How did Litecoin prices double this year?

The price of Litecoin rose sharply this year. The crypto money, traded at $ 56.2, was traded for $ 23 3 months ago.

Litecoin, which climbed to its highest level since October, rose over 100% in the last three months.

Market for oversold status

Litecoin rose to $ 375 in December 2017. Crypto money lost more than 90 percent of its value and fell to $ 23. Analysts claim that Litecoin could be 'over-sold' with such a dramatic decline.

This may be an impressive gain for digital asset.

Satoshi Capital's Chief Investment Officer Josiah Hernandez said, atik The price of an asset is stiff If it falls, the recovery is so steep, and this seems to be a factor in the sharp gains of Litecoin in 2019. 2

Market observers say that under these market conditions, Litecoin is in a good position for ascension and that this is combined with some strong foundations.

Strong foundations

Joe DiPasquale, CEO of BitBull Capital, the crypto-money free-fund fund, said, "Although the Litecoin may be said to have been sold excessively last year, we believe that the latest increase is a result of several factors." DiPasquale, as an example of these factors, showed the approximation of the approaching block award, as well as the significant improvement of digital money in Lightning Network technology, and the approval of the Bitcoin and Litecoin for Venezuela's national remittance system.

and most importantly, it was preferred as the currency used in transactions due to faster approval periods. X

Danny Kim, one of the executives of SFOX, said the transaction fees would be further reduced when the Litecoin Core 0.17 was released. , It is expected that the next update of Litecoin will reduce the transaction fees by 10 times, and will be more useful and valuable in daily transactions. De

Spring dream

Another important development put forward as a reason for the increase in Litecoin prices, kr The cryptocurrency, the so-called crypto-money winter, is hoping that harsh market conditions will soon end. as

Mati Greenspan, senior market analyst of eToro, a social trading platform, said, came. Crypto money seems to end in winter and people are preparing for the spring. Haberdar

News: Forbes

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