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Litecoin’s Charlie Lee conducts price poll at LTC’s 5.50% hike

Priyamvada Singh



Litecoin's Charlie Lee conducts price poll at LTC's 5.50% hike
Source: Pixabay

The LTC price finally took a hike and gained a plus of 5.50% this week. The creator of Litecoin, Charlie Lee, on July 3rd took to Twitter to conduct a price poll asking if LTC is ‘back to a bull market’ or ‘the worst is not over’.

Charlie Lee's price poll

Charlie Lee’s price poll | Source: Twitter

Many are speculating that the worst is indeed not over, as they are expecting a high selloff rate of Litecoin from India. This is due to the onset of the ban imposed on crypto exchanges by the Supreme Court of India, after a hearing took place on July 3rd, concerning RBI’s restrictions on the same.

During the past week, LTC has seen a decent amount of fluctuations in its price. At the beginning of the week, LTC was trading at $81.12 but took a dramatic fall to land at $75.91 just in a day. Again on July 2nd, the price touched a height of $86.05, fluctuated slightly lower, and jumped back up to its week-peak of $88.77 today, on July 3rd.

LTC weekly price chart | Source: coinmarketcap

LTC weekly price chart | Source: CoinMarketCap

At the time of writing, Litecoin is trading at $86.43 with a market cap of $4.9 billion. The current change in its price is 4.55% with a 24-hour trading volume of over $363 million.

EJ_Crypto, a crypto trader and enthusiast, stated:

“Even if the market has turned bullish its not going to be a smooth ride straight to the moon.
And I don’t think most people are prepared for this.”

Another Twitter user and Litecoin follower, g-e-n-e-r-a-l, also said:

“We may uptick for a while but a true bull market will only occur with some significant positive news.”

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.