Litecoin Price The Gains and Losses

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Litecoin is one of the oldest cryptocurrencies out there. It was created in 2011 and historical data is available since 2013. Within 5 years of data we will be looking at the average of historical increase/decrease and time frame.

Litecoin price needs No Introduction, those of you who are not familiar with litecoin it is the faster and cheaper version of Bitcoin. Think of litecoin as silver which compliment bitcoin as gold. Well, this is how the creator of litecoin Charlie Lee, pictures his cryptocurrency. Going all the way back to August 2013 when the price of the litecoin was around $2.

Litecoin priceHard to imagine litecoin these cheap just four months later in November 2013 litecoin price skyrocketed to $50 per coin. That is a stunning 2400% increase. Similarly, just like bitcoin and ripple, litecoin price plunged even lower from where It started. That was the longest bear market for litecoin price, nearly one year and a half or 18 months. It dropped all the way to 1.4 dollars in May 2015, with a 97% decrease.

I think Charlie at this point was considering going back to work for Google. After that long bear market litecoin price had few minor jumps, nothing too crazy.

May 2015 litecoin price increased from $1.4 to almost $8 in July 2015.

With three months of rally and approximately 470% increase, after hitting another beer market or correction. Litecoin price dropped from $8 to $3 in April 2016. That’s another painful 8 months of bloody bath in litecoin price bear market. Overall this drop wasn’t as bad as previous one with only a 62% decrease. Followed by another small pump litecoin price jumps from $3 in April 2016 to $6 in June 2016. A month of pump and 100% increase. Shortly after that it went back to $3 and fluctuate around that price until March 2017. Litecoin price looks very tedious and much more boring crypto with the longest bear market. Compared to bitcoin and ripple, litecoin price seems less more volatile. But sometimes after boring time frame you can be surprised with astonishing growth.

Litecoin priceMost of you remember in March 2017 litecoin price was around $4 and skyrocketed to the new all-time high $370 per coin in December 2017. That’s an insane 9150% increase, jumping even higher than ripple percentage wise.

Joy, happiness and dreams for 8 months for litecoin price

December 2017 litecoin was falling and according to charts in bear market, finding its bottom yard. Decreasing from $370 to the current litecoin of around $56, around 85% decrease and another 8 months of bear market. So now what? Now the fun part begins. We will be going over some numbers, looking at historical increases. From 2400%, 470%, 100% and the biggest 9150%. Probably you’re going to ask: what about 9150% isn’t that an outlier? Well that’s a fairly good point. Normally what you want to see is distributed data, but this sample test is to small. No matter how you look at it we are not going to get normal distribution anyway. Maybe we do not need to because this market is so volatile, numbers jump all over the place. However, lets have look at the two cases and trading on confident interval.

Litecoin price, average historical increase

For this exercise we declare 9150% an outlier. Eliminating it from the test and replacing it with the average last three numbers.

Formulating the equation: 2400% + 470% + 100% = almost 1000%. Therefore, the average historical increase = 2400%+470%+100%+1000% / 4 = almost 1000%

For this second exercise we will keep 9150%% and find the average historical increase.The equation as follows: 2400% + 470% + 100% + 9150% / 4 = almost 3000%

Therefore, according to this analysis, litecoin price average increase between 1000% and 3000%. Assuming the current litecoin price is around $56 and by applying the average historical entries. We can conclude that the future litecoin price is going to stand in between $660 and $1,736. what debit this is hell of a lot more than I expected before making this video now the question

Litecoin priceThe time needed to wait

First and foremost, we need to find the time litecoin price staid in the bear market.Formula as follow 18 months + 8 months + 10 months + 8 months / 4 = 11 months. The average time litecoin price spent in bear markets is 11 months. How much time on average, we have to wait for litecoin price to stand between $616 and $1,736?

Well, first let’s find and average time litecoin price, spent in the bull market.4 months + 3 months + 1 months + 8 months / 4 = 4 months

This is the average time litecoin prices stayed in bull market. Notice this is almost 3 times shorter time-frame that was spent in the bear market. Doing first grade math:1 apple + 1 apple = 2 apples. Or in another language: the average time spend in the bear market to the one in the bull market, finding the answer we are looking for.

Litecoin price will be 11 months in the bear market, so far we witnessed 8 months therefor:11 – 8 = 3 months. Meaning we’re still expecting another 3 months of litecoin price in the bear market.

Now, taking those three months and add to an average time we spent in the bull market which is 4 months. The equations is: 3 + 4 = 7 months.According to this analysis litecoin price is expected to wait 7 months to go between $616 and $1,736.

How good this analysis proves to be?

Litecoin priceWell, unfortunately this analysis is two months and half. The person who devised it is not a financial advisor but tried to find a reasoning to litecoin price action. However, we are still 5 months away and this analysis may prove to be accurate. From technical perspective and percentage wise litecoin suffered along all other major cryptocurrencies. Going only 7 days back in time and comparing to Ethereum, litecoin prices suffered -8,80%. Ripple went down 18,42% and Ethereum 12,33%. Moreover, the bull run should be on schedule starting from this December.

Like always We wish you Happy Trading and Every Success!

 

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