Litecoin drops 1%, resuming last week's losses

Litecoin fell on Monday, resuming the losses of last week when it plumbed June 2017 lows before climbing yesterday for the first session in five on limited short-covering after a violent selloff wave for the crypto market. 

As of 05:59 GMT, Litecoin shed 1.03% to $25.776, with an intraday low at $25.408, and a high at $26.469. 

Litecoin marked the fourth weekly loss in five last week, while plumbing 1-1/5 year lows on Friday amid a crypto selloff storm that forced Litecoin into its seventh monthly loss in a row in November, the longest such streak of losses since the first half of 2015. 

The Group of 20 has pledged earlier this month after the Argentinean summit to regulate crypto trading in order to combat money laundering and terrorism funding. 

Last month, International Monetary Fund head Christine Lagarde suggested on global central banks and their respective governments the possibility of issuing their own digital currencies to make them more stable and controlled and accessible for all sectors instead of the current mayhem in that market. 

Lagarde believes that payments through digital currencies would be instant, safe, and cheap, and while they would be anonymous, central banks will keep a database of all payments, cutting out fraud and money laundering operations. 

The Path of Litecoin

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, before marking 1-1/5 year lows recently at $22.54.