The price of Litecoin has risen dramatically in recent weeks. However, at the beginning of February, we saw a slight sideways movement. With the recent gains, investors are hoping for good momentum and further gains in February. What is the expected price of Litecoin at the end of February 2023? Can the LTC price rise sharply again? Let’s take a look at it in more detail.
How has the price of Litecoin changed in recent weeks?
Can the LTC rise sharply again: LTC/USD Weekly chart showing the price – GoCharting
In recent weeks, the price of Litecoin has risen once more. The price of LTC increased from 69 USD at the start of the year to more than 100 dollars by the end of January. The rise has returned to normal in recent days. So far this year, the price has risen by more than 40% since the beginning of the year.
Litecoin’s rise was comparable to that of Bitcoin or Ethereum. This is a continuation of Litecoin’s recent upward trend. Following the FTX crash, the Litecoin price was able to rise more rapidly. In general, Bitcoin’s “little brother” has been on the rise in the medium term since the beginning of the fourth quarter of 2022.
Why is Litecoin so popular right now?
The Litecoin price and the possible positive Litecoin forecast are manifestations of the fact that an unusually large number of investors are currently interested in Litecoin. Litecoin has long been regarded as one of the most popular altcoins. However, in recent years, the LTC has briefly dropped out of the top 20 cryptocurrencies.
The FTX crash has increased market uncertainty. Because of the uncertainty, investors are flocking to cryptocurrencies, which are more established and offer greater stability. Along with Bitcoin, this is Altcoin, which was introduced in 2011. Litecoin is a good alternative to Bitcoin as a “stable” Altcoin.
What is the Litecoin price prediction for the end of February?
The price of Litecoin has risen dramatically in recent weeks, and LTC is now back among the top 15 most valuable cryptocurrencies. Because of these factors, the Litecoin forecast is positive in the coming weeks. If the overall market continues to rise in the coming weeks, the Litecoin price will almost certainly rise.
However, cryptocurrency prices have been declining in the last 1 to 2 days. After several attempts to break out to the upside, there is mounting evidence that the market’s momentum may have peaked. In this case, there is a chance that the Litecoin price will fall in the coming weeks.
Can the LTC price rise sharply again?
At the moment, it is difficult to predict which way the market will move in the next two to three weeks. Can the LTC price rise sharply again? We believe that the market will show a slight recovery with price drops. This would have an impact on bitcoin, which could fall back to $20,000. This would also imply that the Litecoin price would fall even further.
If the Bitcoin price falls below $20,000, the Litecoin price will almost certainly fall below $90 once more. However, losses may be reduced in the coming weeks. As a result, we expect Litecoin to be worth between 82 and 92 US dollars by the end of February.
Is it worth investing in Litecoin now?
Litecoin is an intriguing Bitcoin alternative. Litecoin provides some stability due to its proof-of-work and other similarities to the main cryptocurrency. It is heavily influenced by the Bitcoin price, but it can sometimes rise much faster than BTC.
The LTC is a good alternative, especially during market volatility. Despite our short-term Litecoin forecast, the price should rise again, especially over the year. The long-term investment could be considered in this manner.
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Source: https://cryptoticker.io/en/can-the-ltc-price-rise-sharply-again/