Litecoin has been steadily declining since January 18, losing 28 per cent of its value since then.
The latest bearish move comes amidst a slump in Bitcoin, a positively correlated cryptocurrency with Litecoin. On the other hand, Bitcoin is driven lower by a tighter US monetary policy aimed to reign in the soaring US inflation.
Today, the Federal Reserve is expected to commit to a March rate hike at their FOMC meeting. Danske Bank analysts even expect the Fed to introduce quantitative…