Why buy Litecoin (LTC) in July?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Jul 15, 2021
  • Litecoin is one of the most widely used altcoins on the market.
  • Ever since its creation in 2011, it has gone up in value consistently.
  • It is widely available and has its own Visa card, which increases its real-world usage.

Litecoin LTC/USD is an altcoin built to be four times faster than Bitcoin, and as such, has been implemented in a lot more ways. 

Litecoin Progress

Litecoin has its own Visa cards that allow you to convert Litecoin into dollars in minutes.On July 7, Visa revealed that over $1 billion in cryptocurrency was spent using their cards in the first half of 2021. 

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On July 12, The General Services Administration sold 150 Litecoin alongside 25 Bitcoin which had a total estimated value of above $1 million. This showcases increased usage of the Litecoin blockchain and that the demand for these cryptocurrency tokens is high.

Furthermore, on that same date, Grayscale announced that it has filed additional trusts to become reporting companies. This will surely bring a lot of interest to the Litecoin blockchain and increase the demand of LTC tokens that can go higher in value as a result.

Should you buy Litecoin (LTC)?

On July 15, Litecoin had a price of $124.

Litecoin’s all-time high was $413. This gives us a perspective about how high the token has the potential to rise.

To get a perspective about its previous growth, let’s analyze June. Litecoin (LTC) saw one of its highest points on June 3, with a value of $189. Litecoin (LTC) saw one of its lowest points on June 22, with a value of $113.

Here, we can see a difference of 40% in value. This means that if you can get Litecoin at its price of $124, and it gets up to $189, you are looking at an increase of 52%. But, if Litecoin gets back up to its all-time high yet again, you could be looking at an increase of 233%.

Given the fact that Visa showcased that billions of dollars in cryptocurrency form were spent cryptocurrencies and that Litecoin has a huge circulating supply of 66 million LTC, the potential is definitely here for it to rise back up in value again.

Litecoin’s collaboration with Landon Cassil, who is a NASCAR driver and Litecoin supporter, showcases that Litecoin is making the push for mainstream appeal. 

These two examples put things into perspective as we can clearly witness a push to make Litecoin a mainstream currency that can be used in many real-world cases.

With this momentum in place, Litecoin has the potential to jump 20% in value by the end of July, and this is why buying Litecoin might be a worthwhile investment.

Where to buy right now

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