LiteCoin had quite an impressive run over the past couple weeks, boasting more than a 60% increase. This was made all the more impressive by the fact that most of the other coins in the top ten range were stagnant at best.
This is even after the controversial LiteCoin Cash fork, which happened despite the strong objections of Charlie Lee, the founder of LiteCoin. He went as far as to tweet out that LiteCoin Cash was a scam and that it should be avoided. Of course, forks are an ongoing issue throughout much of crypto, and they are almost impossible to control.
Forks can sometimes cause a crash in price as it introduces some additional uncertainty. In this case, however, LiteCoin performed very well in the days following the split.
Over the past couple days, however, things have been taking a strong turn for the worse. It has dropped from a high of nearly $260 down to its current levels of around $188. This could mean trouble for the coin since it had so much negative news and other issues in the past few weeks that it all seems to be catching up with it.
Of course, this won’t be the end of LiteCoin. This has long been one of the most popular options out there, offering some stability compared to many other coins. In the past month or two, however, there has been unusually large swings for this coin, which can make it less predictable for many buyers. This is certainly a coin to be careful with over the coming days and weeks.
