It is the question we are all asking and of course, the question we all want an answer too. When will Litecoin hit $200.00? I mean overall, Litecoin did hit $325.15 once upon a time, so I guess that’s the real question, at the moment however, $200.00 should be enough to temporarily pacify investors.
Over the past few days we have seen Litecoin peak at $155.00 and $160.00, so, what is happening now?
At the time of writing, Litecoin is valued at $160.98, up 6.16%. With this in mind, we might suggest that indeed, Litecoin is pacing towards $200.00 with some authority.
When will it happen?
Honestly, we can’t really guess. As much as we like to think it could happen by the end of the month, given the current market conditions, there are so many extraneous variables at play that it would be almost impossible to predict an exact time. Litecoin is a currency with a very strong social media presence, Charlie Lee, the founder of Litecoin is known for enabling echo chambers of rumour and discussion that all in turn affect the price of Litecoin. Therefore, it could simply take one big media headline to turn Litecoin towards $200.00, or alternatively, one big media headline could make Litecoins’ price plunge.
It is by no means the most volatile cryptocurrency, however Litecoin does seem to be subject to community activity, perhaps this is due to its high value, who knows.
If we look at Twitter posts like this one, which Charlie Lee has retweeted, we can see exactly why people are fully engaged in Litecoins social media and online presence. The Litecoin agenda is based upon instant transactions. Initially backed by a system called LitePay that fell through to say the least, so, headlines like this one replicate the sort of news Litecoin fans want to hear. Is it enough to really change the value of Litecoin, who knows, I just think it acts as a strong demonstration with regards to the sort of information Lee likes to retweet. Hey, maybe he will send out a link to this article, fingers crossed…
So, to conclude, we can’t really set a date for Litecoin’s approach to $200.00 but we can conclude that realistically, Litecoin is now in a place to make this happen. Should the markets behave in such a way to allow Litecoin to do so at least.
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