Along the trend of seeking speculation to see how another market surge will affect some cryptocurrencies, we turn to Litecoin to see how, given its current standing, it can rise up off the back of another bull run or another market surge.
As we have said again and again, there is no guarantee that a bull run is going to take off, however signs are starting to indicate that we are due to see some large institutional investments that in turn are going to encourage market values to rise up. If these rises gain momentum, the markets will surge, and we will see values gain by huge percentages.
If we track back to the most recent bull run in the middle of April, we saw Litecoin rise up by around 60%. Let’s consider that the surge in April was only quite limited and that, a bull run inspired by large institutional investment would certainly exceed what we saw in April. However, as the April surge was organic, we can use it as a bench mark to consider what a rise of a similar nature could do to some currencies, currencies like Litecoin that really do have the capacity to achieve great things once the markets straighten out.
During the mid-April market surge, over a month, Litecoin managed to rise from $133.71, up to $181.57. This is a jump of around 60%, it’s not huge but overall, if you can get a 60% rise on your investment, you’re not going to be too disheartened are you.
With this in mind, how would a similar surge affect Litecoin now? Well, at the time of writing, Litecoin is valued at $122.03. Therefore, a surge of around 60% would see Litecoin hit $200.00. As a matter of fact, in order to hit $200.00 on the nose, today, Litecoin would need to see a rise of just under 64%. Of course, this won’t happen in a day but this at the very least provides a clear outline as to what Litecoin needs to do, to reach $200.00
As I have said, the next surge could be far greater and thus could see gains of 100% plus, ravage through Litecoin, if this does happen, we could see Litecoin hit values of $250.00 plus.
As stated, this is speculation and thus these figures are just for reference. We can’t know when Litecoin will see $200.00 again, although we are pretty confident that eventually, it will. It should just be a matter of waiting to see what happens, but, remember, even with this confidence, the markets remain volatile and cryptocurrency investment is incredibly risky. Trade safely.