A famous gold bug Peter Schiff criticized Bitcoin for 48% collapse from 2019 high and compared the digital gold with the precious physical metal. According to the head of Euro Pacific Capital, gold has lost only 3% from the 2019 peak, while Bitcoin is down nearly 50%.
ETH/USD hit the low at $116.4 on December 18 Monday and managed to recover to $138.00 by December 29; however, the further recovery seems to be limited as the coin retreated below $132.00 by the time of writing.
Once $138.00 is out of the way, the price is likely to retest psychological $140.00. The critical resistance is created by the upper line of the daily Bollinger Band at $16.50 and SMA50 (Simple Moving Average) daily at $148.00.
Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $2.7 billion, has lost 3.5% in recent 24 hours. At the time of writing, LTC/USD is changing hands at $42.20 amid low trading volumes.
Litecoin is moving in lockstep with the rest of the market, which makes it vulnerable overall bearish sentiments. The coin may continue the range-bound trading with the downside bias into the New Year.
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