Without much news from Litecoin to shoot from side to side, the "animal spirits" took LTC awards on a roller coaster ride. On Tuesday morning, there was a rough bathroom, which looked natural after the high rise on Monday and Friday.
What is happening now?
Well, the Litecoin movement indeed depends on its most famous counterpart: Bitcoin. The relationship between the two currencies is like the one of silver and gold.
Litecoin strives to develop all these commercial uses, while Bitcoin turns the investor into the Great ideological launch strategy.
Last week we wrote that the LTC had to face an increase because it stalled from $ 2,946.62 to $ 5,656.70 during the monthly rise of Bitcoin. The concentration at Bitcoin, designated by BTC Dominance, would sooner or later decipher, we had predicted.
Litecoin's prices went from $ 32.03 to $ 50.00. There was a lot of undecided behavior at the $ 50 mark, but investors later found strong support.
LTC increased to $ 60.00 late last week and even dared to reach $ 70.09 at one point over the weekend. These gains returned on Monday afternoon and Tuesday morning, but does this mean that investors are "bearish" with Litecoin?
Given the broader context of what has happened in the last two weeks, this seems unlikely.
Investors are more likely to move in different currencies to take advantage of short-term price increases. That means prices move forward in a "two step forward, one step back" routine.
Investors should not worry that Litecoin's exchange rate against the USD will fall from 4.89% to $ 60.94. The currency is still trading 19% above the price of last week.
Litecoin Price Table:
Analyst to take:
Litecoin flirted with $ 90 before China banned the food trade from the crypt last month. We have seen that the volumes of South Korea and EE. UU. Replace the missing amount of these Chinese bags; we believe that LTC will return to this level. Beyond the $ 90.00 threshold