Litecoin is making a major move on the digital currency marketplace in this week. Despite some of the bad news that has plagued the cryptocurrency in the last few weeks, it seems to be making a great recovery. In the last 24 hours, Litecoin has jumped more than 8 percent and there seems to be plenty of support for that. Ranked #5 on the list on CoinMarketCap.com, Litecoin has a bit of a gap to clear for the #4 spot, but moves like this are certainly going to help.
Litecoin Price Upward Trend Continues
Over the last 7-days, Litecoin has seen some major moves in the overall price and market cap. Just last week, the coin price was sitting at around $125 and now that price seems to be in the rear view as it just keep climbing. Experts are still sitting back to see where this all goes, but as the price goes passed $135 per coin, there seems to be plenty of support.
Recent news indicated that Litecoin has a great future and even though it dumped projects like LitePay, the road map is clear and now it comes down to execution.
Bitcoin Price Helps All Cryptocurrencies
There is always something to say about Bitcoin as it was the first real digital coin to take off and make a name for itself based on value alone. That being said, just about any time that you see the price of Bitcoin make a move, the rest of the cryptocurrency market follows along.
Sometimes the prices for others coins, like Litecoin (LTC), do not follow exactly, but you will see the market move similar to Bitcoin. That is so much so that most graphs that you see posted online will have the price for a virtual coin like Litecoin, compared to the price of the Bitcoin (BTC).