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A lot of people would assume altcoins to gain in value once they have recovered from the current Bitcoin price action. It is unclear when that will happen exactly, though. Things are not looking all that great for the Litecoin price right now, that much is evident. Despite a push to $54.43 less than a day ago, the price reversed to $48.7 all of a sudden. It will be interesting to see what this Litecoin price momentum brings in the coming days.

The Litecoin Price is a Rollercoaster

It is evident the cryptocurrency markets will go through a very volatile period over the next few hours and days. Every time the Bitcoin price goes up in a significant manner, altcoins will tend to suffer for an extended period of time. Right now, most alternative currencies are trying to keep losses to a minimum, but that is a lot easier said than done under the current circumstances. Litecoin is doing a good job, though, as the Litecoin price has “only” dropped by 3.23% in the past 24 hours.

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That being said, any sort of loss during this current Bitcoin price trend is to be expected. While a lot of altcoin supporters may not necessarily like to see this happen, it is something no currency can escape right now. The Litecoin price is still sitting at $50 or slightly above that price, even though many enthusiasts would have expected it to be well above $75 right now. That may still happen, though, depending on how the markets evolve in the next few days and weeks.

For the Litecoin price, the past week has been filled with both hope and despair accordingly. The week started off great with a quick rise to $52.5, although it didn’t last long. Despite two brief dips, the price eventually surpassed $54, which was considered to be a rather positive sign. For some unknown reason, people started pushing the Litecoin price down to $48.7 all of a sudden, although the dip was bought pretty quickly.

With the Litecoin price now hovering around $50, it will be even more interesting to see what the future will hold. One thing worth keeping an eye on is the Litecoin trading volume, as it is anything but spectacular right now. More specifically, with just $147.35m over the past 24 hours, Litecoin is seemingly struggling a bit.

With the Chinese exchanges almost out of the picture, this lower volume is to be expected, though. Litecoin’s current biggest markets are GDAX, Bitfinex, and Bithumb. It is interesting to see GDAX at the top of this list for a change, as their LTC/USD trading pair brings in $22.36m. A positive sign, though, as it shows the Litecoin demand is strong in the fiat currency markets right now.

Although the Litecoin price is lower than it could – or perhaps should – be at this rate, there is no reason to grow concerned just yet. Good things will come to those who are patient. Unfortunately, patience is difficult to come by in the world of cryptocurrency these days. In a few days or weeks from now, people may look back at the LTC price of $50 and wonder why they didn’t buy more.