Litecoin is often seen as one of the more volatile currencies. It’s value range means that even small percentage blips in the market can have quite a strong impact on the value of the currency.
Over the past month we have seen Litecoin make big gains and then take big hits outside of the general trend of the rest of the markets. It has a huge influence, ranked 5th on coinmarketcap.com but unfortunately too, it seems to be hugely influenced.
If we look back at how Litecoin has performed since March, you can build a picture of how volatile the currency is. Towards the end of March, Litecoin was reaching of $170.00 before taking a huge drop down to little over $110.00. The start of April saw some balance instilled in the coin, with an average price at around $120.00 taking hold, although Litecoin’s volatility was demonstrated as values ranged from $110.00 to $130.00 on quite a regular basis.
Today, 16th of April, we see Litecoin, at the time of writing, valued at $128.22, down 0.23%.
What is interesting about Litecoin is that is seems to be totally unaffected by the mid-April market surge. On Friday the 13th of April we saw the majority of currencies make terrific gains, notable Bitcoin earned almost $1,000 in a matter of minutes. Litecoin however simply continued on it’s ride between $120.00 and $130.00, reaching a temporary height of around $133.00.
It does look a little like Litecoin is struggling to find a steady pace, what this does suggest is that the value of the currency is at risk of a big drop, especially if it doesn’t manage to take hold of the next expected market surge. Whilst this is just speculation, many people are expecting another surge to take place in the wake of last week’s effort.
Litecoin really needs to stay ahead of the $120.00 threshold it sits so close too. Maintenance over $130.00 would be a really good sign for a currency that looks to be struggling to hold its value, so, therefore, staying far away from the $120.00 benchmark at least shows that Litecoin can remain at a steady pace.
This week, we expect that Litecoin continues to teeter around $125.00.
If, it can keep above $120.00, then we would expect its value to be a little more influenced by a second bull run or a market surge, which could give Litecoin a much-needed boost up to $130.00 and beyond. Overall, it Litecoin wants to breach the $300.00 mark like it did in it’s peak, then we need to see it regularly reaching a value of $150.00 soon, otherwise Litecoin is at risk of being left behind in what seems to be an ever-expanding market.