Litecoin (LTC) has been struggling of recent to make gains as it wallows within the bearish mark in the crypto trading market. The coin has consistently suffered setbacks within the past month but has still retained its position in the top 5 list of largest cryptos.
This is partly due to the overriding effect of the current bearish trend affecting the crypto trading sphere. Also, the popularity of the coin ensures that the circulating supply remained constant during this period.
Litecoin (LTC) Recently Banned In Thailand
The recent announcement of the ban on the coin by Thailand Securities and Exchange Commission from ICOs, base trading of pairs and investment is a big blow for the coin. Thailand is one of the countries in Asia seen as a crypto friendly nation.
The regulatory body had earlier in February approved Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM) for operation within the country. It is expected that Litecoin (LTC) would be able to provide the necessary conditions required to be approved before the end of 2019.
Litecoin (LTC): Price Analysis
In the past 24 hours of the market, Litecoin (LTC) value has witnessed an addition of 6.7%, thus an edge for the altcoin looking to hit the $50 mark while others are barely finding track on the rising trend. Its current market price sits at $58.92 after a tremendous increase from its previous quoted range of $55.60 at the beginning of the last 24 hours.
The Greeny vegetative outlook from Litecoin (LTC) shows that it has found a solid traction on the rising trend, and there are signals that a more bullish trend may soon arrive irrespective of the market volatility. Previously, Today’s Gazette analysed the expected price levels anticipated for the coin based on its previous price level of $30.
According to the analysis Litecoin is projected to increase in price levels across different points in the next few weeks and could be valued within the region of $50 by the middle of March. This projected analysis is based on the past antecedents of the coin.
Litecoin (LTC) Looking Attain Fungicibility Amid Expectation Of Bullish Run
Litecoin (LTC) have been planning updates to its technology in order to make the blockchain more fungible and secured. This development is in line with the latest trend in the crypto space as more coins are looking to attain fungibility in 2019.
As one of the oldest and well-tested coins currently in the market, Litecoin (LTC) should be able to emerge from this current run and attain the $50 mark by the end of March.