La Cartita (01/31/2018) --- As Bitcoin $BTC falls to under $10,000 per unit, the faster upgraded version Litecoin $LTC rises to slightly $166 per unit during morning trading. The valuation of Litcoin rose to $166 after huge dips due to Korean regulators forbidding anonymous trading. Underage individuals could no longer trade, bank accounts and crypto wallets must also have identical names under the new regulatory framework.
However, Litecoin continues to be used and accepted as a portable, fast currency in airports, stores and online casinos. Litecoin was previously priced at nearly $178 per unit prior to the announcements. Fundamentals on use and security remain in place, however, with market experts recommending buys.
Mass Market Pulls Back
The new South Korea regulations are encouraging new time users to pull back their funds from crypto. Bitcoin functioning like a store of value and driven by speculation on new records for their price being established has been the most affected. Litecoin's integration of Segregated Witness and possible merge with Monero has held the value of the coin stable and, at times, pegging upwards as other cryptocurrencies struggle.
Facebook Bans Crypto Ads
Litecoin was affected also by Facebook's announcement on ads directly marketing the purchase of Initial Coin Offerings (ICO) for new, less reputable cryptocurrency. The ICO announcements were found to operate coin exchanges in bad faith. Individuals were being asked to dump retirements or life savings in exchanges that did not actually contain legitimate math based currency, and, instead, operated like ponzi schemes and outright wire fraud operations. The effect is expected to be temporary as legitimate operators wrestle with Facebook's new ad rules.