The beginning of this year has been almost an epic for cryptocurrencies, most of them arising during the first days of January. However, one of last year's favorites remained asleep and even fell a bit while the rest was on fire. Litecoin has finally awakened during the Asian negotiation session this morning and once again is heading up.
Like many of his brothers, Litecoin LTC had a great year in 2017, starting at around $ 4 and steadily climbing more than ten times to reach a stability of around $ 50 where he stayed for several months. In November he rose again to the $ 100 level where he again stopped for a while. Between December 8 and 13 Litecoin went parabolic and jumped to $ 340, hitting a record $ 375 a few days later.
Since those dizzying days, the Altcoin has fallen from grace in a downward trend for three weeks to lows of just over $ 220. The news that founder Charlie Lee had sold all his LTC properties left the community with a taste sour. The Hodlers began to worry as all the other Altcoins were making upward movements and Litecoin was falling behind.
The price of the LTC was overwhelmed by a Tuit Charlie Lee public, where he said that, if a person was not ready to lose 90% of investment, you should not invest in Litecoin. Then the news that the creator of LTC had sold all his cryptocurrencies, creating an environment of instability.
Things started to change this morning during the Asian trading session when LTC broke its weekly resistance level of $ 255 and skyrocketed in a couple of hours to just over $ 300. Litecoin has finally woken up from its dream to break $ 300 again for the first time since December 22. The majority of operations have been in the Hong Kong OKEx exchange in Bitcoin Cash, followed by GDAX and South Korean Bithumb.
Charlie Lee continues to praise his spoiled and tweeted this today in reference to the transfer volume;
The news that the Japanese entertainment giant DMM released the details of a cryptographic exchange that will be launched next month could have boosted the investment in Litecoin, since it will transport 7 coins of which LTC is one.
Litecoin currently has a 21% increase in the day, its market capacity is $ 16 billion and it has lost a couple of points in the Cardano tapas list (ADA) and the recent Ripple increase. If the impulse continues Litecoin could reach its previous maximum and even continue to $ 400, where it is likely to raise those tables again.