The currencies in the cryptocurrency market are now again enjoying the surge and bullish movement in their values. In 2018, the investor’s losses their hopes on decreasing value of several currencies such as Litecoin. The value of the currency was falling at great speed.
Litecoin’s price dropped up to the value of $22.93 USD from the value of its all-time high. Even the experts were not expecting that it could ever recover from such a loss, but the value of the Litecoin increased by 416% and as per the CCN news the value of the Litecoin will again increase and it is just starting. The experts are saying that Litecoin halving is also one of the factors that are behind the increase in the LTC price.
Litecoin Price Status: The value of the Litecoin is trading at $116.78 USD and it is increased by 2.31%. The market capitalization of Litecoin is $7,239,960,796 USD and the 24-hour volume of the currency is $4,576,980,447 USD. The Circulating supply of the currency is 61,999,001 LTC and the max supply is 84,000,000 LTC.
The experts are continuously talking about the bullish movement in the cryptocurrency market as the Bitcoin’s price is also increasing and they are thinking about the next thing coming in the market. Some of the analysts are analyzing the price of the Bitcoin value or its parabolic run and the value of Litecoin on the CNBC’s program “Fast Money”. At the end of the show, the show’s host yell: “Sell the house, sell the car, sell the kids. Buy Litecoin!”
However, it was just a joke; he was trying to attention toward the Litecoin’s value increase of 416%. One contributing factor for the increase in the value of Litecoin is the onchain metrics on the Litecoin blockchain. Many of the popular faces have endorsed the currency and more addresses of the currency are also activated. And the most important thing of all is that price is increasing that the investors or traders of the Litecoin are expecting a surge in the value because of Litecoin’s halving.
However, every expert is saying that it is the time to invest and hold the Litecoin currency, but the Director of Litecoin Foundation, Franklyn Richards is advising that the investor needs to be calm down and not to buy Litecoin just yet because it can be stuck.
“Price has by far and away ran away from any on-chain metrics, meaning while this growth is positive it is not currently sustainable and we could see a pullback. Otherwise, we may risk finding ourselves in another bubble scenario sooner than we realize.”
Right now the increase in the value of Litecoin is just 416%, but the experts are saying that it is just starting the increase again by 130% before the schedule of the August’s Litecoin halving event.