Litecoin (LTC) has been going through a bit of a rough time for the past couple of months, however, first touching a new low on November 15th by going towards the value of 42$ per one LTC.
The crypto saw the last of a close value to 42$ back in August 2017 before the cryptocurrencies were able to go for their record prices in December 2017 and January 2018.
Nevertheless, LTC was brought back to the initial price due to the latest market drop that affected the entire market in a rather negative way.
While Litecoin touched a new low, there is also a danger that LTC might go under the value of 40$, suffering from the circumstantial devaluation.
But, that might not be the case any time soon as Litecoin is showing some improvements in its value during the last 24 hours.
Litecoin Marks a New Low of 42$: Will it Dip Further from that Point?
Litecoin lost its spot of the fifth largest crypto months ago when EOS (EOS) skyrocketed to take its place in accordance with its market cap.
Later on, we could see Stellar Lumen s (XLM) performing a similar action pushing Litecoin even lower to the 7th spot on the top list of cryptocurrencies.
It seems that this case affected investors despite active LitePay campaigns promoting mass adoption of LTC as one of the fastest and cheapest means of payments in and outside the blockchain space.
Litecoin seemed to have to hold on well as much as the market trend allowed, going back and forth between the value of 50$ ad 60$, also going above the initial value of 60$ per one LTC.
However, the dips had taken their toll so LTC is now seen touching a new low with weak odds of breaking the resistance of 50$ and climbing back up to a more flattering value.
Moreover, the market trends now seem more benevolent, so the dips are for now on pause for Litecoin and its tip peers, all except Bitcoin Cash which is still dropping at an accelerated rate.
Facebook Messenger and Litecoin-based Payments Appear as “Not Enough” for a Positive Momentum
Even though Facebook Messenger is now allowing Litecoin payments to be conducted and made via this messaging application on one of the most popular social networks, it seems that Litecoin isn’t getting much friction on its end.
With being available to Facebook users who are now able to send and receive payments in LTC via Messenger, Litecoin is being exposed to over 2 billion active users.
However, it seems that the idea of crypto payments being enabled through one of the largest social networks is not working its magic on Litecoin in particular.
Litecoin (LTC) Price Today – LTC / USD
Although the potential of this integration carries great possibilities for Litecoin as well, the fact is not helping Litecoin rebound to a more flattering value.
After all, the negative market trend appears to be too strong to have been overcome with positive news at the moment such as having LTC payments at your service through messaging app on Facebook.
However, the market is showing clear signs of recovery on November 16th so LTC is seen up by 4% with the latest change in the market.