GoodMorning #Steemfam!
Litecoin has dropped 10 percent in 24 hours after Bitcoin’s fall saw the altcoin pass the $50 mark for the first time.
Litecoin, which less than a week ago was worth $29, gained rapidly as Bitcoin showed signs of weakness again, but Wednesday saw the pair’s fortunes reverse.
Commenting on the performance, entrepreneur Tuur Demeester reiterated his theory that Litecoin was used as a go-to Bitcoin “hedge” for investors.
Bitcoin’s new climb comes as the community becomes more convinced that SegWit will activate on the network in the near future.
The price per coin increased north of $2,700 in the 24 hours to press time, while the majority of altcoins have since followed Litecoin downhill
In particular, Dash and Ethereum (ETH) posted similar losses, while Ethereum Classic also came off recent highs to see its market cap dip below the $2 bln mark.
Demeester added the broad downtrend could take away from Litecoin’s presumed role, subsequently noting he “may have been too quick to judge.”
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https://cointelegraph.com/news/litecoin-leads-altcoin-retreat-as-segwit-optimism-grips-bitcoin-again
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lol @ the robot comment, I am no robot just passing through good post man!
~Nameless Creator
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Agreed with the robot!
Thank you!
#steemfam
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Id have to think after the flash crash yesterday, a lot of crypto newbs couldn't wait to pull their money out of the exchanges. Im not about to pull out, but I can tell ya Im beyond done with coinbase and the convenient "technical difficulties", only when the value of coins is plummeting. Never happens when the price is going up.
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Completely agree. May tell you something about thier supply on hand.
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