Litecoin (LTC) Overcomes The $50 Mark, Grows By More Than 20% In A Week

Litecoin reiterated itself this week: the authority of “digital silver” still remains on a high level. Despite losing 4th position again, the cryptocurrency finally broke the $50 barrier.

A revival of trading marked the middle of February 2019. Volatility and demand for digital assets returned to the markets again. Although a lot of markets are currently showing a bearish trend, Litecoin stands bullish in this regard and just keeps moving upwards. A good direction for a currency which was abandoned by many investors some time ago.

Over the past 24 hours, the Litecoin price has shown another bull run, which led to an increase of more than 5,5%. LTC has fixed at around $51.11, and it looks like it is not going to correct. Over the past seven days, the asset has grown by more than 20% — this is the second best indicator among the TOP-10 cryptocurrencies after EOS. Like most other markets, Litecoin’s total trading volume has increased significantly. Most trading takes place at OKEx and DigiFinex. According to News.8btc.com, the reason for the price spike may be a sudden demand from Chinese investors.

Considering all of the above, Litecoin is now one of the most promising markets, leaving the nearest pursuer Bitcoin Cash far behind.

Image courtesy of Oracle Times