Published on October 12th, 2017 | by bitcoin0
Litecoin’s September plunge slows in October
As litecoin support struggled, bitcoin seems to have benefitted from the rotation out of ether and ethereum-based tokens, triggered by fears of China-like ICO restrictions in other jurisdictions.
Against the U.S. dollar, litecoin is now down by more than $40 from its record high of $98.28, achieved on September 1.
Further, the litecoin-bitcoin (LTC/BTC) exchange rate fell from 0.019 BTC (September 2 high) to 0.0098 BTC this week.
Week-over-week, the pair is down 13.22 percent, while on a monthly basis, it is nursing a 34 percent loss.
However, price action analysis suggests that the LTC/BTC pair could be nearing a bottom.