We started this morning with very positive feelings. The cryptocurrency markets have had a very good weekend and the positive trend did look to be continuing into today, through the afternoon and into the rest of the week.
By 10:30am UK time however, the markets looked to be entering a slight decline. Whether this was down to correction occuring in the wake of the weekends successes, or something more sinister, it is hard to tell. Perhaps by the time this article is published, we will have a better idea of what is happening.
The trajectory of Litecoin however seems to be continuing into the afternoon, making further gains despite the state of the rest of the markets.
Over the weekend, Litecoin made solid progression, apart from a slight decline on the 21st of April. This was of course in line with the rest of the markets, so generally, it’s nothing to shout about.
Now, at the time of writing, Litecoin is valued at $150.10 and is up 0.43%.
This might not look significant, but indeed, it is.
Bitcoin is down, as are Ripple and EOS also. Overall, the markets are moving in a negative direction yet Litecoin is managing to balance above this. The $150.00 mark is a nice rounded figure that of course may encourage some to start selling, this in turn will influence the value of Litecoin in the coming days, so what do we expect to see?
As the markets decline, correction will occur and it is likely the Litecoin will follow on behind. Therefore, it is unlikely that we will see anything huge happen within the Litecoin camp any time soon, certainly don’t expect $200.00.
However, it is important to consider that, if we see another bull run soon, if Litecoin stays at the $150.00, it will give itself a huge advantage in which it will be able to really make the most of a bull run, something Litecoin investors should be excited about.
FYI: Coinbase’s Shift Visa debit card can be linked to any wallet in your Coinbase account. So in addition to BTC, it can be set up to deduct from your LTC (or ETH/BCH) wallet. #PayWithLitecoin https://t.co/BkdDg2XpX2
— Charlie Lee [LTC] (@SatoshiLite) 23 April 2018
Charlie Lee, founder of Litecoin has recently tweeted about further Litecoin payment options. Whilst Litecoin adoption is his dream, Lee has been under scrutiny recently for the LitePay controversy. Very recently however, this all seems to have been forgotten.
Litecoin is making tracks, yes, it has been helped along by a healthy market, but, as things start to decline, Litecoin is looking to stand up well.
Investing in Litecoin is of course a personal choice, one which should be balanced by solid research. Cryptocurrencies are risky, even though Litecoin is performing well now, things may change in an instant. Trade well!