It has been another disappointing day of trade in the cryptocurrency industry on Thursday.
At the time of writing the ten largest cryptocurrencies are all posting notable declines over the last 24 hours.
One of the worst performers has been the Litecoin (LTC) price. It is down over 7% since this time yesterday to US$204.46 per coin according to Coin Market Cap. This has reduced the popular altcoin's market capitalisation to approximately US$11.3 billion.
Earlier this week Litecoin founder Charlie Lee stated his belief that the cryptocurrency would overtake Bitcoin Cash (BCH) to become the world's fourth-largest cryptocurrency based on market capitalisation.
While this appeared to give it a boost initially and sent its price as high as US$233.90, since then it has given back all its gains and more.
The Bitcoin Cash market capitalisation currently stands at US$20.7 billion, meaning Litecoin will have to appreciate in value by over 83% to overtake it.
Whether or not this happens, only time will tell.
