Will the Rise Continue?
Popular altcoin Litecoin (LTC) has become one of the best performing altcoins in the market today. The altcoin gained more than 5% in the last 24 hours, reaching $71.21. In this context, it managed to compensate for some of the losses that continued over the past month.
Litecoin has lost its dominance in the market by a large margin. Litecoin's devaluation by half in August last year, as well as its removal from the top 10 of the most capitalized cryptocurrencies with the emergence of new participants, failed to impress investors who expected a corresponding bullish price increase.
Ultimately, the altcoin came under the domination of the bears as its price remained below the $90 price mark from August last year until now. While the current Litecoin outlook is not as bullish as this local high, the coin has since grown from its lowest price point at $58.8 to where it currently trades.
