Could LTC Ever Recover?
Litecoin is on a recent high after it has taken a hike to the $60 + levels. Despite this, it still has to reach the levels of above $100 as seen earlier this year. Following the promising developments coming out of the Litecoin space, one question keeps cropping up to the followers of the cryptocurrencyâ¦
Could LTC ever recover?
Recent news in the market for Litecoin shows an introduction for the coin to CoinText. The CoinText service allows users to send cryptocurrencies like Dash, Bitcoin Cash and now Litecoin to a mobile number. The product is set to make digital currencies available to the everyday mainstream.
If you do choose to invest in Litecoin, or have already invested then remember that this is not investment advice. You should use this to formulate your own research in order to determine how you believe Litecoin will perform. Whilst the âexpertsâ may assume that Litecoin is falling, the opposite could happen. The markets are volatile and therefore your research is a vital tool. Always remember to trade safe.
Vin Armini, the CEO of CoinText spoke on the matter and said:
âCoinText makes sending cryptocurrency as easy as sending a text message. Itâs a powerful tool for communities to spread adoption of their cryptocurrency.â
Litecoin has also been included on an institutional-grade investment platform. The exchange is known as SFOX which aims to provide to big investments such as companies and professional traders who work in high volume.
After the addition of the Litecoin to be forth digital currency on the platform, the creator of Litecoin, Charlie Lee spoke out saying:
âThis partnership provides increased liquidity and institutional exposure for Litecoin. SFOX is backed by several well-known investors, which speaks to the companyâs business model and team.â
The move means more people in the mainstream will be driven to the coins attention. The social media campaign #PayWithLitecoin is also spreading awareness of Litecoin.
Does this mean Litecoin could see a recovery?
This obviously depends on a number of different factors. A Bitcoin rally for example would be sure to help cause a spike in the value of Litecoin. Further development from the Litecoin Foundation too will aid a recovery. The question is however, will the rest of the markets allow Litecoin to ever see itâs all time high again?
What do you think? Let us know what you think down in the comments!