Litecoin is one of the top cryptocurrencies that had also suffered a major blow with the latest market dip.
Due to the fact that the dip took over -18% of LTC value in the course of the last week Litecoin was misfortunate enough to touch a new low and go far below the price of 50 $.
Litecoin had previously struggled to touch the value of 70 $ once again, constantly going back and forth between 55 $ and 65 $ for weeks until it finally went below 50 $.
Now that LTC is the price at 42 $ there is an equal chance that the crypto might decide to go below 40 $ as well as it could be the case that Litecoin will be revisiting some more flattering prices.
The market is still feeling bearish; however, LTC has a good chance of having a rebound with the latest attempt of bouncing back up by a bit over 1% against the fiat.
Will Litecoin (LTC) Revisit Some of Its High Value or Continue with the Dip?
Litecoin definitely touched the lowest price it has in 2018.
Previously struggling with keeping its value above 60 $, Litecoin finally gave up to the negative market trends, which drove the crypto down below the value of $ 50.
After the latest attempt of bouncing back up, Litecoin was able to get to the price of 42 $, however, LTC is still seen in a decline by over -18% in the course of a week.
The case of Litecoin is definitely not isolated as top crypto assets like Ethereum, Bitcoin, and Bitcoin Cash are also touching new lows, not all lucky enough to be able to acquire at least 1% of growth in the last 24 hours.
As far as Litecoin concerned, some analysts indicate that although at its low, Litecoin will be able to get back to the value of 100 $ by November 2019 with the predicted yearly growth of over 120%.
However, there will hardly be any significant rises for LTC by the end of 2018 that could take it closer to 70 $, at least not at its current pace of growth.
Some Analysis Indicate New Lows for Litecoin by December 2018
Based on the current rate of growth of Litecoin which is currently recording almost -40% of loss in the overall value in the course of the last year, it is calculated that in case LTC would continue at its present momentum, the crypto would definitely head below $ 40.
Calculations based on the previous momentum of LTC in the market indicate that the crypto could go to as low as 37 $ by the end of December, where Litecoin is risking of loss of over -30% against the fiat.
Litecoin (LTC) Price Today – LTC / USD
In case Litecoin would continue at the current pace of growth, the seventh crypto would not get to see a major rebound by the end of 2018.
However, the market is showcasing unstable and sudden changes of trends, so surprises are possible and perhaps even welcomed by Litecoin enthusiasts.
Even though Litecoin made some major scores when it comes to adoption during 2018, it appears that the initial success is not matching the value of LTC.