Litecoin Trading LTC/BTC Technical Analysis, Dec 24: LTC/BTC Hits New Low
Litecoin has continued to struggle, either trading flat or trending lower even as its progenitor Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term shows some signs of life.
LTC/USD is back below $2.80 on BTC-e. Despite Bitcoin's slight rise of late, LTC/USD has continued to languish in the low $2.80's. Its underperformance is reflected in the LTC/BTC rate, which after slipping below 0.09, fell as low as 0.0085 on BTC-e during a spike in volume. It is currently trading 0.0086.
Since breaking through its 50-day moving average (MA) one week ago, the pair has fallen further behind. It is trading at its biggest offset (11%) to the level, now at 0.0097, since the August sell-off. Save for some brief moments earlier this month, it has not traded above this mark since early November. Even then, it barely managed to tread above the mark for more than a week after spending the better part of October below it.
Its continuing underperformance is reinforcing doubt in the minds of Litecoin fans, with some expecting the LTC/BTC rate to fall further. Recently, fans have also expressed frustration over what they perceive as underinvestment in the coin's future. Founder Charlie Lee sought to restore confidence, saying that "adding gimmicks does not help a currency succeed."
Litecoin has continued to struggle, either trading flat or trending lower even as its progenitor Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term shows some signs of life.
LTC/USD is back below $2.80 on BTC-e. Despite Bitcoin's slight rise of late, LTC/USD has continued to languish in the low $2.80's. Its underperformance is reflected in the LTC/BTC rate, which after slipping below 0.09, fell as low as 0.0085 on BTC-e during a spike in volume. It is currently trading 0.0086.
Since breaking through its 50-day moving average (MA) one week ago, the pair has fallen further behind. It is trading at its biggest offset (11%) to the level, now at 0.0097, since the August sell-off. Save for some brief moments earlier this month, it has not traded above this mark since early November. Even then, it barely managed to tread above the mark for more than a week after spending the better part of October below it.
Its continuing underperformance is reinforcing doubt in the minds of Litecoin fans, with some expecting the LTC/BTC rate to fall further. Recently, fans have also expressed frustration over what they perceive as underinvestment in the coin's future. Founder Charlie Lee sought to restore confidence, saying that "adding gimmicks does not help a currency succeed."