Price of Litecoin Increases Considerably with More LTC Coin Investor Accumulation
Last year was generally a terrible year for most assets and cryptocurrencies available on the market.
However, this year, things seem to be a bit more improved and might even get better in the near future. One of such cryptos that seem to have increased reasonably is Litecoin.
Details on Litecoin’s Increase
Recently, Litecoin (LTC) gained a tad interestingly. Its USD value increased by 13.8% to set its price at $52.86. Furthermore, its Bitcoin value increased by 10% which also set it to about 0.01357BTC.
This increase has excited a few Litecoin enthusiasts on social media as one of them, called LTC Whale Watcher, took to Twitter to say that one of the biggest Litecoin stakeholders has continuously accumulated assets even as the price increased. According to the LTC Whale Watcher, this wallet recently increased by 32,733 LTC.
Even though it is uncertain how much of the assets are kept and where they are kept, this simply means that investors have considerable confidence in Litecoin’s prospects.
The tweet read: “The 2nd largest $LTC wallet just received 32,733.6698143 #litecoin.”
The Future of Litecoin
Projections regarding Litecoin have been generally optimistic. One user known as Liveitup2050b, has expressed a desire to see Litecoin appreciate up to $200 by the end of the current year. The user tweeted that:
I think #litecoin #ltc looks a really good buy at currently $52.22. I could see #ltc at $200+ by December. We shall see!
This is not entirely far-fetched but it’s difficult to even hope something like this will happen based on one day of Litecoin fortune. There’s no telling how much the value will rise or drop in the coming weeks or months.
For now, the LTC price charts seem pretty interesting as there is little or no struggle. If it turns out that investors don’t sell as much, that could only mean that they might be waiting for the right time to dump their assets or waiting and hoping that the value would increase considerably.
Litecoin seems to be doing great and has generally already increased by as much as 14%. However, some hope that there will be a little regress pretty soon. This is because it is generally difficult for any cryptocurrency to rise very high and keep rising over a long time. The only way that a high figure could be maintained is if things don’t shoot up so high for too long.