- Altcoins including Litecoin on verge of dropping by 10%.
- Litecoin LTC price on verge of dropping below a pennant patterns
Litecoin news today – following reports that Litecoin owner issued a proposal on how to the Litecoin Blockchain network could raise. Charlie Lee said miners should make pool donations. Meaning miners on the network should voluntarily donate 1% of their block rewards to ensure that the network is adequately funded. The coin has started the day trading in the red region. The coin may be enjoying a slight change in fortune in the last few hours of trade. However, one crypto commentator posted on Twitter that the majority of altcoins including the likes of Litecoin will take a 10% drop. It’s been nearly two days since he made the post. We are yet to see any negative changes in the price of Litecoin at press time.
Litecoin (LTC) Price Today – LTC / USD
It will appear the prediction given by the analyst known as Mr. Chief on Twitter hasn’t come to pass. In his words Mr. Chief said:
“I don’t see anything bullish about major altcoins like LTC, ETH, and XRP.” He added that altcoins are set to drop by 10%.
Over the past month and before his bearish prediction for altcoins, the asset class seems to have taken a turn for the better. They are finally starting to break higher. This has reversed the Bitcoin-centric trend that has been a constant feature of the crypto market throughout 2019. Currently, the Bitcoin dominance metric has declined to 66% since the past week. This has led altcoins like Ethereum, XRP, and Litecoin to launch bullish momentum and outpace the number one digital asset by market cap. Litecoin opened the day trading at $56.53 having gained 4.4% in the last 24 hours. It may be too early to call the prediction given by Mr. Chief a bluff because the market is highly unstable and things could turnaround at any minute. All in all, traders can enjoy the current bullish action while it lasts.
Litecoin’s Market Cap and Trade Volume
The price of Litecoin gained 4.4% at press time with a total market capitalization of $3,615,107,578. The coin also has a 24-hour trading volume of $3,407,761,609 and a total circulating supply of 63,947,399 LTC. The current action of the LTC price is something to happy about. This is because all signs of weaknesses for the digital asset has been squashed by the current shape of the market.