Litecoin rebounds from two-week trough to past $30

Views: 140
Litecoin rose over 2%, or $1 on Thursday off November 25 lows, when it marked 17-month lows back then, amid limited short-covering operations currently.

As of 05:42 GMT, Litecoin rose 2.53% to $30.001, with an intraday high at $3.119, and a two-week low at $28.00.

The Group of 20 has pledged on Friday after the Argentinean summit to regulate crypto trading in order to combat money laundering and terrorism funding.

Last month, International Monetary Fund head Christine Lagarde suggested on global central banks and their respective governments the possibility of issuing their own digital currencies to make them more stable and controlled and accessible for all sectors instead of the current mayhem in that market.

Lagarde believes that payments through digital currencies would be instant, safe, and cheap, and while they would be anonymous, central banks will keep a database of all payments, cutting out fraud and money laundering operations.

The Path of Litecoin

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher.

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, before marking 17-month lows on November 25 at $27.726.


Comments: 0

Your email address will not be published. Required fields are marked with *