Litecoin and Sprint, two altcoins with huge promise, are having a tumultuous 2018. Each cash have steadily declined over the course of the yr. With the most recent value decline throughout the market, each cryptocurrencies are actually at a crossroads.
Litecoin Struggles to Keep Above $100
The cryptocurrency market is bleeding proper now. An enormous correction wave swept by way of the cryptocurrency market between June 10 and June 12, 2018. Throughout this era, many top-100 cash recorded proportion value declines within the double-digits.
For Litecoin (LTC), the bears couldn’t have come at a worse time. The sixth-ranked cryptocurrency by market capitalization has been steadily declining because the begin of Might. On Might 7, LTC value reached $180. That was the final time Litecoin traded above the $150 mark.
Within the final three days, Litecoin fell considerably within the area of mere hours indicating what is perhaps a cussed bearish trendline. On the time of writing this text, the value has fallen beneath the $100 mark – a significant psychological value barrier for Litecoin.
Presently, the sixth-ranked cryptocurrency has declined by greater than 60 % because the begin of the yr.
The final time LTC traded beneath $100 was in mid-December 2017 proper earlier than it skilled an astronomic spike that despatched LTC costs hovering above $300. This value surge coincided with a peak interval out there when many different prime cash skilled important positive aspects.
2018: A Bitter 12 months for Litecoin
All of it started in late December 2017, when Litecoin creator, Charlie Lee introduced the sale of his complete LTC holdings. Costs dipped extra $100 within the days after the announcement and have struggled ever since. Then there was the LitePay debacle earlier within the yr when the flagship Litecoin cost service didn’t launch.
Now, Lee’s “silver to Bitcoin’s gold” creation has discovered itself relegated to the background of the “top-coins” narrative. Just lately, some analysts have predicted that Litecoin could possibly be in line for a huge value surge. Nonetheless, the present troubles point out in any other case – a minimum of, in the interim.