The digital currency market has experienced a sinusoidal movement this week. Digital currencies were deep in the green at the beginning of this week. However, almost all the coins in the market are now in the red. This is a common trend that is seen at most weekends. This is usually because there is less crypto news around top coins to act as a bullish trend. Many digital asset investors are also engaged with one activity or the other. Hence, there are fewer activities in the digital currency space.
Litecoin (LTC) has put up a very tough show over the past week. The recent price action of Litecoin has been fascinating. Litecoin price started this year on a very low level. In January this year, the price of Litecoin was struggling around the $35 level. The digital currency has continued to grow in price and dominance, thanks to the bullish Litecoin price prediction 2019 and the Litecoin summit. Will crypto ever recover? Is Litecoin the best cryptocurrency 2019?
Litecoin Recent Price Trend – Does LTC Have What It Takes to Be the Best Cryptocurrency 2019?
From January until this moment, the price of Litecoin (LTC) has increased by more than 200%. The digital currency broke over two major, bullish short-term Litecoin price prediction 2019. Litecoin price also hung on to the recent crypto bull run and almost hit the $100 mark. The price of Litecoin surged over the $90 level, but it encountered a strong hurdle at the $100 level.
This week has also been interesting for the coin. While Litecoin started the week in the green, the digital currency is now ending the week deep in the red. However, the day is not over yet, so anything can still happen. While other digital currencies such as Binance Coin (BNB) are posting gains, the price of Litecoin is now deep in the red by more than four percent. Binance Coin is currently the only altcoin among the top 15 digital currencies that is trading in the green. The price of Binance Coin is up by about four percent over the past day.
Litecoin Price Is Underrated – Jason Hamlin
Jason Hamlin recently pointed out the importance of Litecoin. He gave a couple of reasons why the digital currency should be taken seriously as it is a great investment option. Hamlin sees Litecoin as one of the best cryptocurrency 2019. Hamlin said:
“One way to look at the valuation of Litecoin and Bitcoin is too compare their supply token. The possible total supply of Litecoin is 84 million while that of Bitcoin is 21 million. Litecoin’s supply is four times that of bitcoin. So, the price of Litecoin is expected to be 25 percent of Bitcoin’s price. With Bitcoin trading around the $5k level, the price of Litecoin should be around $1,250. Yet, the digital currency is trading below the $100 mark.”
Some digital asset investors, traders, and crypto experts believe that the price of Litecoin underrated. They expect Litecoin price to be way over its current levels.
Litecoin (LTC) Price Today – LTC / USD
At the time of writing, the price of Litecoin is $78 after a decrease of about four percent over the past twenty-four hours. The current market cap of the digital currency is $4.71 billion. Despite its little dip, Litecoin looks set to surge higher. The digital currency has much momentum to start a price rally in the short-term. The near-term Litecoin price prediction 2019 is $100. If it breaks over its immediate hurdle at the $80 level, it could amass more traction and hit the $100 level.