Litecoin

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-stubborn-decline-while-litecoin-holders-endure-price-drop" rel="noopener noreferrer nofollow">Bitcoin Faces Stubborn Decline While Litecoin Holders Endure Price Drop</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-battles-to-sustain-rally-as-february-begins" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) is again witnessing a price below the $70,000 mark, with signs pointing towards a steadfast downtrend rather than an immediate recovery. Unlike typical fluctuations in bull markets where a 30% drop can be considered normal, BTC’s current losing streak threatens to have severe repercussions for the value of altcoins.</p>
<h2 id="litecoin-s-post-halving-downturn">Litecoin’s Post-Halving Downturn</h2>
<p style="text-align: justify">After experiencing a significant price surge post-halving last year, Litecoin (<a href="https://en.bitcoinhaber.net/litecoins-price-correction-and-market-analysis" rel="noopener noreferrer nofollow">LTC</a>) has seen its value plummet. Hopes for a rebound in LTC’s price, fueled by anticipation of BTC halving and ETF approvals, have diminished as the currency struggles to stay above the $100 benchmark. Over 351,000 wallets that held onto LTC for ten months, expecting prices to remain high, were met with disappointment as the value declined.</p>
<p style="text-align: justify">Investors who poured approximately $400 million into purchasing 3.96 million LTC in the $94 to $101 range now find themselves trapped by the <a href="https://en.bitcoinhaber.net/altcoin-surge-accompanies-matics-breakthrough-against-key-resistance" rel="noopener noreferrer nofollow">cryptocurrency</a>‘s underperformance. In contrast to other altcoins that have seen their values multiply, LTC investors have yet to enjoy similar gains.</p>
<h2 id="predicting-ltc-s-price-movements">Predicting LTC’s Price Movements</h2>
<p style="text-align: justify">The fate of LTC’s price recovery hinges on the ability to maintain the critical $94 support level and on long-term holders’ patience to resist selling en masse. Should the price stabilize and then target $100 and potentially $104, LTC could aim for significantly higher peaks. However, to ensure an upward trajectory, the $100 support level must hold firm.</p>
<p style="text-align: justify">A potential drop to $90 looms if LTC loses its grip on the $96-$94 support range. The daily chart presents a struggle to keep above this threshold, with potential downside spikes. Despite the downward pressure, recent trading activity reveals buyer interest at lower prices. Altcoins typically feel the ripple effects of BTC’s downturns, and without a halt in selling, LTC might slide towards $88-$83 and possibly even to $75, a price region visited earlier in March. Excessive selling could also precipitate a steep descent to the $67 support level.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-stubborn-decline-while-litecoin-holders-endure-price-drop" rel="noopener noreferrer nofollow">Bitcoin Faces Stubborn Decline While Litecoin Holders Endure Price Drop</a></h5>

Bitcoin Faces Stubborn Decline While Litecoin Holders Endure Price Drop

목차

BH NEWS

2024년 3월 14일에 게재된 다른 기사

Ethereum’s Rally Raises Concerns Among Investors

BlackRock ETF Sees Surge in Bitcoin Holdings as Institutional Interest Rises

Meme Coin Mania Erupts Again As Solana Token SMOG Is Top Gainer, And WIF And PEPE Hit New All-Tim...

MANTRA Aims to Bring RWA Tokenization to The Middle East and Asia

Edward Snowden Mocks AI Doomers, Urges Focus on Real Threats

Exploring the interplay between meme coins and native networks

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!