Today, I thought to share some of my thoughts and research on one of the cryptocurrency called "Litecoin" which is abbreviated as LTC. Litecoin is currently ranked as No.5 cryptocurrency on Coinmarketcap.
How Litecoin got my attention?
For the last few days, I was analyzing past data related to crypto currencies. While scrolling here and there, I came across Litecoin. I heard about it before in different posts related to cryptocurrency on Steemit. I heard about the rise in price of litecoin but didn't witness it. So I wanted to check it by myself.
The website that I use for getting the current prices of different crypto currencies is Coinmarketcap. Its a very useful website for people who want to know up to date prices of different crypto currencies.
It has a very useful feature called the historical data which gives day by day prices of all the crypto currencies, from its initial days til present(now).
Now back to Litecoin. So I searched the price of litecoin for the start of last year i.e, 2017. After every month, its price was taking off too quickly like a F-16 plane. I am going to share with you guys how with every month its price was rising on a rapid pace.
At the start of January of last year the price of Litecoin was approximately at 4 US-$ as you can see in the picture below.
As you can see in above picture, Litecoin reached a high of 4.95$ on January 5.
But on February 10, LTC price dropped to 3.8$ and stayed at this range till the end of february.
Now when I hopped to the month of March, I was surprised and amazed as well. On March 29, litecoin price was at 4.14$ but on March 31, the price of litecoin skyrocket to 7.02$. Its a 69.56% increase in just 48 hours. Here is a picture of this big jump.
With every month, Litecoin price increased rapidly. At the end of April, its price almost more than doubled to what it was at the start of April.
Lets jump to August of last year(2017). On August 31, Litecoin price took another big leap to a high of 72.28$.
On September 2, LTC hit another high of 92.07$.
But the month of September was not as promising as August and with every passing day the price of LTC started to drop til the end of September. And on September 30, its price dropped to 55.14$.
The last month of the year 2017 was by far the best days of Litecoin in its entire history. It reached its peak value of 375.29$ on December 19.
And I know how happy Litecoin holders were at that day. There may be people who bought a single litecoin at the start of January 2017 and held onto it til December 19. There 4$ had become 375.29$, which is a 9282.25% increase in its value. Consider those who bought hundreds of litecoins at 4$ and held onto it til December 19. They might not have words to express or describe their happiness.
But LTC did not stay at 375-350$ mark for long. It dropped to 232$ on December 31.
The drop down in price of Litecoin continued throughout January of 2018. At the end of January, its price closed at 163.35$.
Recently after the second week of February 2018, litecoin price is rising again. Litecoin have reached the 215-230$ mark on recent February 18.
Now, the big questions are :
Will history repeat itself in case of Litecoin?
Will LTC have another rapid increase in its price with every month of 2018?
Will the people who bought Litecoin have profit once again?
As we all know, time will answer all these questions.
These were my thoughts related to 2017 journey of litecoin.
Feel free to share your thoughts and experience about Litecoin. How you see its future in the crypto market. Give your feed backs.