Litecoin is a popular P2P digital currency that allows users to conduct quick, almost fee-free payments to other people and organizations around the world. This is an international payment network and a popular cryptocurrency that is completely decentralized. This means that there are no central authorities behind it. Obviously, Litecoin, similar to other digital currencies, is based on Bitcoin. However, the creator of this currency has used the weaknesses of Bitcoin to create a better version of cryptocurrency. The original creator of Litecoin is Charlie Lee, a former Google employee.
The cryptocurrency frenzy that started last year has made Litecoin more popular than ever. An increasing number of individuals and organizations are thinking about investing in cryptocurrencies including Litecoin. Many experts have confirmed that this is a good long-term and in some cases short-term investment. Of course, this doesn’t mean that you should start investing right away without analyzing the pros and cons. But, what’s even more important is to analyze Litecoin price. By doing this, you will be able to identify some trends and understand why is this cryptocurrency so volatile. In addition, you will be able to make a sound decision that won’t put your money at great risk. Obviously, you should remember that investing in any cryptocurrency, just like investing in precious metals, real estates and bonds, comes with a certain risk.
Litecoin was introduced in 2013. Back then, only a small number of people were aware of its existence because cryptocurrencies were not a trending topic. The price of Litecoin was very low. One Litecoin was sold for $4 to be more precise. But, by the end of that year, Litecoin has increased its value by about 1000% – it was sold for $39. But, this boost didn’t last for long. After a few months in 2014, the price got its initial value or even lower at one point. For three years, there was nothing interesting going on around Litecoin. The price of this cryptocurrency was between $2 and $5.
Then, all of a sudden, starting from April 2017, Litecoin price started climbing up. At the end of this month, the price was $15. In May, it reached impressive $30. At the beginning of September one Litecoin was sold for $80. In the middle of December, this cryptocurrency reached its highest level – $366. It was sold at this rate for a few weeks, but it fell drastically in February. After a short bouncing up and down, Litecoin is sold for around $130 today.
Having spent a day with Nick Leeson (ex Barings) many years ago I fear this is history repeating itself Price Analysis, Jan. 06: Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin… https://t.co/U4tQ2GNXwd via @Cointelegraph
— Brian Williamson (@BrianTigerEye) 8 de enero de 2018