Litecoin is termed to be the silver of the crypto market, and Bitcoin is termed as Gold. I have known Litecoin since 2011, 2012 when its price was around 2$ to 4$ and I knew bitcoin since 2011 too. I didn't regret investing because the later I get into the crypto, the more I will struggle and equip myself with the knowledge to be a successful holder or trader in the crypto world.
Litecoin is trading around 40$ to 42$ with the market adopting the bullish trend as of writing this article. The total market cap is around 200 Billion USD and 24 Traded volume is 136 Billion USD which is tremendous this year. It is also a sign of long term bullish trend. However, the volume has greater impacts on the moves of the market. Litecoin total Cap is around 2 billion USD but its 24-hour volume is above 3 Billion USD which indicates peoples are trading LTC more than its capital in 24 hours. The community of Litecoin is HUGE thus it has the potential gain of 1000% or more in this year alone if the market rose after the halving of the bitcoin blockchain and Ethereum 2.0 release in June 2020 by the DEV community of Ethereum Network.
The All-time high of the Litecoin was around 375$ back in Dec 2017. And if the market responded accordingly it can surpass 1000$ a coin this year alone. If the price of Bitcoin reaches more then 50k or 60K which is predicted by many crypto traders. However, there is always the potential of bearish trend of the market.
As far as the technical analysis is concerned crypto market has not broken the Resistance Tend line so far but the volume of all major cryptos has increased tremendously which indicates it will break the resistance and forms support line above the resistance very soon beating the all-time high this year or the next one. However, investing in crypto for long term profits involves risk factors too. So I will highly recommend not investing which you can't afford to loose. However, after investing you will be like acquiring shares of the crypto stock market of the particular blockchain.
I wish everybody here a successful journey and best regards, thanks for reading my article. Thanks.
