Litecoin (LTC) has gone through a rough period in the last two months, however, touching a new low for the first time on November 15th going towards the value of $ 42 for an LTC.
The crypt saw the value of close to $ 42 in August 2017 before cryptocurrencies could go to their record prices in December 2017 and January 2018.
However, LTC was brought back to its initial price due to the latest market downturn which hit the whole market quite negatively.
While Litecoin has hit a new low, there is also the danger that LTC will go under the value of $ 40, suffers from circumstantial devaluation.
But, it may not be the case soon as Litecoin is showing some improvements in its value during the last 24 hours.
Litecoin scores a new low of $ 42: will Dip be further from that point?
Litecoin has lost its place in the fifth largest crypt months ago when EOS (EOS) skyrocketed to take its place in accordance with its market capitalization.
Later, we saw Stellar Lumen (XLM) perform a similar action pushing Litecoin even lower at 7th place at the top of the cryptocurrency list.
It seems that this case has interested investors despite active LitePay campaigns that promote the mass adoption of LTC as one of the fastest and cheapest means of payment inside and outside the blockchain space.
Litecoin seemed to be holding as well as allowed by the market, going back and forth between the value of $ 50 to $ 60, even exceeding the initial value of $ 60 for an LTC.
However, the dives had taken their toll so as to see LTC now tap a new low with a low probability of breaking the $ 50 resistance and going back to a more flattering value.
In addition, the market trends now seem more benevolent, so the dives are now on hold for Litecoin and its top-class colleagues, all except Bitcoin Cash, which is still falling at an accelerated pace.
Payments based on Facebook Messenger and Litecoin appear as "not sufficient" for a positive moment
Although Facebook Messenger is now allowing Litecoin payments to be conducted and done via this messaging application on one of the most popular social networks, it seems that Litecoin is not getting much friction from its end.
Being available to Facebook users who are now able to send and receive payments in LTC via Messenger, Litecoin is exposed to over 2 billion active users.
However, it seems that the idea that cryptographic payments are enabled through one of the largest social networks is not working in particular on its magic on Litecoin.
Litecoin (LTC) Price today – LTC / USD
Although the potential of this integration brings great chances also for Litecoin, the fact is not helping the recovery of Litecoin to a more flattering value.
After all, the negative market trend seems to be too strong to have been overcome with positive news at the moment, like having the LTC payments at your service via the messaging app on Facebook.
However, the market is showing clear signs of recovery on 16 Novemberth therefore LTC is seen at 4% with the latest changes in the market.