Litecoin and its holders have a love-hate relationship. Over the course of the year, the coin had very little growth but showed immense promise with its marketing strategies and various sponsorship deals. But the current Bitcoin bull rush has proved that the coin is nothing but a peg next to the #1 crypto.
However, a new development in their partnership and sponsorship strategy landed the ma contract with Travala.com, which will increase their presence in the hosting industry. Pair that to the relatively stable position of the coin it is currently enjoying and we get a fairy tale. Hopefully, the writer will turn out to be a discount, George R.R. Martin.
Within the last month, Litecoin has gained more than 30% of the starting value it had before the bitcoin rush. The highest it was able to achieve was somewhere around the $94 mark, but it quickly fell back and is not floating between $90 and $91 positions. What’s most interesting is that the peaks were all recorded in the last week, which was most beneficial for bitcoin as it finally surpassed the $8,000 position, dragging altcoins such as LTC, ETH, and XRP alongside it.
Binance is still being silent with its operations, therefore no major advances in either coin are to be expected. However, once the exchange opens (which may be pushed until next Monday), it is realistic to believe that another small bull rush will be formed.
It’s safe to say, however, that Litecoin will not be able to reach its all-time high anytime soon. Considering the fact that it is going to struggle most on the $100 mark, is already testimony enough that $375 is far away from reality. At least by the end of 2019. However, 2020 looks a lot more promising as the project does not sleep and keeps on adding new companies to its collection of partners.
Should a nice addition to that collection be made, such as institutional partners, LTC reaching $200 by the end of 2019 is a fair argument.
Overall, the coin has very few reasons to stop its advancement now. Therefore it may be the best time to enter the position.