Below $50: Litecoin Price Clocks 12-Month Low

The price of litecoin (LTC) hit a 12-month low below $50.00 on Wednesday.

The world’s seventh largest cryptocurrency by market capitalization sank to $47.67 at 10:34 UTC – its lowest price since September 22, 2017. LTC was last seen at $49.08, down more than 8 percent on the day, according to CoinMarketCap.

Below $50: Litecoin Price Clocks 12-Month Low 1

Notably, LTC is the second biggest loser among the top 10 cryptocurrencies by market cap, reporting a 22.5 percent loss week-on-week. Further, it is down 86 percent from its all-time high of $344 set last December.

Other cryptocurrencies are also reporting sharp losses today. For instance, ether (ETH), bitcoin cash (BCH) and monero (XMR) are all posting 24-hour losses above 9 percent. Meanwhile, Stellar lumens (XLM) is currently the only cryptocurrency out of the top 50 showing a 24-hour gain, albeit a meager one of 0.02 percent – likely based on positive news flow in recent days.

The risk aversion is likely associated with bitcoin’s (BTC) 15 percent week-on-week drop. The leading cryptocurrency’s current price of $6,273 is just around $400 away from setting a new low for the year, which if surpassed, will likely drag down the rest of market with it.

Looking forward, LTC may witness a minor corrective rally, since the relative strength index is reporting oversold conditions. However, if BTC fails to achieve a chart-indicated recovery, then the relief rally may not materialize.

Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.

Litecoins image via Shutterstock

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bitcoin
Bitcoin (BTC) $ 61,305.00
ethereum
Ethereum (ETH) $ 3,842.30
binance-coin
Binance Coin (BNB) $ 473.88
cardano
Cardano (ADA) $ 2.23
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.14
solana
Solana (SOL) $ 159.52
polkadot
Polkadot (DOT) $ 44.14
usd-coin
USD Coin (USDC) $ 0.999364
dogecoin
Dogecoin (DOGE) $ 0.238535
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 61,305.00
ethereumEthereum (ETH)
$ 3,842.30
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 630.49
litecoinLitecoin (LTC)
$ 190.14
bitcoinBitcoin (BTC)
52.799,85
ethereumEthereum (ETH)
3.309,24
tetherTether (USDT)
0,861265
bitcoin-cashBitcoin Cash (BCH)
543,02
litecoinLitecoin (LTC)
163,76
bitcoinBitcoin (BTC)
44,752.96
ethereumEthereum (ETH)
2,804.90
tetherTether (USDT)
0.730005
bitcoin-cashBitcoin Cash (BCH)
460.26
litecoinLitecoin (LTC)
138.80

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin61,775 0.77 % 4.28 % 14.37 %
Ethereum3,864.7 0.89 % 0.81 % 8.60 %
Binance Coin477.19 1.25 % 0.24 % 14.07 %
Cardano2.240 0.92 % 2.25 % 0.36 %
Tether0.9986 0.03 % 0.08 % 0.23 %
XRP1.140 0.58 % 0.40 % 7.54 %
Solana160.24 0.93 % 6.44 % 0.83 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2402 1.02 % 2.18 % 1.15 %

bitcoin
Bitcoin (BTC) $ 61,305.00
ethereum
Ethereum (ETH) $ 3,842.30
binance-coin
Binance Coin (BNB) $ 473.88
cardano
Cardano (ADA) $ 2.23
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.14
solana
Solana (SOL) $ 159.52
polkadot
Polkadot (DOT) $ 44.14
usd-coin
USD Coin (USDC) $ 0.999364
dogecoin
Dogecoin (DOGE) $ 0.238535