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Litecoin sinks at the lowest price in 7 months

The price of Litecoin (LTC) reached the minimum of seven months on Friday while the cryptocurrency markets transformed risk-averse risk.

The sixth largest cryptocurrency in the world by market capitalization fell to $ 84.39 at 14:00 UTC – the lowest level since November 29, according to CoinDesk's Litecoin Price Index – and the last time it was $ 84.99, down more than 12% on the day.

Litecoin price index

At the time of the press, LTC is the third largest loser in the top 10 cryptocurrencies by market capitalization and reports a 13.26% decline week over week, according to CoinMarketCap.

Furthermore, its market capitalization stands at $ 4.88 billion, the lowest level since December 1st.

Other important cryptocurrencies also flash in red. Names like ethereum (ETH), cardan (ADA), bitcoin cash (BCH) have devalued at least 10 percent each. Meanwhile, EOS has declined by 15.7% and is the biggest loser in the top 10 cryptocurrencies by market capitalization.

Bitcoin (BTC), the largest cryptocurrency in the world by market capitalization, fell to a minimum of 100 days below $ 6.100 and probably dragged other markets down with it. At the time of printing, BTC traded at $ 6,131.74, down 8.7% from the start of Friday's trading session.

Probably the risk aversion will get worse as the technical rankings show that the bitcoin could find an acceptance below $ 6,000 (February low) and extend losses to $ 5,000 in the short term.

Image of Litecoin via Shutterstock

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