Bitcoin’s recent market surge and the subsequent selling from a number of major parties has resulted in lost attention for Litecoin. The latter token, which acts as a supporting token for BTC, rose through the ranks over the past week and appears primed for another major threshold before years end. Litecoin hit an all-time high on December 9th, peaking at just over $165.
A suspected downturn has seen the current price dip under the $160 mark, but optimistic viewpoints remain the norm. Litecoin has long stood as a complementary piece to Bitcoin. Whether it first hosted certain test aspects or reigned in other areas, LTC often stands as a piece to watch for Bitcoin’s own future moving forward.
Bitcoin’s market dominance surged with the token’s value increase. Now resting above the 60% mark, alternate coins are receiving heavy investment or are being abandoned in favor of the more notable names. Litecoin may stand well below the leading market cap, but continued growth grants faith moving forward. The LTC market cap is holding steadily above $8,000,000,000 with the $9B and $10B marks appearing more feasible into 2018.
It was prudent to sell any owned tokens following a near 40% daily increase last week, but it is once again time to buy as investors target the $200 valuation for Litecoin. Improving with over 50% increase to the token’s worth during the past week, more than 167% since last month, and 4000% across twelve months, short-term expectations are becoming increasingly likely. Rather than the pipedreams that encompassed much of cryptocurrency at the beginning of the year, these new monumental thresholds are nothing more than a matter of time away.