Investing.com reportedly stated that Litecoin has been trading at $246.347 by 23:55 (18:25 GMT) on the Investing.com Index on Saturday, up 10.09% on the day. They state that it was the largest one-day percentage gain since Saturday, April 10, 2021.
This looks like a rally supported by both retail and institutional investors, which is a sign of movement towards mass adoption.
However, it has been reported that at $246.347, Litecoin was still down 41.35% from its all-time high of $420.00 set on Tuesday, December 12, 2017.
This recent price hike had several investors awake at 4am watching Litecoin (LTC). This rally was particularly interesting to those who were adding to their bags. Some of them believe that this is the beginning of a journey to a new all-time high.
Some of them stated that they have been watching trying to find a good entry for a quick long, but that it keeps leaving their buy orders behind.
While all these are happening, there was someone who stated, divide $280 price of Litecoin into 10 years and it averages out into $28 dollars a year. Coins that have been in the market for 3 years have performed better and people have gotten big returns. Yes I’m watching Litecoin about to lose its top 10 position to a meme coin named Doge.
Further stated, Sad, but I rather watch paint dry, Litecoin – I am Glad I dumped my Litecoin when I saw every coin in the market pump and Litecoin barely even moved by a few dollars. Litecoin is a Relic. 10 years Litecoin has been around and Dogecoin is taking its spot.
Someone who was thinking in terms of the technical parameters stated, Equivalent to LTC at somewhere between $50-100 in the last bull market, meaning at least another 300-700% to go, if the fractal holds. We will probably see 4 digit LTC soon.
Further stated, wrong comparison. $40 was the last ATH before LTC went on to $380. Since, we came down from $380 and haven’t broken it yet, current levels are more like LTC at $29 in 2017. If the fractal repeats, that means another 1000% or more of appreciation, meaning $3000-$4000 LTC.
Those who were not ready to get in to all the convincing about LTC being a good one for investment stated, seriously, LTC is the only coin which didn’t break ATH even $$ while ETH, DOGE, DCR OG coins did. Ended up saying it was the worst investment in last 3 years. We need to see if LTC will rewrite the attitudes with real time progress happening.
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