We all know that Litecoin is one of the best performing cryptocurrencies on the market. For that, it is also linked to Bitcoin and seen as “the new Bitcoin”. However, over the past few months, the Litecoin price has been sinking (just like many other cryptocurrencies).
Fortunately, the cryptocurrency market has been trading well over the past few weeks – making Litecoin outperform many other digital tokens.
The 9.44% climb of Litecoin has tripled the gains of it – when compared to competitors such as Ripple and Ethereum. Currently, Litecoin is trading at $136.91, soaring above the rest of the pack.
Meanwhile, Bitcoin rose 1-2% to trade above $8,100 and Ethereum is trading at $523. Ripple is also seeing a strong trade at $40.669. However, Litecoin is growing above all of them and has been performing great lately.
With this in mind, we can safely say that 2018 has not been the kind of cryptocurrency market we expected. Just like most of the cryptocurrencies in the top 10 list, Litecoin has suffered a lot and had a poor first quarter – making more than 50% of its value to wipe off in just three months.
However, the situation now is a lot better – and the cryptocurrency is in good stead to continue on a bullish trend in the short-term. The founder Charlie Liee also cautioned buyers of the present risks on a volatile market and advised:
“If you can’t handle Litecoin going to the high, then don’t invest. Long term is good, short-term – no one knows!”
Litecoin is also available on more exchanges in 2018, after the South Korean exchange Korbit accepted the cryptocurrency among the ‘big fish’.
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