Litecoin lost over -92% of its total value during the course of around 11 months, which most probably describes the severity of long-term bear trends.
However, although LTC also dipped from its long-held spot of the 5th
largest cryptocurrency to taking the 9th
position on the list with what appeared to be major odds for leaving the list of top ten trading currencies.
Litecoin even went below the value of 30$, at one point losing over -50% of gains in the course of only a single month.
With the latest attempt of rebounding in the market, we can see that all cryptos are collecting gains on December 16th
. The latest gains can be a part of a significant recovery, however, if gains fail to stick around for longer than a day, the cryptocurrencies will continue to dip at an accelerated rate.
Litecoin is one of the top trading cryptos today on the list of top ten trading currencies, with collecting 11% of gains in the course of less than a single day.
The latest gains still couldn’t help LTC break the resistance of 30$ and get back above the initial price.
Litecoin Gets Past Bitcoin SV (BSV) and Bitcoin Cash (BCH) While Taking the 7thRank on the List
In the latest bull run where Litecoin managed to take a spike of 11% against the dollar in the course of the last 24 hours, LTC managed to get past two previously better-positioned cryptocurrencies, Bitcoin Cash (BCH) and Bitcoin SV (BSV).
Even though Bitcoin SV is marking 7% of gains in a single day, following LTC while the rest of the top ten traders are rising by 3% as a maximum average in the last 24 hours, BSV is showing negative returns of over-23% against the fiat in the last seven days.
Litecoin (LTC) Price Today – LTC / USD
That is how Litecoin managed to push BSV down the ranking list, also getting past Bitcoin Cash, now positioned as the 8th
largest crypto with -24% of losses in a week, while BSV is settled as the 9th
biggest currency at the moment.
Litecoin managed to take a better position on the list with the market cap of over 1.5 billion dollars, also recording nearly 2% of gains in the course of the last week and progressing ion an hourly basis by 1% at the moment of this writing.
At this pace of growth, LTC seems to be attempting to recover, however, the gains might be short-term and might not last long enough to get LTC back above 30$.
What to Expect from Litecoin in 2019?
The more optimistic case scenarios dictate that Litecoin will continue to rise in 2019, managing to get even above the price of 60$ during the course of the next several months.
However, other forecasts predict that 2019 will be equally bearish as 2018, which means that Litecoin might not be able to get far from its lows in the course of the next year.
In case LTC doesn’t find a positive momentum in the following months, the crypto is risking seeing new lows, which means LTC could even go below 20$ despite the latest gains.