Litecoin News Today – Litecoin LTC Price Drops by 14% Against the USD – March 10th, 2020 

  • Litecoin LTC price dropped by 14%
  • Crypto analysts have warned that the coin may suffer more losses
  • The Litecoin LTC price is changing hands at $49.72 at press time

Litecoin news today – The entire digital asset market has continued its slip after yesterday’s losses began. Things are beginning to look bad for the digital asset LTC. Currently, the correlation between BTC and LTC means that, even though the price of Bitcoin retreats further from the $8,000 area (shedding a whopping 9.77% in the process), the Litecoin price will make it one of the worst-performing top ten digital currencies for the year. As of when this content was written, the price of Litecoin was trading at $49.72. The project has lost another 14.29% in the past 24 hours of trade. Many LTC proponents have wondered when is Litecoin halving? Because they believe the event may help steady the ship for LTC.

Litecoin LTC Price Dropped by 14% in Last 24-Hours

The losses that have been experienced by LTC and the rest of the crypto market started on the weekend after nearly $30 billion shredded from the overall market cap of the entire space. During the past two days, the number one coin, Bitcoin, has declined by 18%. This decline has taken the value of the digital asset down and that of the rest of the crypto market down as well. Hence, most of the major altcoins including Ethereum, EOS and Bitcoin Cash, as well as Litecoin are posting double-digit losses. Even though the reason behind the sudden price drops isn’t clear yet, many experts have speculated that it is a result of the wider stock market drop due to fears of the coronavirus pandemic.

Cryptocurrency Analysts Have Warned That Litecoin May Suffer More Losses

This is why we shouldn’t be surprised that crypto analysts are suggesting that Litecoin’s short term outlook is likely to remain the same which is bearish. Analyst, Eminence Grise has suggested that since LTC has dropped through several of its support positions, and considering how strongly associated the asset is with BTC, it’s highly unlikely that we will see the price of the Litecoin stage any recovery in the short term. The analyst opted that the price of LTC will decrease to $47 and $50. Even insisting that there is a possible subsequent drop to the $43 area.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$0.00

Recently, a good number of digital currency analysts have openly spoken about the cause of the current market meltdown. They offered warnings after giving a theory about the cause of the current bear season. One Blockchain researcher called Ergo has given his suggestion about the situation. The analyst claims that PlusToken scammers have been mixing up to 13,000 BTC (which is currently valued at $101 million), to make them more difficult to track. Even though we have no idea of when Litecoin is halving we must head the advice of analysts.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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