Just like all the other altcoins in the market, Litecoin had a tough time last week. The price fell so low that investors didn’t know if they should dispose of their coins or hold them. However, the bearish wave subsided and just like other altcoins, Litecoin price is rising today.
Litecoin (LTC) Price Today / USD
What is in Store for Litecoin?
When Litecoin was trading at $120, investors were worried that the stagnation will eventually drive the altcoin out of the market. As if that wasn’t bad enough, Litecoin price started falling until it got to $74. The $74 level wasn’t stable but the Litecoin team had confidence that things will get better soon. The upcoming Litecoin Futures is going to boost the price of Litecoin.
Litecoin Futures will make the cryptocurrency more legitimate and make it the number one choice for institutional investors. It will increase the liquidity of the platform. The federal reserve has already added Litecoin to its portfolio as they anticipate the release of Litecoin Futures.
The cryptocurrency will soon be listed on BitBox which operates in line with a made in Japan messaging app. As soon as it is listed, Litcoin’s presence in Asia will grow ultimately increasing the price of the altcoin. Soon, it will be listed on St. Louis Federal Reserve as one of the coins with the largest market capitalization. This will also push the price North.
Litecoin has a direct relationship with Bitcoin. It set its roots in the same market that is dominated by Bitcoin. So, Litecoin price is rising because Bitcoin price is rising.
Litecoin Price is Rising After Falling to $74
Litecoin price is rising on the 24-hour chart. It has gotten to $82.02 from $74 indicating a price increase of about 2.10%. This is a positive sign that shows that the market may be on the way to recovery. If it continues to rise in the coming days, it may leave the bearish zone in the next few weeks according to Cami Albert. So, if you’ve always wanted to buy Litecoin (LTC), this is the best time to start staking it. Buy and hold to gain massively soon.