Litecoin, literally the lighter version of Bitcoin, typically goes after its elder sibling very closely ter terms of price, but overheen the weekend, it attempted to pauze free from the ongoing bearish trend following news about two payment processors, LitePay and LitePal.
However, the surge, from around $150 to $175 proved short-lived and LTC price dropped back under $150 ter a few hours, and is presently trading under $135.
News about LitePay wasgoed published on the Express yesterday, with fairly a sensational title: &ldquo,Big Litecoin announcement &ndash, &lsquo,gamechanger&rsquo, LitePay to launch te days&rdquo,.
The publication quoted an analyst, lauding the development spil a major step for Litecoin, comparing it to the popular BitPay service, which permits merchants to accept Bitcoin payments without having to worry about exchange rates and liquidity.
&ldquo,Take note that BitPay is presently charging about $Five.00 transaction fees for processing Bitcoin transactions that take ages to confirm.
The best part is that Litecoin users will be able to convert litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments,&rdquo, the analyst wasgoed quoted telling.
Following the LitePay news, Litecoin creator Charlie Lee also Tweeted about another payment processor, LitePal, which is also aimed at facilitating merchants and can consequently increase Litecoin adoption.
Presently Bitcoin, and spil a result, the entire crypto market, is te a downtrend, with BTC pulling down from overheen $Ten,000 on February 1, 2018 to $7,900 very first, and then $7,542 following a geschreven surge back to $9,500.
Even however many ter the industry have bot predicting a surge back to previous heights, technical analysts believe the current correction may not be overheen yet and if Bitcoin proceeds to druppel below $7,000, the it might find support around $Five,000.
If Bitcoin resumes to slide spil expected, Litecoin will find it hard to stay afloat and wij may see it touching the latest $105 low once again, regardless of the latest news.
Please note that nothing te this article is to be construed spil financial advice. Neither the author strafgevangenis the publication takes any responsibility for trading and/or investment decisions you make based on information provided herein or anywhere else on the webpagina. Cryptocurrencies are very volatile and you should never invest more than you can cozily lose.
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