BTC - Litecoin Gets a Second Wind Heading Into 2023
Like most cryptocurrencies, Litecoin (CRYPTO: LTC) took some drastic price cuts in the first half of 2022. As investors and regulators struggled to manage an inflation-soaked global economy, the Litecoin token fell 64% between the New Year and the end of June. That correction was a bit sharper than Bitcoin 's (CRYPTO: BTC) 57% price drop and far behind TRON , which only fell 17% lower in that period.
But it was too early to count Litecoin out in the middle of summer. The cryptocurrency has staged an impressive comeback in the second half of 2022, gaining 18% since June 30 while Bitcoin, TRON, and Solana (CRYPTO: SOL) saw additional price cuts instead, ranging from 17% to 65%.
Here's how Litecoin pulled off its recent rejuvenation while the crypto market as a whole continued to struggle. This performance also holds some clues about where Litecoin might go in 2023.
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Litecoin Gets a Second Wind Heading Into 2023