It appears yesterday afternoon’s positive trend is still in place for all of the top currencies at this time. That in itself is a big surprise, but also a welcome one. As the markets begin to look healthy again, traders seem excited about what will come next. The Litecoin price has climbed above $60 again and seeks to resume its bullish trend in quick succession.
Litecoin Price Seeks to Push Through to $65
It is quite interesting to see how the cryptocurrency momentum is still in place as of right now. After a few rough days, yesterday’s uptrend took a lot of people by surprise. As such, there was some concern as to whether or not there would be a retrace this morning, yet that doesn’t appear to be the case as of yet. If Litecoin is any indication, things can get pretty interesting moving forward, although there is a limit as to how high these markets can go in the process.
As far as the Litecoin price itself is concerned, there is a healthy 3.15% uptrend in USD value to take note of. However, there is just a 0.54% gain in LTC/BTC, which is slightly worrisome. It may take some time for altcoins to hit their stride in terms of potential BTC gains. Even so, LTC is doing a good job, as it currently sits at $60.9, or 0.01503 Bitcoin. It will be interesting to see how much upward potential there is left throughout the day once this day is over, as there is still some uneasy on the markets.
When looking across social media, it would appear it is pertinent to keep the past in mind as well. More specifically, if people purchased Litecoin at the time of launch – or when it first hit exchanges – they would be up by 1,316% at this time. A very strong showing of increasing value, even after going through a hellacious bearish market trend for some time. It is certainly possible this percentage will continue to increase. Most traders only look at the short-term gains or losses, but the long-term perspective still looks pretty good, all things considered.
— CryptoMajoni (@maxherbertwest) March 27, 2019
There are always those people who think these are the early days in terms of profit potential. While there is certainly a case to be made in this regard, expecting Litecoin to hit $250 again seems a bit overly optimistic. However, It is certainly possible such a trend would occur, primarily because all of the markets show a keen desire to keep moving up. Only time will tell if that is even remotely possible under these circumstances. The bear market still isn’t over by any means, thus caution remains advised.
Use math to determine Litecoin fair price at $250
Bitcoin market cap is 83 billion, there are 21 million bitcoin & there are 84 million litecoin, taking 25% of bitcoin market cap and dividing by 84 million gives you $250
— Bitcoin Litecoin Master ⚡️ (@xtdisnkfe) March 27, 2019
LitetheWorld is looking for ways to make money with Litecoin in whatever way possible. As such, he would even go as far as shorting or dumping Bitcoin SV if it would allow this trader to accumulate even more Litecoin in the process. A bit of an interesting approach, although the sentiment toward Bitcoin SV has soured significantly in recent weeks. Litecoin should be capable of doing fine on its own without people actively manipulating other markets, though.
Short or dump for more #litecoin play both maybe
— litetheworld ⚡️ [LTC] 🦜🦂 (@LitetheW) March 27, 2019
As these Litecoin gains look incredibly promising, it remains to be seen what the future will bring exactly. As long as Bitcoin remains in the green, it seems rather likely the alternative markets will do so as well. Litecoin, while not necessarily too reliant on Bitcoin, will continue to enjoy this positive momentum in its own way. Carving out improvements in LTC/BTC, however, may prove to be rather difficult at this time.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.