For Litecoin (LTC), the first quarter of this year and most of the second quarter became terrible, as well as for most of the top cryptocurrencies. When the price of the coin began to depreciate at the beginning of the year, many people considered it quite a normal pullback after taking a huge peak at the end of last year.
This time the bearish trend line “slightly” dragged on. Sometimes, the cryptocurrency acts as if it were initiating a bullish movement, but in the end we see only a significant decrease than it was before. This caused many holders to lose interest in LTC and started selling coins at a loss.
Nevertheless, given the factors that are currently playing, Litecoin can lead the best days. Due to some important factors, the cost of LTC is expected to increase again in the near future.
Litecoin in the oversold zone
According to experts, Litecoin has now entered the oversold zone. The value of LTC declined sharply, we see so many panic sales and excessive market volatility. Almost all LTC owners are considering selling. In the financial market, when the asset penetrates deep into the oversold zone, it’s expected that the value of the asset will recover in the shortest time.
The zone of oversold only waits for a short period before the market breaks down, and bullish forces overcome the bearish trend. Perhaps the push willn’t return the value of LTC to the highest peak of the price, but it significantly stimulates the coin to gradual growth.
Listing Litecoin (LTC) on itBit
itBit is one of the trading platforms for cryptocurrencies, which are regulated by New York Department of Financial Services (NYDFS) for trading in digital currencies in the US.. Proceeding from the fact that this platform is a regulated exchange, it’s expected that it will attract a large number of investors.
The recent itBit solution to include Litecoin (LTC) in its exchange listing, as we assume, contributes to the rise in price of Litecoin, which coin fans are eagerly waiting for.