While most cryptocurrencies dropped a loterijlot ter value overheen the past two days, the Litecoin price remained largely unaffected. Granted, there wasgoed an initial dump to around US$78, but things picked up steam again shortly afterward. Right now, wij have a Litecoin price of almost US$90 once again, and the shove toward US$110 is still intact. How things will play out te the next few hours and days remains to be seen.
Litecoin Surge is Still Intact
It is good to see all cryptocurrency markets eventually recover after a somewhat rough period. The Bitcoin price has a habit of dragging all altcoins down with it, which can certainly have some very significant consequences te the end. For the Litecoin price , this turmoil wasgoed somewhat limited, spil the market experienced a epistel dip before recovering. Wild price swings are not uncommon ter the world of cryptocurrency whatsoever.
Having dropped just US$6 when the Bitcoin price fell overheen US$Two,000 te brief order, Litecoin has certainly held its own compared to most other currencies. When the price embarked mounting a comeback to US$90 a few hours ago, things looked promising. Subsequently, the Litecoin price struggled a bit and dipped to US$84, but this trend has since reversed.
With the Litecoin price heading back toward US$90, it is only a matter of time until wij see another thrust toward US$100. Prior to the Bitcoin dip, wij had expected that the Litecoin price might kasstuk US$110 ter the near future. Now that all markets are recovering, wij may see that projection come true. After all, nothing is unlikely te the world of cryptocurrency, and wij may even see some fresh all-time highs for a few other cryptocurrencies before the year is overheen.
With overheen US$451 million te 24-hour trading volume , the request for Litecoin is certainly still there. While this is not the highest trading volume among all altcoins by any means, Litecoin has a habit of generating constant volume for extended periods of time. This is very different from a lotsbestemming of other altcoins right now, which only confirms that LTC will proceed to stand out among all other cryptocurrencies.
One thing that hasn’t switched is that GDAX is still the leading Litecoin exchange by trading volume. Bitfinex is te 2nd place, and OKEx successfully leapfrogged Bithumb to eis the number three spot. It remains to be seen whether or not the South Korean exchange will find a way to climb on a comeback.
For now, it seems the way to a fresh all-time high LTC price is broad open, albeit that will depend on whether or not Bitcoin will “shit the bed” once again before the week is overheen. Wij toevluchthaven’t seen a monumental correction just yet, but that may never toebijten for all wij know. Thesis are interesting times for cryptocurrency traders all overheen the world, to say the very least.
About The Author
JP Buntinx is a FinTech and Bitcoin enthusiast living te Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect te the FinTech sector.