LITECOIN succesnummer its lowest value te three weeks after a promising few days ter which the digital currency seemed to constant itself. But why has the price of Litecoin fallen today? Will it go back up?
The world&rsquo,s fifth-largest cryptocurrency plummeted to $160.43 at 6am, its lowest price since February 13 when it wasgoed $158.50, according to CoinMarketCap.
Albeit it rose to $176.13 at 1.09pm, the digital token still down Five.03 procent overheen the last 24 hours, spil of 1.32pm.
The losses mirror other cryptocurrencies which are all experiencing widespread declines, with every major player presently te the crimson.
Why has the Litecoin price fallen?
Cryptocurrencies, including main rival Bitcoin, fell this week after the US Securities and Exchange Commission (SEC) warned current trading wasgoed ter dire need of regulation.
Ter a statement on March 7, 2018, the SEC said: &ldquo,If a podium offers trading of digital assets that are securities and operates spil an &lsquo,exchange&rsquo,, spil defined by the federal securities laws, then the podium vereiste register with the SEC spil a national securities exchange or be exempt from registration.
&ldquo,The federal regulatory framework governing registered national securities exchanges and exempt markets is designed to protect investors and prevent against fraudulent and manipulative trading practices.&rdquo,
Bitcoin tanked te price – below the $Ten,000 mark – for nine days after the announcement and proceeds to fight amid pressure from Japanese and US regulators following a series of cyber attacks which stoked fears about crypto asset security.
Coin Desk writer Omkar Godbole said the bull run for Litecoin has &ldquo,faltered&rdquo, since last month&rsquo,s Litecoin metselspecie hard fork but the general market downturn wasgoed to blame.
Litecoin price druppel: Why has Litecoin price fallen?
He wrote: &ldquo,Subsequently, LTC witnessed its price range narrow, forming a series of lower highs and higher lows, which ended with a downside pauze yesterday [Tuesday].
“The druppel to 12-day lows seen today is largely ter line with the weakness seen te the broader market, however.&rdquo,
Ripple&rsquo,s managing director exclusively told Express.co.uk little ripples te the financial markets always reverberate via the crypto space.
Meantime, FXStreet writer Tanya Abrosimova said Litecoin does not show up to be immune to the pressures of &ldquo,bearish sentiments on the crypto markets&rdquo,.