The volatility in the crypto market has made it difficult to accurately predict coin prices. Despite having an amazing 2nd quarter, digital currencies are plunging. Bitcoin, the largest cryptocurrency by market cap, succeeded in rallying to above $13,000, this was shortlived as the market correction began. Since then, the altcoins have been the hardest hit. On Saturday, Litecoin and Tron lost more than 3% of their values as Bitcoin lost 3.44%. with Litecoin’s poor performance, what should investors expect after the upcoming Litecoin halving? What is the present Litecoin price prediction for 2019?
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction: LTC Price Dips By 3% following BTC’s Slump
Litecoin price recorded a drop of about $3.58% in just one hour. The coin started the day trading at $101.1153 and its market cap was $6.32 billion according to Coin Market Cap. Its price movements are often determined by BTC and within the week, LTC has reported a fall of 4.40% in the day. For the enter week, LTC recorded a 15.42% dip in price.
Litecoin has been highly traded in three different pairs including LTC/USDT, LTC/ETH, and LTC/BTC. Reports from CoinEgg exchange show that the pairs received more than $1 billion cumulative trading volume as this exchange acquired the initial three trading spots for LTC.
With the Litecoin halving coming soon, this price is disappointing for investors.
BTC Led The Way With a 3.44% Plunge
BTC price fell within one hour and is currently valued at $11,349.43 at press time. The market cap is also at $202.19 billion according to Coin Market Cap. The 24-hour trading volume of Bitcoin is $21.02 billion. This comes after the 2.83% fall in one day. Over the week, the coin reported a 0.50% fall. Bitcoin is still the largest cryptocurrency by market cap and it was mostly traded via BTC/USDT pairs on the major exchanges.
The highest trading volume of $694 million is OEX and it is followed by CoinBene with a trading volume of $677 million. BW.com takes the third spot as it recorded $648 million trading volume for BTC.
Bitcoin’s price performance has not gone unnoticed by institutional investors. The coin has completely outperformed all traditional asset investments when it comes to ROI.
Despite the coin’s downturn in recent times, it is still a lot higher than it was when the year started. On New Year’s Day, BTC was trading at $3,750 after the harsh crypto winter. The recent price is over $11,000 and this gives investors a gain of up to 206%. The yearly high of BTC in 2019 is $13,800 which would have amounted to a whopping 268% gains in a short period of six months.
Analysts still believe that Bitcoin will reach and surpass $20,000 this year despite all the hurdles it has faced this quarter.
Tron Price Prediction: Tron also Fell by 3% With BTC
Tron recently found its way back to the top ten after founder Justin Sun promised investors that it would return. However, the coin hasn’t seen much action since it joined the big names. It recorded a plunge of 3.44% with BTC. After this hiccup, TRX price was trading at $0.0284 and the market cap is $1.90 billion. At press time, the 24-hour trading volume was $519.65 million. The token as fell by about 2.70% in the day and in the past week, it recorded a drop in price of 11.65% with most altcoins in the market.
Just like BTC, the TRX/USDT pair gained more popularity than others. The highest trading volume of this pair came from HitBTC, with $46 million trade volume. BW.com was second with $41 million while OKex came in third with about $39 million in trading volume.