To put it straight forward and bluntly, the last 36 hours for the cryptocurrency world has not been so enjoyable. After seeing over a 50% increase in price Litecoin is down $50 USD compared to last weeks high of $250. Currently one LTC is $200 USD. Bitcoin is currently at $10,250 and down more than almost $1k since testing the $12k bound last week. Ethereum has also seem a few rough days in a row and now has dipped below $900 USD valuated currently at $870 USD.
With a lot of great news coming out of the Bitcoin and Litecoin Networks I believe this will be a short trip into red figures that we’re currently experiencing. It makes sense that some people took some profits the last few days since a lot of people are playing the short run game – day and swing trading. Personally, I’m not into trading and am a long term believer in the cryptocurrenciees and networks that I’m investing in, so these short term corrections are nothing too scary.
Segwit is being adopted by many of the exchanges now and that is great news for people that actually want to use the cryptocurrencies to buy things and not just speculation or a store of value use case. Coinbase and Bitfinex are just two of the major Exchanges that are going to adopt Segwit, Segwit will allow for cheaper fees and faster transaction times. Moreover, on the good news front – Litecoin’s Litepay is being released next week, February 26th and I look for an increase in price to occur in the coming days. (As always this is mere opinion and not investment advice, please do your own research.)
My name is R.L. Bryer and I go by the name Pittsburgh HODLr. I grew up in the United States and studied at The Ohio State University in Columbus, Ohio. There I studied English Literature & Economics. During University I developed an interest in Bitcoin and then Litecoin that turned into a passion for cryptocurrencies over the last 6 years. In 2012 I found out about Bitcoin and I devote much of my time to spreading the adoption of Bitcoin and Litecoin to help mankind.