Litecoin (LTC) is one of the most talked about digital currencies in the crypto space. As a digital asset, Litecoin (LTC) has attracted a lot of users to its platform due to the fact that it is reliable, fast, and cheap. A lot of people even see it as a better alternative to Bitcoin (BTC). The digital currency has gotten the attention of the media, and as such, a lot of investors see it as a preferred investment option.
After a couple of years of being at the top with other digital currencies, Litecoin (LTC) is set to break out from its present status, but the team behind the coin still have so much work to do.
Can Litecoin (LTC) Test the $10k Mark in 2020?
Back in November last year, the value of the digital currency was $100. The following month, which is December, the value of the digital currency surged significantly to trade at $331 per coin. Nevertheless, this year has seen massive losses not only on Litecoin (LTC) but the entire coins in the crypto space. One of the major factors that affect the value of Litecoin (LTC) is the market activities of Bitcoin (BTC).
Litecoin (LTC) Price Today – LTC / USD
With Bitcoin (BTC) hovering around the $6k mark, the value of Litecoin (LTC) is also staggering back and forth. As the trend seen before the end of 2017, Litecoin (LTC) is slowly and steadily recovering from the price dips. Irrespective of the fact that the digital currency is recovering slowly from its dips, it still has the potential to test the $1k mark before the end of this year and also hit $10k in the year 2020 – but all this depends on certain factors as pointed out by Forbes.com.
The first factor is the future growth of Bitcoin (BTC). As the value of Bitcoin (BTC) increases in the future, Litecoin (LTC) will follow suit. The second factor is the mainstream adoption of the digital currency as well as its underlying blockchain technology. The last but not the least is the partnerships, developments, and listings of the coin.