Chart of the Day | Bears Taking on Litecoin?

[valerie_zurich]

Litecoin might have peaked above $80 very recently but the bearish market sentiment of the last few days cut its rise short. LTC/USD markets continue experiencing big losses after the initial downward spike.



Chart source:

https://cryptocoincharts.info/pair/ltc/usd/bitfinex/2-days

[TimeHacker]

I think it might be just a normal correction after doubling of Litecon's price in the previous weeks.
And of course, the price fall is also supported by the rumors about Chinese ban of fiat-crypto exchanges. We'll see what the Chinese regulators do in the end. If they really ban all exchanges the prices may drop even further, but for me all this looks like a good opportunity to buy some more cryptos in general.

[pereira4]

Litecoin might have peaked above $80 very recently but the bearish market sentiment of the last few days cut its rise short. LTC/USD markets continue experiencing big losses after the initial downward spike.



Chart source:

https://cryptocoincharts.info/pair/ltc/usd/bitfinex/2-days

That's a nice chart.

I dumped by Litecoin a while ago. I think we are going to see a bear market on Litecoin until next year when we get cross chain atomic transactions in order for Bitcoin to benefit from Litecoin. This could be a great thing to drive the price of Litecoin up, ideally 1/4 of a Bitcoin as the goal of Litecoin being the silver of crypto.

[alyssa85]

Bears are attacking all alts at the moment. Very few coins are green at the moment.

People got scared with the China FUD and are cashing out into bitcoin and then into fiat while the bitcoin price is over $4000.

[neinnein125]

I completely agree. Bears are running everywhere, every coin right now. They are getting cheap coins from panic sellers. Just be patient and look ahead. Litecoin will have bull run in a month.

[Buckwheet]

not only litecoin. beartrap everywhere. just stay calm and way. dont panic sell people. I think that China trader trick

[stronghands4lyfe]

Not just litecoin but the whole market currently. Mainly because of the chinese news on ICOs and exchanges as well. Those two news pieces coming back to back 2 days apart was not good for the market.

That being said, I dont know how long this current trend will last but I imagine if no more bad news surfaces I expect things to retract and go back up. Thats just my two cents on the matter, may be wrong.