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Litecoin Price Analysis and Market Update

by icosuccess
, Litecoin Price Analysis and Market Update

The halving of a cryptocurrency is believed to come with an increase in demand as the incentive offered per block of mined transactions was slashed from 25 LTC to 12.5 LTC. This, however, was not the case as eager investors were highly disappointed as the Litecoin price plummeted further to a $70.00 low at press time.

With a continuous increase in Bitcoin (BTC) dominance, Litecoin (LTC) and other altcoins are suffering massive loss as their price forms new lows.

In an interview with Al Jazeera, Eric Turner from the Messari Blockchain Analytics firm stated that a couple of investors are exiting their positions on the LTC cryptocurrency, following the halving of the number five cryptocurrency by market capitalization.
Let’s take a closer look at the technical drivers of the LTCUSD price.

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