The Litecoin price prediction 2019 has been positive for a long time now. Ever since the price reached its all-time low, the price of Litecoin has been moving higher against the USD. Between November and mid-January, the price of Litecoin (LTC) moved from $20 to $85. During the recent Bitcoin bull rally, Litecoin moved as high as $110 before it started correcting lower against the USD. The silver to Bitcoin’s gold has proven itself resilient amid the bearish pressure in the market. Will Litecoin recover higher before the weekend? The Litecoin price may hit $70 soon according to the Litecoin price prediction 2019 on Bitcoin exchange guide.
Litecoin Price Prediction 2019 – Litecoin News Today – Litecoin May Hit $70 Before The Bulls Kick In
Litecoin price prediction 2019 got a major boost recently due to the improvements on the Litecoin network. You see the Litecoin network is powered by distributed miners who use the proof of work consensus mechanism. It is faster and more efficient than the Bitcoin blockchain because it is more decentralized and more scalable. The time required for block generation is less than the time required on Bitcoin. This makes Litecoin a more idea option for merchants who want quick payments with little to no latency.
The atomic swap and Lightning Network that were integrated on the blockchain have opened the Litecoin network to a world of limitless possibilities. The layer-2 network has grown significantly in recent times. The node processing speed has made the Litecoin network even faster than it was at first. It has also provided extra security for the Litecoin chain. After the upgrade, the Litecoin fees dropped by a tenth. However, no one knows whether this will disincentivize miners or not. Experts have predicted that the Litecoin price will rise by 4.5 within the next three months.
Litecoin News Today – Litecoin Price Prediction 2019 – Litecoin Current Price Today
At the time of writing, Litecoin (LTC) was trading at $79.21. This means that it is down by 9.98% against the USD and down by 6.19% against BTC. The LTC trading volume is $3,358,555,460 and the market capitalization is $4,855,125,841. It’s true that the bulls are losing momentum short-term but they aren’t out of the race yet. The price may fall below $70 if the bears continue to apply pressure on the market but it will bounce back when the bulls have gathered enough momentum.
Litecoin (LTC) Price Today – LTC / USD
There is a strong support at $75. If Litecoin hits this support, it would gather enough momentum to move higher toward $90 and eventually $110. Falling below this support will see the price of Litecoin move as low as $50 mid-term. However, it’s unlikely that this would happen. The Litecoin price prediction 2019 is still bullish and with the Litecoin halving only a few days away, there is no way the bears are going to maintain their hold on the market. Hopefully, within the next trading sessions, the price of Bitcoin will recover against the USD and carry other cryptocurrencies, including Litecoin, along.
What do you think about the Litecoin price prediction 2019? Will the price of Litecoin fall as low as $70 before recovering against the USD. Share your thoughts in the comment section.