Cryptocurrency litecoin falls 10% after payments processor LitePay closes We got too excited coin founder says
"Cryptocurrency litecoin falls 10% after payments processor LitePay closes We got too excited coin founder says - Cryptocurrency litecoin falls 10% after payments processor LitePay closes We got too excited coin founder says"
what is this all about? See below.
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Sentiment Trader told ==> our VIP MEMBERS here <== that Litecoin dropped roughly 10 percent lower near $145 as of 4:08 p.m. ET, according to CoinMarketCap.
Litecoin Foundation, a nonprofit for advancing litecoin and an investor in LitePay, said on its website that LitePay CEO Kenneth Asare informed the organization a "couple days ago" that "he has ceased all operations and is preparing to sell the company."
"I am sorry for having hyped up this company and vow to do better due diligence in the future," the ceo of LITECOIN said.
When you look at the LTC daily chart, you can see we are nearing a make or break area, on a symetrical triangle pattern, so we would expect a larger move sooner or later as the triangle gets closer and closer to resolving itself.
LTC watch -- See the chart below....
Our Members here => VIP members here were told that In February, Asare said in an email to bloomberg that his team has been working on development since the summer of 2017. "Our goal is to create a way for merchants to earn Litecoin, which is a particularly good cryptocurrency for payments," he said.
Asare did not immediately respond to a CNBC email for comment Monday. The company has gone sour. But there are more developments for LITECOIN in the middle of this year.
Litecoin is the fifth-largest cryptocurrency by market capitalization at $8.1 billion, according to CoinMarketCap. Its declines Monday came as other cryptocurrencies also fell. Bitcoin dropped 7 percent to below $8,000.
"Litecoin was doing perfectly fine before the promise of LitePay so its like someone has pushed on the breaks here, but there is nothing to panic about yet.
U.S. regulators and companies have taken steps in the last few months to crack down on fraudulent activity in cryptocurrencies. The U.S. Securities and Exchange Commission has frozen the assets of those involved with some token sales, and Texas has issued several cease-and-desist orders on cryptocurrency companies. On Monday, Twitter followed Google and Facebook in announcing a ban on advertising for cryptocurrencies.
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