Buyers who purchased shares in the course of the COVID-19 market crash in 2020 have typically skilled some massive positive factors within the final two years. However there isn’t a query some investments carried out higher than others because the pandemic backside.
Litecoin‘s Massive Run: As robust because the inventory market has been because it bottomed on March 23, 2020, Litecoin LTC/USD has been a lot stronger.
Litecoin costs began not off course in 2020 because of huge authorities stimulus spending to assist the financial system in the course of the COVID-19 pandemic. For the reason that pandemic started, the federal government has spent greater than $6 trillion, and traders involved in regards to the potential for hyperinflation have poured into cryptocurrencies as potential hedges.
As well as, cryptocurrency investing grew to become extraordinarily fashionable in 2021, and Litecoin was some of the common cryptos out there.
Originally of 2020, Litecoin was buying and selling at simply $41.33. When March kicked off, the cryptocurrency had risen to $58.53 as information of the virus spreading in China prompted considerations a couple of U.S. pandemic.
On March 13, 2020, Litecoin plummeted to its pandemic low of $25.57 as international inventory markets tanked. The excellent news for Litecoin traders: the crypto bounced off that degree because the inventory market started to stabilize shortly thereafter and the federal government began printing cash.
By Nov. 1, 2020, Litecoin was again as much as $55.59.
Litecoin In 2022, Past: On Jan. 19, 2021, influential Tesla Inc TSLA CEO Elon Musk added #Bitcoin to his Twitter bio and tweeted “Looking back, it was inevitable.” Musk’s tweet despatched all the cryptocurrency market hovering, together with Litecoin.
Litecoin finally hit a brand new all-time excessive of $413.63 in Might 2021, however has since pulled again considerably. At present, Litecoin is buying and selling again down at $52.04.
Nonetheless, traders who purchased Litecoin on the day it hit its pandemic low and held on have generated a pleasant return on their funding. The truth is, $1,000 in Litecoin bought on March 13, 2020 could be value about $1,551 in the present day.
Given the rise in Litecoin costs up to now two years coupled with the lack of stimulus cost assist in 2022, some traders are understandably involved about simply how a lot additional Litecoin costs might fall. Litecoin and different cryptos are vulnerable to boom-to-bust drawdowns, and Litecoin costs are already down 65% within the final six months.