Created by Charlie Lee, Litecoin has gone on to become one of the most popular altcoins on the market today.
Litecoin prides itself on being quicker and cheaper to use than Bitcoin, making it perfect for everyday payments. The Litecoin price history is attached to Bitcoin’s. When you see Bitcoin going through a big pump, the likelihood is that Litecoin is going to follow. In a bear market, you can expect Litecoin to plummet once more to the depths below.
Litecoin currently sits in 6th place of the cryptocurrency rankings at a price of just over $70 and a marketcap of over $4 billion. Where did it all begin?
The early days of the Litecoin price history
Litecoin went live in April 2013 and was a fork of the Bitcoin client. This fork offered different parameters. On release, Litecoin was valued at $4.30 or 0.031 BTC. The price dipped to around $1.50 until the first bull run kicked off, with Bitcoin leading the charge.
Litecoin followed closely on Bitcoin’s tail as money began to flood into crypto and altcoins for the first time. The cryptocurrency managed to reach heights of around $44 just before the beginning of 2014 and then came crashing back down.
The cryptocurrency tumbled steadily downwards. Firstly, into the $20 range and slowly but surely back into single dollar value throughout the remainder of 2014.
From the middle of 2014 to the start of 2017, Litecoin remained relatively stable as interest in cryptocurrencies waned. The original bubble of 2013/14 subsided so Litecoin was not alone in seeing this pattern.
After reaching a bottom of $1.28, the coin remained floating between this before slowly creeping up to around $4. This lasted for two years despite developments being made on the platform and gaining the moniker of being the “silver” to Bitcoin’s “gold”.
The bull run of 2017
If you entered the cryptocurrency market in December 2016 you could have blindly thrown a dart at any cryptocurrency and most likely have made a profit. The rise…