Leaving behind a very price tanking and struggling to-hold ground week, for the near term it seems the market has recovered from the rumors and its on the right way of upward continuation.
Bitcoin is still very war from its highest mark last reached of close to the $5,000 mark, however many see this as a golden opportunity to get their hands on BTC because it could be a rare case of such a dip. On the other hand all other leading virtual currencies at the top of the list are showing quite some optimistic steps for more gain, Litecoin specifically is having the best momentum of the top-ten by market cap.
The Silver Coin Recovering with Stable Steps
The correction after the major increases reaching all-time highs should be acknowledged by any trader and investor but with the market volatility recently many agree that its not a positive signal. However, we have to keep in mind that the cryptocurrency market is very well known how swiftly and easily prices can rebound, recover and return despite the news that could change the community confidence or the market structure.
When it comes to Litecoin, things are looking better than expected. This week started with a strong 5.73 percent gain in the last 24 hours, which would make LTC the best performing after the last market declining of the top digital currencies. This brought Litecoin back to the race hoisting it up over the major psychological mark of 65$ (time of press – $66.09). The surge is also noted on the BTC market with 4.22% in the last day.
Having in mind that the Chinese market plays a major role on the LTC price changes and on the whole market it should be worth to notice if the exchanges based there are still playing any role or not. While knowing that if in case the latest rumors are true for the Chinese GOV to ban bitcoin and crypto exchange altogether than the LTC market there could be drying up. However things are looking very differently today – Monday Sep 11.
OkCoin.cn is leading with $113 million trading volume in the last 24 hours dominating the complete LTC market for a strong 24%. Then following Huobi with 19.00% and so on. This clearly signal no cryptocurrency exchange ban in the near term at all – According to Coinmarketcap.
Even that the price is around $5 lower in value in Chinese exchanges, the above mentioned data is showing how much does the market in the particular country effect the price. If the ban happens, investors will be liquidating their assets which would not be looking good at all for The Silver Coin.
The Altcoin and the future network developments are looking better than ever before, so in the long term it could be better than what we expect. In the same way that Litecoin is showing us right now.