Litecoin grew 100% in the first quarter of 2019. Over the past three months, the price of cryptocurrency has doubled. According to CoinMarketCap, the price of LTC has increased from $ 30 to $ 61 per coin.
On the eve of the imminent halving, the cost of Litecoin increased by 100%. This is the largest indicator of growth in the entire history of cryptocurrency. The dynamics of the growth rate was recorded by CoinMarketCap, where over the past day was an increase of another 1% (against the dollar).
Record growth rate of Litecoin
It is important to note that before such a grand reversal of the course, the price of Litecoin dropped significantly several times in previous years. For example, in 2014, the cost of LTC fell by almost 46%, and in 2016 it fell 6%. Last year, when the general trend of the cryptocurrency market began to slide into a bearish trend, Litecoin also fell by 49%.
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Experts associate the rapid growth of the cryptocurrency rate with fast halving. Already in August of this year, the remuneration for miners will be halved. According to the assumptions of technical analysts, on August 8 the reward for each mined block will fall to 12.5 LTC.
Recall that Bitcoin, in turn, did not show great results, and the bullish pattern did not start its reversal. At the same time, analytics of the RSI indicator formed several jumps in the Litecoin course. If we analyze the weighted average rise in the rate of “digital silver”, then each highest price position is lower than the previous one. This may indicate that in the near future the price will begin to decline due to the depletion of bullish positions, and may rebound to a three-month moving average (MA) of $ 55.
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LTC price doubled in the first quarter of this year. Recall that our editors have already written about the previous rise of Litecoin last month, when the crypto-coin crossed the psychological border of $ 40.
Editor: Yulia Krasnaya