All of the major cryptocurrencies are still green as the bull market is having a field day at the moment. The Bitcoin dominance has come down to 42.5% as most of the coins seem to be rising still even after Bitcoin’s hike yesterday. All of the major coins are breaking their respective resistances and are having a bullish trend of their own. The total market capital at 11:57 AM UST is at $325.682 billion and the experts are of the opinion that it will cross $500 billion by the end of this year. Cryptocurrencies are gaining worldwide popularity as each day goes by and since it is a decentralized system, there are no worries of a ban for cryptocurrencies. This is completely a democratic system where the power is with the people.
To give you a holistic picture of the current market trends operating in the cryptocurrency world, we, at AMBCrypto, are working incessantly to provide you with sentiments from around the world. This is done by interviewing a group of investors, miners, analysts, skeptics and influencers and including their valuable comments in this segment called sentiment analysis. This analysis focuses on the 5th most popular coin in the world and that is Litecoin [LTC].
Litecoin is definitely a coin with potential and in the future, we can expect it to emerge as a winner. At 12:15 PM UTC, Litecoin’s price was at $131.07 with a market capital of $7.348 billion. The coin has had a gain of 8.40% in the last 24 hours. The coin crossed the $130 mark and it appears to have stabilized. The coin was previously trading in the $120s and there was a sudden increase from $127 to $131. A break above the $135 mark will signal an uptrend. However, the resistance which was formed at $130 is broken and the buyers have to take it up further. The coin jumped 9.83% on Thursday to end the day at $129.53 which is the highest close since 4th April’s $134.01.
Benjamin Sanchez, a Litecoin enthusiast from Salo says:
“The major resistance at $130 has now been broken and it may lead to an upward momentum. The price is now testing the $135 level and if it is broken, we can expect a bull run for the coin. The coin broke above the mid-term downside trendline from the end of February which may signal that the coin has bottomed out.”
Judy Anderson, a Litecoin investor from Leeds says:
“People may have sold LTC to catch up some of the pump in other coins as LTC did not go up like the other coins. This, in my opinion is a bad decision to make. The future looks green for LTC as the coin has a target of $159.58 which is expected to be attained in the next two to three days.”
Thomas James, a financial advisor from Madison says:
“I looked at the charts and LTC is up for a recovery. It has regained its 5th spot in the rankings and it is doing well. It is truly marvellous that a coin without a mainnet is worth over $7 billion. LTC is the next cryptocurrency to fly. Don’t worry LTC holders, the rocket is just fuelling up.”
To conclude, 71% of Litecoin respondents are bullish and they expect the prices to go up even further. They feel that LTC is going to have a major bullish breakout in the next few days. However, a minor 29% feel bearish and say that it is better to invest in Bitcoin than in LTC as BTC price will rise while LTC’s will not.