Litecoin Price Doubles During Q1 2019

Litecoin, the 5th largest cryptocurrency by market capitalization, is currently trading at $61, which means that it has reached 100% growth since January, when the price of cryptocurrency was approximately $30. According to the data provided by Bitfinex, the “digital silver” has hit a 6-month high of $64.20.

The price of Litecoin has been downfalling over the whole 2018, reaching an incredible level of decline by 86% from its historical maximum of $360 per coin. In December 2018, the price was set at $23, and since then it has gradually moved upward, as well as its hash rate, as was noted by Gregory ROCCO, head strategist of the crypto economic firm Alpine.

The real flippening is $ETH and $LTC hashrate. pic.twitter.com/qz3zIE3Ipc

— Rocco (@Obstropolos) March 25, 2019

According to him, since December, the Litecoin hash rating has been growing: the power consumption level was 150 trillion hash per second (TH / s) in December. This indicator suggests that since the price started to grow, a considerable number of miners have joined the network. Many investors consider the recovery of Litecoin to be a positive sign for the entire crypto market.

Image courtesy of Fossbytes