Litecoin Price Inches up Again as Other Markets Struggle
With all cryptocurrency markets in a very odd state once again, it will be interesting to see what the future holds. The Bitcoin price is moving up, yet half of the top 15 markets are losing value as of right now. The Litecoin price is one of the few rare exceptions in this regard. More specifically, we see the Litecoin price rise by 3.73% in the past 24 hours, pushing the value to just over $214.
Litecoin Price Tries to Note Positive Momentum
So far, it seems as if this weekend may turn out slightly catastrophic for most cryptocurrency markets once again. Even though the Bitcoin price is performing surprisingly well, most other top currencies are stuck in limbo as of right now. Litecoin is one of the few positive exceptions in this regard, although it seems to mainly mimic Bitcoin’s momentum as of right now. The Litecoin price gains over the past 24 hours are virtually identical percentage-wise to that of Bitcoin.
That does not have to be a bad thing per se. After all, Litecoin still gained 0.35% over Bitcoin in the LTC/BTC ratio, although that difference may be neglectable when looking at the bigger picture. For now, it is good to see Litecoin not lose value over Bitcoin unlike all of the other altcoins on the market right now. Whether or not this means we will see some further solid Litecoin price gains, remains to be determined. Anything is possible at this stage, depending on how the LTC/BTC ratio evolves in the coming hours and days.
As of right now, we are now looking at a Litecoin price of $214. That is a rather solid trend, although the same LTC was worth $226 just a few days ago. All markets are still pretty volatile as we speak, as can be seen from the Litecoin price chart over the past week. With the value ranging from $196 to $228 over the span of just seven days, it is evident there’s good money to be made if you can time the highs and lows correctly.
With $703.86m in 24-hour trading volume, things look pretty solid for Litecoin as of right now. This trading volume is a lot higher compared to most other altcoins on the market right now, but things may effectively change in the right direction once again. For now, Litecoin is relatively strong in its own way, although it would be nice to see this trading volume surpass $1bn once again. It is possible this may happen later today, but for now, there is no reason to even remotely concerned about how things are evolving as of right now
Few people will be surprised to see how OKEx is the world’s leading exchange in terms of Litecoin trading volume. Their BTC and USDT pairs combine for over 44.5% of all trades, which is pretty significant. GDAX completes the top three with its LTC/USD pair, and their lead over Bitfinex is pretty big as of right now. With two fiat currency pairs in the top four right now, things are certainly looking pretty good for Litecoin, but it remains to be seen if this situation undergoes any major changes later today and tomorrow.
For the time being, things look pretty good for the Litecoin price. If this trend keeps up, we may effectively see LTC surpass $220 later today. Considering how the weekend is rather notorious for its cryptocurrency market volatility in general, the current uptrend can easily turn into a massive Litecoin price dip in a matter of hours. It will be interesting to see how this particular market evolves in the next few hours. If the trading volumes just a bit, things will get a lot more interesting, for obvious reasons.
Source: Read Full Article