The latest price of Litecoin (LTC) is going through a difficult period once again. After hitting $ 64.42 last week, LTC suffered losses again. Most of these losses occurred on Friday afternoon, with the value of Litecoin falling below $ 60.
The news of Litecoin revolves around a delicate balance
This new price drop came when the currency lost momentum after reaching its maximum of three weeks. Saturday brought another price spike that managed to bring LTC back to $ 60 +, where it has remained since then. The fight continued for several days, including Sunday and even Monday.
Since the initial fall on Friday, most of Litecoin's news has followed the fight. Many have tried to predict where the currency could go from here. Some believe this is a beginning of a descending trajectory for LTC. Several pecks that Litecoin has already tested have not been very encouraging.
As always, there are optimistic coin holders who believe this is just a small bump on the road. They also claim that LTC will recover soon and will even reach $ 70. Whether this can actually happen or not, remains to be seen.
At the time of writing, Litecoin is in balance at $ 60.10, with a market capitalization of just over $ 3.5 billion.
The recent news of Litecoin bring a positive development for the currency
The current news of Litecoin is not very clear and most investors are waiting at their posts to see what happens next. Despite this, there have also been some positive moves in the last days. One of these includes the introduction of LTC to CoinText. This is a service that allows users to send different cryptocurrencies simply by using mobile numbers.
CoinText allows users to send Bitcoin Cash, Dash and even Litecoin, thanks to the recent decision. In this way, CoinText aims to allow cryptocurrencies to reach even more people in an easy and interesting way.
– CoinText (@CoinText) September 30, 2018
In addition to this, the recent Litecoin news also indicates that the currency has been added to an exchange called SFOX. This is an institutional level investment platform that is said to satisfy some larger investors. This includes investment professionals and even different institutions. The platform listed only three currencies before Litecoin was added.
Charlie Lee of Litecoin hailed the move and said that the partnership will increase Litecoin's liquidity. More importantly, it will expose LTC to institutional investors. SFOX is also supported by many known investors, which confirms the quality of the company, its team and its business model.
Of course, Litecoin has had several big moves in the last days. The new price fight will probably lead to an increase in money compared to the previous target of $ 64.42. At least, if optimistic predictions are to be believed. Judging by the new listings, there is certainly the possibility that these forecasts will be realized.
For the global insights that all crypts must have, ask for Elite membership!
Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Photo by Andreas Wagner on Unsplash