Litecoin (LTC) continues to precipitate – can it survive this downward spiral?


The month of July of Litecoin was the month of July of many other altcoins on the market. The value of BTC peaked at 0.01344650 BTC around July 3 rd and has since entered into a sideline for about half a month before declining slightly to the monthly minimum of 0.000995559 BTC. The USD peaked a little later, on July 18 th when the currency price reached $ 93.51 USD. These levels were not maintained for long as the value ran out towards the end of the month and reached $ 77.25 USD. The month of August began with a slight recovery, as the currency reached its maximum BTC value on 6 th with the price of 0.01074590 BTC. The value in USD has risen around the $ 75 USD sign, for the most part.

Currently, an LTC can be purchased for $ 61.30 USD, down 6.06% in the last 24 hours. At the same time it is possible to buy it for 0.00984076 BTC, a decrease of 2.16% compared to yesterday's levels. Litecoin's daily trading volume is among the most impressive on the market as 38,083 BTCs have managed to exchange their portfolios within the last 24 hours. Most of these exchanges (over 50%) are carried out on several less well-known exchanges, including CoinBene (20.55%) OKEx, DOBI trade, RightBTC, BCEX and Coinsuper. Looking at the market capitalization of the currency we will see the value of $ 3.541339,439 USD, which makes Litecoin the 7 most precious cryptocurrency in the world.

Read our direct comparison of cryptographic exchanges: Binance vs. Kucoin

Today's Litecoin analysis was provided by jbutler7 from TradingView:

"I was playing with the instrument Fib Time here, and between 8 and 13 fits perfectly with a long selloff we've been in. We're starting to get past 13 so we can expect to see something here early? This is not the only tool you need to take a buy / sell decision, so I will add that we can see some bullish divergences on the MACD and a potential double / triple fund.The biggest enemy of Litecoin at this time are the moving averages, and should be looked out, especially the EMAs (20 , 50) of the shortest period "

The developers of the project seem to be currently involved in the attempt to release an update to the current Litecoin Core software. In this spirit, they recently released Litecoin Core v0.16.2 Release Candidate, a "minor version" that will still include new features, bug fixes and performance improvements, based on the official project blog post. For now, the product is being tested (although probably full of bugs) so it is recommended that only experienced users update their software to this version. After a sufficient number of tests, Litecoin Core v0.16.2 final will be released for the general public and all users will be advised to update.

Wonder what is the best portfolio for LTC? Click here to find out.

In other news, Instacoin's ATMs have now added Litecoin support and from now on LTC holders will be able to sell their coins on these machines. Litecoin has also been added to the MCO portfolio, the coin storage app of the company (formerly known as Monaco). Charlie Lee praised this move:

"Litecoin Foundation and share a common vision to accelerate the development and adoption of cryptocurrency while Litecoin is moving towards a widespread acceptance as a currency for a growing number of traders, I am excited to see added Litecoin support to the MCO Wallet app and the MCO Visa Card. We look forward to continuing the mission to expand the use of cryptocurrency together with Crypto .com helping more users to buy and spend Litecoin in their daily lives. "

Speaking of Lee, she was booked to talk about CoinsBank's" Blockchain Cruise Mediterranean ", an annual event to be held for the third time from 7 September th -11 th of 2018. This cruise promises to host a lot of interesting people from the world of cryptocurrency, including probably the most popular man in crypto ( Satosh bar i), John McAfee. Other notable guests of this event will include Brock Pierce (venture capitalism and EOS), Jimmy Song (joint venture partner of Blockchain Capital LLC) and Roger Ver (the managing director of and creator of Bitcoin Cash).

enough, one of the guest speakers should be Tone Vays, a candid blockchain analyst, consultant and researcher who recently publicly called Litecoin as a straight scam. While he was probably exaggerating with Litecoin collaborating with two other projects that are probably scams, it is hoped that the event organizers have reflected on this and have booked Lee and Vays on separate days.

Lee will participate later in the global summit of Litecoin at the South San Francisco Conference Center from 14 th -15 th September. Apparently, in August, Litecoin will not be a month full of events. LTC users and enthusiasts will not be able to attend the aforementioned events in September, hoping to see Charlie Lee discover more details about the future of his project.

LTC may continue to sink as investors move towards more realistic projects in their goals. Successful projects are not the ones that plan to replace the dollar: they are trying to solve otherwise unsolvable problems without blockchain and cryptocurrency. So this downward spiral could be a deadly spiral for LTC – the founder has no more skin in the game and has already started to push other projects, at least with a declarative support through his Twitter.

The writers and authors of CapitanAltcoin may or may not have acquired an interest in any of the projects and companies mentioned. None of the contents on CaptainAltcoin is an investment advice nor a substitute for advice from a certified financial planner.

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