One of the oldest Cryptocurrency has been enjoying a good bull run this year. Litecoin touched a new milestone of $100. Though at the time of writing the article there has been a small pull-back, this is no small feat. Coming into this year, Litecoin was priced at $4. It has gone from $4 to $100 in 11 months, a 2500% change! Here’s what the graph looks like. That flat like you see is how Litecoin was trading for the last few years!
Litecoin saw a surge to nearly $98 in September this year and a steep fall to $40 after that. At that time, there was no news surrounding Litecoin and the price immediately dropped. This time around, Litecoin is looking really strong.
The development team has been more committed than ever. While the Bitcoin community has been distracted with forks and slow developments, Litecoin has made multiple successful updates this year. They’ve increased the block size.
The biggest news for Litecoin this year came from Lightning Labs. The first Atomic swap between Litecoin and Bitcoin was performed. Until now, atomic swap was just a concept other coins want to implement. But Litecoin has shown the world that it is no longer a concept. The market has been bullish ever since this news was announced.
Litecoin last week broke out of its upward trajectory and reached $100 faster than expected. Expect some pull-back in the short term. But on the long-term, Litecoin still looks like a solid option.
$100 is a strong resistance which is tailed to cross on two different occasions. If you’re looking to get into Litecoin, set buy orders above $100 so that you can catch the next bull run.