With a possible bull run on the horizon, we want to explore how some cryptocurrencies will perform if the markets do take an upswing.
Of course, we can’t guarantee how an up swing will take hold and indeed, our estimations could be too high just as they could be too low. However, by using historic trajectories and data, we can look at how cryptocurrencies have performed in similar climates before.
At best, we can use this information to make informed decision.
Historically, Litecoin has been involved in two major surges. Firstly, the cryptocurrency boom at the end of 2017 and again during February. The first surge was a part of an organic leap forward, the second was more localised within the Litecoin camp, but even so, the rate of the surge remained around the same.
At the end of 2017, Litecoin jumped from a value of $98.38, up to $371.47, this was a climb of 277.5% marking a stunning return for investors who bought in prior to this time. The second coming of Litecoin happened with Litecoin valued at $111.17, it then rose to a value of $247.28, reaching a climb of 122%.
This works out at an average climb of 199.5%.
With this in mind, based on the similar climate of today and based on Litecoin’s current value of $87.09, a rise near 199.5% could see Litecoin reach $260.00 in a matter of weeks.
Now of course, we can’t guarantee that even in a surge, Litecoin will rise by 200%. As a matter of fact, it could even surge by more than 200%, such is the beauty of the volatile cryptocurrency markets. Overall though, the signals are looking good. We do know that for such a surge to take off, Bitcoin needs to pave the way. With Bitcoin looking more promising by the hour, the notion of a Litecoin surge is becoming far more realistic by the hour too.
Remember, this is not investment advice, if you choose to invest then do so based on your own research. Inform your own portfolio. By all means, remain bullish and get excited, but remember to trade safe. If you do this, you’ll make the most of the opportunity.