Litecoin Price Reaches an All-time High of $84

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Today has proven to be a majestic day for Litecoin supporters. Although this altcoin is often overlooked amid all the pump-and-dump schemes, it is still a very solid currency. Thanks the recent Litecoin price gains, we now see a value go for $83. This year is a gift that keeps on giving for all cryptocurrencies, by the look of things.

LITECOIN PRICE ALL-TIME HIGH

It almost sounds like a broken record, but we have another all-time high for  a very popular cryptocurrency. After Bitcoin, Ethereum, Monero, and Dash all set all-time highs in recent days, it is now Litecoin’s turn. With a Litecoin price of over $83, the sky’s the limit, so to speak. We see a massive growth of all altcoins which have a solid technical foundation, and it would be wrong to not see Litecoin on this list.

This sudden Litecoin price gain is a bit surprising, although it was only a matter of time in hindsight. After all, we see all currencies in the top 10 hitting new support levels with higher lows and higher highs. This trend may not be sustainable in the long run, but for now, all engines are go. The Litecoin price may even surpass $100 before the year is over as nothing seems impossible in the cryptocurrency world these days. Then again, one should always remain a bit cautious as well.

Whether or not the Litecoin price can keep this momentum going, remains anybody’s guess at this point. It is good to see altcoins find their proper value, regardless of how the Bitcoin price is evolving. In most cases, the Litecoin price – along with other alts – would certainly take a big hit, but that is no longer the obvious outcome these days. An intriguing development in the world of cryptocurrency, yet one that may signal substantial growth for the years to come.

Litecoin has seen some nice trading volume over the past 24 hours. With nearly $381m worth of LTC changing hands across all exchanges, it is evident this altcoin is in high demand right now. The same applies to virtually all other altcoins, but it is good to see this established currency go with the flow. A lot of people had expected the Litecoin price to dwindle after the China debacle, but that has never been a big problem.

Perhaps the biggest surprise is how the majority of Litecoin trading volume doesn’t originate from Bithumb for a change. Instead, we see GDAX and Bitfinex dominate the charts, as they both have  a clear lead over Bithumb in third place. Three fiat currency trading pairs in the top three indicates there is fresh capital entering the cryptocurrency world, which can only be considered to be a good thing. It certainly helps push the LTC market cap above $4.5bn , further confirming the solid growth.

It will be interesting to see how things evolve for the Litecoin price. This bullish momentum affecting all cryptocurrencies cannot last forever, but there is no reason to think we will see any major changes before the year is over. There will be plenty of opportunities to take profits along the way, and traders have to make sure they do so before things eventually go through a correction.

Source: Themerkle