Categories: CryptoNews

After Brief Dip to $78, Litecoin Rebounds Strongly

While most cryptocurrencies dropped a lot in value over the past two days, the Litecoin price remained largely unaffected. Granted, there was an initial dump to around US$78, but things picked up steam again shortly afterward. Right now, we have a Litecoin price of almost US$90 once again, and the push toward US$110 is still intact. How things will play out in the next few hours and days remains to be seen.

Litecoin Surge is Still Intact

It is good to see all cryptocurrency markets finally recover after a somewhat rough period. The Bitcoin price has a habit of dragging all altcoins down with it, which can certainly have some very significant consequences in the end. For the

Litecoin price, this turmoil was somewhat limited, as the market experienced a brief dip before recovering. Wild price swings are not uncommon in the world of cryptocurrency whatsoever.

Having dropped just US$6 when the Bitcoin price fell over US$2,000 in short order, Litecoin has certainly held its own compared to most other currencies. When the price started mounting a comeback to US$90 a few hours ago, things looked promising. Subsequently, the Litecoin price struggled a bit and dipped to US$84, but this trend has since reversed.

With the Litecoin price heading back toward US$90, it is only a matter of time until we see another push toward US$100. Prior to the Bitcoin dip, we had expected that the Litecoin price might hit US$110 in the near future. Now that all markets are recovering, we may see that projection come true. After all, nothing is impossible in the world of cryptocurrency, and we may even see some new all-time highs for a few other cryptocurrencies before the year is over.

Related Post

With over US$451 million in 24-hour trading volume, the demand for Litecoin is certainly still there. While this is not the highest trading volume among all altcoins by any means, Litecoin has a habit of generating steady volume for extended periods of time. This is very different from a lot of other altcoins right now, which only confirms that LTC will continue to stand out among all other cryptocurrencies.

One thing that hasn’t changed is that GDAX is still the leading Litecoin exchange by trading volume. Bitfinex is in second place, and OKEx successfully leapfrogged Bithumb to claim the number three spot. It remains to be seen whether or not the South Korean exchange will find a way to mount a comeback.

For now, it seems the way to a new all-time high LTC price is wide open, although that will depend on whether or not Bitcoin will “shit the bed” once again before the week is over. We haven’t seen a monumental correction just yet, but that may never happen for all we know. These are interesting times for cryptocurrency traders all over the world, to say the very least.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

6 mins ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

10 mins ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

16 mins ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

22 mins ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

3 hours ago

Top 5 Best Crypto Presales to Grab Now: Don’t Miss These December Week 1 Gems

The crypto market is a buzz with promising presales as 2024 draws the curtains. With…

4 hours ago