Crypto

Litecoin Price Resumes Push to $60 yet “Litecoin Bank” Idea Divides Community

It would appear most of the cryptocurrencies, tokens, and digital assets have successfully weathered the storm this morning. While there is still a long way to go, far less red on the charts is always a good thing. The Litecoin price is trying to move up again after a minor struggle. The push to $60 is still in effect as of right now.

Litecoin Price Momentum Looks Promising

It is good to see nearly all of the top markets in the green again after what appeared to be a new wave of bearish pressure forming. Litecoin is suddenly turning on the pumps again, as its one-week trend was bullish well before today. However, it seemed that market would turn bearish for a while as well. With that crisis now off the table, it will be interesting to see if $60 becomes a viable price target over the coming weeks.

As far as the Litecoin price is concerned, it would appear things are getting rather interesting. With a 3.15% gain in USD value and a 2.68% gain over Bitcoin, no one can deny things look promising right now. As the Litecoin value surpasses $57 again without too many problems, there is some cautious optimism to be noted. Combined with a healthy trading volume, this week may turn out to be a rather good one.

On social media, there is no shortage of Litecoin discussions as of right now. It seems the recent post regarding the Litecoin Core 0.17.1 release candidate sparks some excitement. Further developing any cryptocurrency is always necessary. Standing still in the cryptocurrency world will always result in a massive price decline. While Litecoin might not be the most innovative altcoin on the market, it certainly shows some signs of life when the time is nigh.

There is also a very peculiar poll on the internet which would see the creation of Litecoin Bank. More specifically, WEG Bank is intent on changing its name to Litecoin Bank if their Twitter poll gets enough support. As is to be expected, a portion of the community does not like this idea whatsoever, as associating cryptocurrency with a bank is asking for trouble.

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For those who are mainly intent on checking out the price chart, it would appear there is room for further growth at some point. A return to a price of $300 or more will not happen in the near future whatsoever, but it is always important to keep one’s options on the table these days. Slow and steady will certainly yield favorable results compared to quick pumps.

Based on the current market circumstances, it would seem Litecoin is clearly in a good place. The big question is whether or not this is a permanent uptrend or just another blip on the radar. Assuming it is the latter, things could return to normal pretty quickly at this rate. A push to $60 would spark plenty of excitement, for rather obvious reasons, yet it remains to be seen what will happen to Bitcoin first and foremost.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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.

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