Litecoin was never able to overcome the psychological barrier of $50 and continues to lose ground.
Thursday, March 26, altain managed to rise to $38.5 on the Bitstamp exchange after falling to $29 on March 18. Capitalization of cryptocurrency, is now just over $2,518 billion
Market volatility still high and is troubling to many experts. Among them began to increase the position of pessimists, who believe that in the near future we will see a new wave of weakening of litecoin. The result of the rollback will be updating the minimum values of LTC.
i like to use ltc as a guage for the broader crypto market as i find it usually has a clearer structure.
this rise the last few days feels like its been an abc up and now printing a lower high at the 0.618, cant help but feel atleast one more low down to 22-24 is on the cards pic.twitter.com/TBiP9avTvh
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) March 25, 2020
For example, a trader Benjamin Bland does not exclude such a possibility that litecoin could collapse to $24-22. The same analyst believes that the decline in LTC is usually preceded by a stage of reducing the value of bitcoin.
Most likely, sales will increase in the coming days. Litecoin critics have long claimed that this digital asset is trying to imitate bitcoin and even «attach themselves» to the first cryptocurrency. That is why LTC is doomed to failure.
Last year the founder of litecoin Charlie Lee has announced readiness to support the project at their own expense. According to him, without the optimization of expenses and financial support of a startup Litecoin Foundation to develop this cryptoprocta will be very difficult.