Forex and Crypto News

Litecoin reaches the highest level since summer 2019

19:40 17 December /2020

Against the background of the Bitcoin rally, other cryptocurrencies continue to update their highs.

Litecoin rate (LTC) rose to the highest level in the last 16 months. At the time of publication, the Litecoin price is slightly above $100 - this is the highest value since the beginning of July 2019.

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The capitalization of LTC increased by 22% per day, to $6.608 billion. Now the coin is in the fifth line in the ranking of the largest digital currencies.

However, compared to Bitcoin, LTC is performing much less this week. If BTC has already updated all possible highs, exceeding $23000 on December 17, then Litecoin has not yet been able to even reach June 2019 indicators. Then this altcoin rose to $141.

Recall that after the August halving (reduction of the miners' reward), LTC began to suffer losses. The bottom for the coin was the $30 mark, which it tested during the March crash.

Since then, Litecoin has risen in price by 150% in annual terms. LTC reached its highest point in its history on December 19, 2017. On this day, the altcoin soared to $375.

Analysts predict that LTC will move higher if Bitcoin continues to push the market to new highs. However, Litecoin is unlikely to be able to repeat the race three years ago.

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