Home / Litecoin / Price analysis of Litecoin: the cryptocurrency market begins to recover with Litecoin (LTC) taking the lead in the rally of the bulls

Price analysis of Litecoin: the cryptocurrency market begins to recover with Litecoin (LTC) taking the lead in the rally of the bulls

After many days of trading in red, a little green light is just what the market needed to ease the tension. Last weekend it was not so bad as a small bullish rise has resumed the price of cryptocurrencies. Altcoin traded in green with Litecoin (LTC), earning double digits. Yesterday, Litecoin, an altcoin that fell sharply against the USD was traded 18% as it took the initiative in the recovery of prices that saw the total market capitalization of all cryptocurrencies rise to $ 132 from $ 114.

Price analysis of cryptocurrency for the week

Towards the end of last week, the entire cryptocurrency market was under pressure because Bitcoin fell to $ 3,500 thanks to the bear market. ETH was as low as $ 100. This is the lowest point it has come in over the past eighteen months. The recovery that took place this weekend was able to push ETH to $ 120 while it brought the BTC to $ 4,100. Market experts believe that $ 3500 may have been the fund for BTC. Day traders were able to gain from volatility between Sunday mornings when the price was $ 3500 and later in the day.

According to social media, however, the number of people who cashed last week is higher than any number in the same period of time that has been recorded in the history of cryptocurrencies. The only time this kind of cash inflow happened recently was the beginning of the year when everyone tried to cash in after the cryptocurrencies had reached their historical highs.

Litecoin (LTC) takes the lead

While the price of cryptocurrencies started to rise, Litecoin (LTC) rebounded by 18%. The old Bitcoin fork has gone from a minimum of $ 27.07 to a maximum of $ 31.94. Although this level is still far from its all-time high, it is still a relatively fair recovery if one considers everything that is happening in the market. Almost one third of the trading volume comes from the LTC / USD pair. One third of the volume comes from USDT negotiations. Yesterday, the daily trading volume of the entire market was increasing. He canceled the $ 600 million mark.

The commercial action of LTC is in line with the prediction that Charlie Lee made at the beginning of December 2017. In his words:

"I do not want to spoil the party, but I have to put a tag on excitement." Litecoin (LTC) is a risky asset, if you ask me, we will have a multi-layered bear market where LTC will drop by as much as 90%. fell from $ 49 to $ 4. So if you can handle this kind of loss, go ahead and buy. Otherwise, do not buy. "

Litecoin (LTC) Price today – LTC / USD

The forecast has proven to be accurate as LTC is currently over 91% lower than its historical high reached during the December / January rally. Although Lee is the creator of LTC, he has not refrained from stating his honest opinion of what the future holds for LTC.

Litecoin (LTC) Price now

At the time of writing this article, LTC was traded in green with the dollar. Although a slight recovery in prices has been attempted, it is still doing well for $ 31.41. This shows that it is up 9.77% compared to the US dollar and up 3.97% compared to Bitcoin. Trading volume over a 24-hour period is $ 535,724,220 and market capitalization is $ 1,863,055,746.

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