Will Litcoin (LTC) price bounce back this year? The general market price forecasts have been uncharacteristically grim especially as the bearish season continues. However, there may be light at the end of the turnel for some virtual currencies including Litcoin (LTC).
Litecoin (LTC) Price Today / USD
Litcoin (LTC) Price Has Been Unstable For Better Part of This Year
It is no secret that for much of 2018 the digital token market has seen prices dwindle and Litcoin (LTC) isn’t an exception. At some point, Litcoin’s (LTC) value dropped to 150 USD from 230 USD in January only to rally to 255 USD in February according to crypto writer Ulysses Smith. Litcoin (LTC) has seen its value drop to below 75 USD as of press time which means the token has lost 70 percent in value since the start of the year. Experts had earlier forecasted that Litcoin (LTC) would rally to between 500 USD and 600 USD this year. Even if this does not happen, the token will likely bounce back by year end. See why below.
Why Litcoin (LTC) Price Will Rebound by December 2018
The expectation in the market is that digital assets will rally again before year end and LTC won’t be left out.
The SEC’s Decision on Regulation in The Digital Token Market May Propell Litecoin (LTC)
The SEC’s clarification regarding Bitcoin (BTC) and Ethereum (ETH) could be beneficial to Litecoin (LTC). LTC has been seen as a lite model of Bitcoin (BTC). So, if the SEC states that Litcoin (LTC) isn’t a security as well, investor confidence will balloon. The CME and CBOE could consider introducing Litecoin (LTC) futures, which will potentially help its value skyrocket.
Litecoin (LTC) continual adoption will inevitably take a new great turn during its first summit in San Francisco, this September. This could bring in companies like Tesla, Uber, and Starbucks into partnership with the network. There’s a good reason to suggest that the bearish season will end with Litcoin (LTC) rebounding to the January high of 200 USD if not more.