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Litecoin Price Tumbles Below $80 After Suffering 10 Percent Drop

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    The total market capitalization of Litecoin is on the verge of dropping below $5 bln    

Cover image via 123rf.com

LTC managed to record stellar gains ahead of its ‘halving event’ that took place at the beginning of August. However, it now seems that the hype around the silver to Bitcoin’s gold has completely fizzled out.

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Litecoin Founder Charlie Lee Calls LTC ‘Great Store of Value’ Even Though He Got Rid of All His Coins

Litecoin Founder Charlie Lee Calls LTC ‘Great Store of Value’ Even Though He Got Rid of All His Coins

The cryptocurrency is shaping up to be one of today’s biggest losers inside the CoinMarketCap top 10 after witnessing more than a double-digit drop. At the time of writing, LTC is trading at $77.65.

Litecoin price graph
image by coinmarketcap.com

As reported by U.Today, Litecoin also had to battle with FUD after its founder Charlie Lee allegedly revealed that developers were not working on the project.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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