LTC Price Prediction: Litecoin price soon to hit the $300 mark

Wednesday 03 March 2021, 7:20 AM AEST - 1 month ago

LTC price predictionLTC Price Prediction: Litecoin price soon to hit the $300 mark 19

TL;DR Breakdown

  • LTC price predictions indicate Litecoin could double in price as it is widely undervalued.
  • Whales holding more than 100,000 LTCs have surged by 5 percent, confirming the current demand for the crypto asset.
  • Grayscale has stockpiled more than 150,000 Litecoins in the last 21 days.

The 20th of February witnessed LTC prices taking a dip by about 40 percent during the Bitcoin slump. Today, new movements around the number three cryptocurrency insinuate LTC could turn bullish soon.

LTC Price Prediction: Grayscale suggest the bulls are about to correct Litecoins misfortunes

For the past few weeks, Grayscale has been dynamic whenever LTCs valuation takes a dip. This has led the cryptocurrencys management to acquire more than 150,000 Litecoin, representing a 10 percent increase in its stake within such a short time.

Despite the considerable increase in buying pressure, LTC prices have refused to trickle down this progress by moving by a mere 30 percent. Usually, cryptocurrencies experience a price upsurge whenever Grayscale holdings begins to surge. For instance, XLM prices experienced a 105 percent price increase after the crypto company added more than 25 million Stellar coins to its holding.

However, Litecoin seems to be going against the usual Grayscale culture. The crypto asset dropped in value by over 28 percent since 20th February, when the crypto company bought over 40,000 Litecoin. This unusual Grayscale effect is rare among technical indicators, signaling Litecoins market valuation is aligned for a significant breakout.

At present, the GLTC, which is also known as Grayscale

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