Charlie Lee’s creation has been somewhat of a disappointment for holders and traders in 2019 since many expected it to rally after the halving that took place on August 5. LTC had a nice run throughout the spring/summer of 2019, which coincided with the minor upward trend within the entire cryptocurrency market. However, instead of the expected consolidation period and a subsequent continuation of price growth, Litecoin has had a harsh correction, with bears dragging the price to $37 from the yearly high of $144. Therefore, Litecoin had ended the year 2019 less than $6 higher than it began the rally - a totally different scenario from what various experts had been preaching during the pre-halving hype.
So the real question with regard to Litecoin is the following: would the Digital Silver be capable of recovering after such an intense and prolonged pressure from the bears and become one of the most attractive cryptographic assets again?
Losing positions in the ranks
To make matters worse, LTC began sliding down in the Coinmarketcap ranks being pushed over by the likes of Bitcoin Cash, Bitcoin SV, and USD Tether. At the time of writing, Litecoin was even briefly overpowered by EOS and descended even lower, to the 8th position in the global ranks, although it regained its place shortly afterward.