Litecoin on the track to win $ 35, Will This Recent Rally Stick?

Litecoin on the track to win $ 35, Will This Recent Rally Stick?

The cryptocurrency market has returned to the track to close the year at the latest. After two devastating weeks that have seen most of the currencies reach the lows of the new year, the market is finally recovering. Bitcoin, the leader of cryptocurrency, has earned a maximum of $ 4,200 in the last 24 hours. This was extremely impressive given that only four days ago, it was going to $ 3,600.

Bitcoin's younger brother, Litecoin, has also gathered in the last two hours. At the time of printing, the coin is closer to hit $ 35 and is just under $ 0.80. After yesterday's dramatic rally, Litecoin rose 16% and took the $ 35 position but was unable to break it. The bulls will repeat this position again and probably this time it will attack.

LTC / USD price table, Thursday 29 November:

The wave arrives after Arianna Simpson, a venture capitalist of Autonomous Partner, has noticed that he does not believe that there is a reason for Litecoin. According to the leading venture capitalist, he is not particularly optimistic about money and believes the project is an expensive test network. He also added that Litecoin's Treasury balance is a "joke".

Although in recent months the currency has fallen more than 90% from its all-time high in January and for Simpson the future of Litecoin is bearish, the last two days of performance tell a different story. The recent currency rally shows that there are still many believers who continue to aggressively push for the adoption of Litecoin.

With today's extended earnings, Litecoin looks ready to hit $ 35 and this time it will stay on top.

At the beginning of the month, Litecoin was trading well above $ 50, a position where the bulls will try to get up again. Fortunately, it seems that the month on track will end up returning to these highs. In the short term, everything seems positive for Litecoin.

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