The Popular Altcoin Litecoin Is Up 50 Percent In 1 Week As Bitcoin Continues To Rise!
Coinputin.com – Bitcoin (BTC), the largest cryptocurrency by market capitalization, also seems to be rising as traders get used to its $ 23k price. Bitcoin is currently trading at $ 23,400 and has seen a 4 percent gain in the past 24 hours.
Bitcoin’s 24-hour chart. Source: CoinGecko
That’s smaller than the daily increase that occurred earlier in the week. By the middle of this week, Bitcoin had risen by several thousand dollars to $ 23,642 on Wednesday. Last week, BTC posted a staggering 26% increase.
Earlier this week, Pedro Febrero, an analyst at Quantum Economics, said that when BTC reached $ 23,000, it would be a big sell-off and the price would drop to $ 19,000. The assumption, based on trading data, is that a large group of traders would think BTC was overvalued. But for now, such a wave of sales does not appear.
Litecoin is up 50 percent in a week!
Litecoin, the Bitcoin alternative developed by Charlie Lee, is up 52 per cent this week; the price of the coin, which circulated at $ 75 seven days ago, has risen to $ 115 today.
1 weekly Litecoin chart. Source: CoinGecko
The biggest gain for Litecoin, the fifth-largest cryptocurrency by market capitalization, came on Thursday, when the price jumped more than 20 percent. Today Litecoin is up 6.55% from its level on Thursday. Its market capitalization is $ 7.5 billion.
Litecoin saw renewed interest growth in September thanks to Litebringer, a blockchain-powered fantasy RPG game that allows players to trade in-game loot for LTC; daily transactions on the Litecoin blockchain reached about 165,000, but have since slowly declined.
Day-to-day trading rose to 71,000 from 58,000, with a slight jump on Thursday.
The cryptocurrency market continues to improve. Bitcoin is up 26 percent this week, Ethereum is up 17 percent, XRP is up 14 percent and Bitcoin Cash is up 20 percent.
The entire market capitalization for all cryptocurrencies has increased by 3.38% in the last 24 hours.
Litecoin is still a long way from its all-time high of $ 375.29, but the overall market, which looks lush, seems unlikely to hurt prospects.