Litecoin price may have defied the bear market yesterday by gaining some gains, however; today Litecoin once again fell in line with the crypto market.
LTC price is performing worst among the top five cryptocurrencies by market capitalization losing a little over fourteen (14.22%) percent in the twenty-four window. While the current drop has pushed Litecoin down to the sixth spot among the top cryptocurrencies.
Currently, Litecoin price is standing at a little over fifty-seven dollars ($65.46) down from yesterday’s high of seventy-three dollars.
Litecoin price movement: What to expect?
This current value of Litecoin is one-sixth of its all-time high of a little over three hundred and ninety-one dollars ($391.41), which was achieved in December of 2017.
While other cryptocurrencies lost their values gradually since yesterday, Litecoin price lost most of its value only in thirty minutes, falling from seventy-two dollars ($75) to sixty-two dollars ($62) on 23rd September.
The second drop came on 24th September when the LTC price dopped further to the current price of little over fifty-seven dollars ($57.02). This seems to have happened during the selling frenzy that swept all across the crypto industry, with altcoins losing their value faster than Bitcoin (BTC).
Litecoin price loss today is the continuation of the three-month-long downtrend, as the digital currency has lost almost two-thirds of its value. LTC price fell from its peak price of a little over one hundred and forty-two dollars($142.76) on June 22, 2019.
The current market capitalization is a little over three and a half billion dollars ($3.618B). LTC has also lost its spot as the fifth-largest digital currency to Tether.
Whether Litecoin is going to experience some more dropping off the price is yet to be witnessed, however; the future does not look that great for LTC.