Bitcoin's share of the total cryptographic exchange market resumed on Monday and has been increasingly close to the critical mid-point.
As the increase in BTC dominance increases Litecoin's cost (CTC's market share has grown from approximately 2.02% to approximately 1.91%), there are no other messages from Litecoin to reduce forecasting LTC prices.
At the time of reporting, the Litecoin to USD exchange rate decreased by 3.83% to the land about $ 52.14. However, the exchange rate from Litecoin to Bitcoin was only amortized by 1.14%.
The volume of transactions fell during the last week, from $ 220.36 million to $ 95.47 million. A small amount of LTC chips changed hands on Monday, but at least the vast majority of them were traded outside of China.
Big thumb, a Korean bag, was Litecoin's main shopping mall. 19.09% of the total trading volume continued sold while two US, GDAX, and Bitfinex stock exchanges accounted for 16.05% and 8.90%, respectively.
Meanwhile, the impact of the two largest Chinese exchanges is getting smaller. Huobi and OKCoin are now only 5.9% and 4.30% of Litecoin's commercial business these days, and as these numbers continue to decline, we have seen new support for LTC.
It should also mention that yesterday's slowdown does not affect Litecoin's long-term price forecasts. That is easy, because of cryptocurrency prices before two steps forward, one step back.
For those who remain skeptical, try to remember that Litecoin's prices were less than $ 40.00 two weeks ago. They may have fallen 4% yesterday, but prices are still 42% compared to their September level.
Analyst Taking:
With the cost of bitcoin trades reaching absurd heights, we still believe it is possible for Litecoin to dig a niche in the cryptographic landscape. It takes an additional acceptance by ordinary consumers to be sure, but we maintain our Litecoin price forecast of $ 200.00. That is certainly not affected by a daytime movement.