Lately crypto prices have been dropping.
Litecoin's price pattern is bearish and the future of LTC is unknown and fragile.
Investors that hold large amounts of LTC are deciding to exit trades and I realise now Litecoin isn't as strong as stable as I originally convinced myself and its popular as it used to be, from my experience.
Many find other cryptos have a better chance of making a substantial profit
Here are some top reasons that are effecting the price of LItecoin:
- The largest holders of LTC are exiting the trade market
- The price pattern LTC had been following is not profitable
- There is nothing that shows or proves LTC is a good investment, especially with the selection of cryptocurrency we have today.
- The prices of all cryptocurrency seem to be following a downtrend
- Some are in a panic and are afraid is losing money so they sell at a really low price so they can re-invest in other currencies.
Litecoin is currently the 15th largest currency to tjis date. It was originally created by Charlie Lee because he wanted to create a better version of bitcoin. But to this day Bitcoin remains #1.
What does the future of Litecoin hold? Will Litecoin keep spiraling into a downtrend and fade away in obscurity? Or will it rise above the market hurdle as the price goes up substantually?
What ever the case is one thing is obvious. If prices of crypto is dropping don't expect prices to go up for LTC
Once physical currency is outed into a thing of the past and digital currency becomes our new main currency the prices of most digital currencies will probably rise. However that is not the case currently.
What do you think will happen with LTC? Enter your comments below.