A common question that comes up since Litecoin saw its all time high of more than $420 per coin USD depending on what exchange you use, is should you hold on to Litecoin, or accept your losses? The answer really depends on your given situation, but generally most people will recommend that you should not take your “paper” losses and convert them to real ones based on the project growth in the Crypto currency market in 2018.
Why Did Litecoin’s Price Drop So Much?
It depends on who you talk to. After hitting an all time high (or ATH) of more than $420 USD, the coin dropped into the mid-200’s where it has mostly stayed after dipping to the low 200’s after a big dip in Bitcoin price. The founder of Litecoin did sell all of his coins (Charlie Lee) to remove himself from potential conflict of interest; however, many speculators/investors took this to mean that the coin was dropping in value. Since then, it has stabilized in price in the mid 200’s.
What are Litecoin’s Long-Term Prospects?
Similar to many of the established cryptocurrencies, most forecasters believe that Litecoin will sustain and increase in value over the year. If you are able to hodl (note this is not a miss-spelling, check out our article here), then you will likely see your coins return to or exceed their value. Please note that this is not professional investment advice, the crypto currency market is high-risk, and you should only invest what you can afford to lose.
What if I Want to Buy Some Litecoin?
If you find that you are in the market to start buying Litecoin, bitcoin, and more, then the easiest way to get started with is to signup for a free account at Coinbase here. If you buy or sell $100 or more of digital currency then you will get $10 free of bitcoin (and we will too!) until the company discontinues their offer. Enjoy!