Traders may be suspicious that the price of LTC/BTC when compared via long term charts shows Litecoin has underperformed the mightiest of the cryptocurrencies in a rather stark manner. While Litecoin was once one of the top-rated cryptocurrencies regarding market capitalization - within the top five according to respected sources during the early days of cryptocurrency trading - LTC/USD is now ranked as only the 14 th largest digital asset by a handful of market cap observers who monitor volumes, meaning something has occurred within Litecoin which has perhaps made it less appealing to speculators. The Litecoin (LTC) price prediction 2021 will likely follow a positive correlation to the broad cryptocurrency market, but there are factors that appear to give LTC/USD a distinct outlook of its own.
The month of August certainly produced a rather nice climb for Litecoin, but prior to this bullish trend, LTC/USD suffered steep losses and saw lows just above $100 in late June and late July. Litecoin, like all cryptocurrencies, has enjoyed days of highs and extreme lows as technical and market behaviors have frequently caused storms.Īt the time of writing in August 2021, LTC/USD has gone through the whirlwind of its spring 2021 surge and slump like most of the major cryptocurrencies. Litecoin compared to Bitcoin was held up as a faster cryptocurrency regarding the ability to ‘mine’ its blockchain, and its transactional ability was also hailed as faster than Bitcoin, and these elements remain true to this day for the decentralized digital asset. However, not everything has been wine and roses for Litecoin early adapters, speculators and investors. However, Litecoin then suffered a large fall in value over the coming year in line with the broader cryptocurrency market. Like the other major cryptocurrencies, LTC/USD essentially went from a speculative asset few had ever heard of in early 2017 with a value of little more than nothing, to a digital asset that achieved a high price above $400 per coin in December that same calendar year. However the digital asset began trading in earnest with wide market interest in 2017 like many of its major counterparts, when cryptocurrencies jumped into the spotlight as their speculative gains caught the attention of the financial media. Litecoin was essentially created in 2011.
This caused a groundswell of support as people asked what the price of Litecoin would be several years in the future. There was a time when LTC/USD was rated within the top 5 of cryptocurrency market capitalizations as its proponents argued positively regarding its merits compared to the likes of Bitcoin. Litecoin entered the world of cryptocurrency with a rather impressive start when digital assets began to find favor with speculators and investors throughout the globe.