Litecoin started off the month of December with a huge jump, going from $100 to over $350, but since then has been steadily falling. Now it is sitting around $224. Well off it's all-time high.
With so many of the small caps moving in the crypto space, Ripple, Lumens, Verge and ADA, it has been kind of shocking that the big three have not been performing better.
It is understandable that Bitcoin comes off it's high of $20k some, mainly because the fees are so high and it take a long time to verify transactions right now.
Ethereum and Litecoin have fallen too and now sit below other coins that do not have the impact of ETH and LTC. LTC has fallen to 6th behind Cardano now!
But I think that it is going to be a good week for Litecoin and even more importantly a good year.
Right now if you look at the chart, you can see that Litecoin is down while the rest of the markets are up overall.
I'm not financial expert and I'm not giving you financial advice, but to me it looks like LTC has hit a bottom and is poised to make some nice gains this week.
With the market the way that it is, and considering how cheap it is to use LTC, I can't imagine this coin going down much more than where it is while there is so much money flowing into crypto right now.
Looking forward, there are some good things happening right now for LTC. Just on Saturday, a member of the Litecoin Foundation tweeted that the founder of LTC donated millions to the development team.
That is good news.
The fact that they are not sitting back and taking it easy when LTC skyrocketed shows that the team has faith in their product and wants to take it further. That is wonderful for people holding LTC.
For me, I use LTC to trade and cash out. I love how inexpensive it is and how fast it is. Again, I'm no financial advisor, just a user of LTC and I'm excited for the immediate and long-term future of this coin.
What are your thoughts on LTC? Let me know in the comments below.
Thanks for reading.
Graphs and rankings from www.coinmarket.com
Tweet from Xinxi Wang on Twitter - https://twitter.com/TheRealXinxi
