges have been moreover sturdy by historic necessities.
Daily Litecoin Chart
Where Are Investors Buying LTC?
GDAX might be essentially the most distinguished commerce for purchasing and promoting LTC tokens. It accounts for 18.19% of entire amount, whereas the amount two commerce, Bithumb, accounts for 17.09% of entire amount.
Bitfinex obtained right here in at amount three, with 11.76% of entire transactions processed.
We preserve our Litecoin worth forecast of $200.00 for 2018. However, cryptocurrencies are rising further shortly than imagined, and we could have to revise our estimates upward. Keep an in depth eye on our Litecoin info updates for added uncover.