- Good news for Litecoin, Ethereum, and Tron, as they have started to recover.
- Decred coin, recovery seems more difficult, headed for a bearish year-end.
- Experts say, that it is bound to fall again in the near future and will continue on a bearish graph all year.
2020 has been a difficult year for cryptocurrencies around the world. While Bitcoin prices have embarked on a bullish run post-halving, other market leaders have struggled to get on their feet.
There is good news for Litecoin, Ethereum, and Tron, as they have started to recover and are looking at recovering lost ground by the end of the year. For Decred coin, though, it will be much more difficult to overcome the drop in prices and it looks to be headed for a bearish year-end.
Litecoin Bulls
Litecoin, like most other cryptocurrencies, experienced a steep drop of over 50% in prices in early March. After gaining some ground in the following days, it dropped by another 11% in the second week of May. However, this seems to be the last of the woes for Litecoin as Litecoin price prediction shows that it will continue to rise in the near future.
Multiple Litecoin forecasts today have also predicted a similar bullish growth pattern. Observers have reported that Tron prices follow Litecoin’s graph and have also passed the worst, after facing 54% and 14% drops in March and May. Predictions say that Tron has started to recover and will continue on an upward bullish charge till the end of the year.
Decred Losing its Pace
Decred coin has seen a growth graph since January that is very different from Litecoin or Tron. The Decred coin had been rising all through march and finally saw a 17% plunge on May 11. It has since recovered, but experts say that it is bound to fall again in the near future and will continue on a bearish graph all year.
While a bearish graph is less volatile and better for long term investments, a bullish growth pattern shows investors’ trust in the currency. Bullish currencies promise to earn more in the short term and can recover from price drops better.
Author: Umme Hanni
Read more at: https://www.thecoinrepublic.com/2020/05/18/decred-down-from-litecoin-ethereum-and-tron/
