Litecoin Price Falls After ATH!

Litecoin price reached levels of $ 400 after the price boom in the cryptocurrency market and then declined.

Litecoin price is falls after ATH. Known as Silver Bitcoin, LTC climbed to the $ 400 level amid the price boom in the cryptocurrency market. Litecoin price climbed to an all-time high of $ 400. However, LTC is at risk of overheating. LTC set a new record in yesterday's transactions, climbing to an all-time high of $ 414 on Bitstamp. People who state that investing in Litecoin is very risky say that it becomes expensive in a very short time. The world's 10th largest cryptocurrency in terms of market capitalization has gained 215 percent in early 2021, rising from $ 124 to $ 413. A major rally has surpassed traditional markets for over a year now. Nowadays, many independent analysts predict that the movement will see $ 500.

Litecoin Price Action

This striking rise in the Litecoin market came after a wide movement in the cryptocurrency market. The competitors of LTC, ETH, XRP, Cardano (ADA) and Dogecoin have made significant gains. Noting an inverse correlation between Litecoin and Dogecoin, Jason Lau, business manager of OKCoin, a crypto service company, stated that the DOGE / USD rate dropped by 12 percent due to the increase in the LTC / USD rate. However, the Litecoin Dominance Index, which measures LTC's strength against the rest of the cryptocurrency market, climbed to 1.11 percent on Monday from 0.96 percent on Sunday. This reflects an emotional shift for Litecoin markets as other alternative cryptocurrency rallies are showing signs of cooling. Although Litecoin showed a large increase in transactions yesterday, it was affected by the cryptocurrency market, which took a negative atmosphere with the decrease in the US market in the evening. The leading cryptocurrency, Bitcoin, was withdrawn from $ 57,000 to $ 53,500 in the evening, with the S&P 500 losing 44 points and Tesla shares experiencing a great loss. Thus, other altcoins were also affected by this decline. Litecoin, which reached record levels yesterday, has lost 7.95 percent in the last 24 hours and is trading at $ 363,383 at the time of writing.