The crypto market is currently in a prolonged sideways phase. BTC/USD swings up and down in the price range of around $19,000. Even with the most important altcoins, no strong price movements up or down can be observed at the time of the article’s publication.
But it seems like the calm before the storm. Technical analyzes show that a massive upward movement or correction can be expected shortly. Analysts expect the Bitcoin price to rise above the $20,000 mark in a bullish scenario. Same thing with altcoins including the current value of litecoin.
So, what is the current value of litecoin? Today, we’ll find out!
Current Value of Litecoin in USD: Key Things to Know
How was mentioned before, the directional decision will also have an impact on the altcoin market. Litecoin investors, for example, have been expecting a price of $100 for a long time. But so far the current value of litecoin in USD hasn’t reached more than $94 in the current bull market. A new high for the year was reached, but unlike Bitcoin, Litecoin is still a long way from previous highs.
LTC/USD reached around the $146 mark in 2019. However, currently, LTC/USD is trading only at around $84. This means that the altcoin price is currently almost 74 percent away from this level.
Let’s find out the current value of litecoin in USD and look at the most important facts about the price development of LTC/USD in the past trading week:
Current Value of 1 Litecoin: LTC/USD Exchange Rate Development
Let’s consider the most important facts about the price development of LTC/USD in the past trading week. What is the current value of 1 litecoin?
- The exchange rate maximum of LTC/USD was reached on December 8th — $84,71.
- The exchange rate minimum of LTC/USD was reached on December 12th — $70,23.
- The median price last trading week is $77,68.
- The current value of 1 litecoin — $81,56.
The distance to the annual high of 2019 is considerable if you take into account that the Bitcoin price reached a new all-time high only last week (depending on a crypto exchange). Ethereum, the most valuable altcoin by market cap, also experienced a rapid increase in 2020 and its market value almost fivefold. ETH/USD was last listed higher in January 2018.
Current Value of Litecoin: LTC/USD Rate Doubled in 2020
It’s necessary to note that 2020 has gone very well for Litecoin investors so far and the price has more than doubled since the beginning of the year. The magic mark of $100 should be exceeded when the Bitcoin rate manages to reach $20,000. However, as is the case with most altcoins, Litecoin’s all-time high of more than $360 is still a long way off. An increase of around 328 percent would be necessary to surpass this record.
However, it’s possible that this level can be achieved in the medium term. The last small altcoin rally in November showed how fast prices can increase. For example, XRP was able to triple its value from $0.25 within a few days, before there was a slight correction to currently around $0.6.
Due to the correlation to altcoins, it can be expected that the current value of litecoin will initially decrease significantly. But this fact shouldn’t stop the long-term upward trend in the crypto market, provided that the environment continues to develop so positively. Almost every day, another institutional investor is announcing his/her entry into the crypto market.
What is the current value of litecoin? What other interesting facts about LTC price do you know? Feel free to share your knowledge in the comments!