Litecoin (LTC) has been dealing with a very rocky month in regards to price points and being able to keep the bad news to a minimum. Recently, it was announced that Litecoin was not going to continue work on a payment solution and a debit card, called LitePay, and that might have sent the digital currency into a tailspin. Almost dropping to $100 per coin, investors were worried how low it would go if it hit that mark. The coin has since recovered.
Litecoin Hopes LitePal Is The Answer
Even though Litecoin has scrapped plans to move forward with a debit card and payment solution, that does not mean there are not projects still in the works. LitePal is still out there and is accepting registrations right now, according to online reports. Recent reports indicate that the overall price is set to settle in around the $130 mark even after an accidental promotion by John McAfee on Twitter.
LitePal is looking to earn the trust of users and investors are sitting back to see how things play out. The fall of LitePay and the development of TenX has been part of the news cycle for Litecoin over the last few weeks and the price is certainly showing how investors feel about that.
Litecoin Foundation Issues Warning To Investors
Just like it did a few months ago, Litecoin has talked again about how the price could dip very sharply before it takes off into the green zone. Earlier this year, Litecoin (LTC) was supposed to hit the $500 mark, but instead it dropped to almost $100 in February and that startled plenty of investors.
The coin peaked at just $370 per coin, which is shy of the $500 prediction it was getting from experts, but there is a good chance it will hit that again. Investors are timid for Litecoin now as cryptocurrencies like Cardano, Ripple and Stellar are all performing very well.