**Litecoin is one of the oldest and most primitive after Bitcoin which was founded way back in 2011. The cryptocurrency which was a tough competitor to Bitcoin always secured its place within the top 10 cryptocurrency list, with respect to Market capitalization. But how far will the bulls run for Litecoin?
Interestingly, the founder of Litecoin, announced the project on a popular Bitcoin forum and termed it as a ‘Lite version of bitcoin’. And hence share similar features as the most dominant crypto. However, this altcoin owes to bypass limiting factors like lower mining and transaction speed. Will LTC manage to poise these aspects with its bottom line adhering to an inexpensive currency?
Did you know that Litecoin can mine blocks four times faster than Bitcoin?
Undoubtedly most investors within the crypto space Hodl Bitcoin. So why not make a move with Litecoin, that seems to circumvent flaws and generates higher TPS at meager costs? To make your Litecoin trading journey easier, we have amassed a guide to the working and future forecast of this bitcoin alternative. Dive in to know everything about LTC.
With a trading value of $132.32, Litecoin resumed the year 2021. On a bullish note, the coin dramatically started to escalate. By the mid of February, the price surpassed $200 and further keeping the uptrend intact, the price reached the yearly highs at $335. LTC was one among the terrible sufferers of the May 19 Market crash. Following PoW controversies, Litecoin fell from $210.94 to $180.54, in a single day! Further, the coin plunged and deviated from the $200 juncture.
LTC weekly chart quotes for a mild cup and handle trend pattern, indicating that the litecoin price is switching into a mild uptrend. Resistance at $138.27 is under disruption. With an ascending channel coupled with breaking bears, Litecoin may touch new resistance, moving north!
Litecoin is all set offering an additional layer of security against viruses and trojan horses, making itself a reliable option. On this note, if the network progresses with security layers, the LTC price may spike and hit $201.66 by the year end.
On the flip side, many critics and investors are still doubting the future potential of this altcoin, despite being in space for seven long years. Hitting such a string, FUD can cause Litecoin price to collapse and hit lows at $121.79. But if the coin survives volatility effectively, then it may be tradable at $159.93.