Just like many other cryptocurrencies, Bitcoin, as well as Litecoin, currently sit in vitality as much as the market is concerned. Will Bitcoin and Litecoin recover as much as many have been speculating? Apparently, it is hard to tell how the investors will react to all these recent events.
When looking at the current trend of the volatility of Litecoin and bitcoin prices in US dollars, it is quite clear to note that there is a decrease in volatility. The price of bitcoin stands at $6,574 with a slight change (24h) of +0.06%. On the other hand, Litecoin is trading at $53.94 with a difference (24h) of -1.45% at the press time. Basically, at the moment there isn’t a significant downward movement between the two cryptocurrencies.
Spectators Never Fail to Give Reasons
As always many spectators will seek to give some reasons for the trends and some think that the downward move is just a manipulation by some small group so that they can outscore the stock market. Perhaps, it is a bear market, and with the volatility of the coins being technically low, it means it is cheaper, which is definitely better.
The Real Meaning
What the trends literally mean is that there is an accountable resistance with both Bitcoin and Litecoin contrary to the expectations of many who were anticipating at least some positive movement after the sharp market rise last week.
However, that doesn’t mean that there won’t be a breakout any time soon. There are always two options for investors to make money; short-term or long-term; hence, the opportunity is still there if one has the right mindset.
Litecoin price chart | Source: Coinmarketcap
The patterns in the Bitcoin and Litecoin charts do show that we are getting out of the bear market and probably heading into the accumulation phase. Although for the next week it may still be at the bottom, expectedly after that there is every possibility of a bullish breakthrough. At that point, we’ll have Litecoin retracing higher to key resistance at around $60.
At low volatility, it can be hard to predict the prices of the cryptocurrencies, but at the moment we can deny the fact that there is a chance for a surge in Litecoin and Bitcoin price in the crypto market shortly. As at any given stage in the crypto markets, time will be the real decider.
But yeah, the low volatility of Litecoin and Bitcoin is trying to make us aware of something vital. The cryptos might be just around the corner to breakout if they remain less-volatile and stable for some time now.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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