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Friday, February 23, 2018

Litecoin dives 20% - but will the release of LitePay send it soaring back up?

While pretty much everything took a dip over the last 48hrs, Litecoin was hit harder than most - dropping nearly 20%.

One big reason it lost more than others - it had recently gained more than others! 

There seems to be a psychological factor here, when investors are looking to pull back it's easier to justify taking some profits from something that just had big gains - and lately, the coin with big gains has been Litecoin.

Now the question is - will the release of LitePay, set to happen in just 3 days pull it out of trenches?

Well, wish I could give a solid answer on this - but best I can say is - that depends on how LitePay performs. (Read about LitePay in our previous article here

If it meets the hype, some pretty large gains could be expected.  If it doesn't function as promised, experiences any major downtime, or still has some bugs to be worked out - the disappointment could cause some who've held on steady to their LTC to sell.

There's no debate - next 5 days will be crucial for the coin, and it's investors are watching closely.

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Author: Mark Pippen
London News Desk