Litecoin settles lower,continuing its drop off 6-month high

Litecoin fell nearly 1% or nearly $0.6 on Wednesday, to see its second session rebound in three sessions from its 28-day high on the 28th of September within the corrective process while remaining stable above the $60 barrier it tested for the first time in five months, supported by Venezuela's ratification of Bitcoin and Litecoin earlier this month, as elements of money transfer to circumvent the US economic sanctions.

As of 05:43 GMT, Litecoin fell 0.93% to $60.205 compared to the opening level of $60.835, after reaching a high at $60.869, while the lowest at $59.569.

Litecoin continues its corrective process following this week's test of its six-month high and following its fifth weekly gains in a row and nine in ten weeks. We would like to point out that its stability at the highest level of $60 is supported by the launch of the largest internet retail stores in Switzerland, a cryptocurrency payment platform that accepts many encrypted currencies, among which is the Litecoin.

Digitec, known as Switzerland's Amazon, which offers more than 2.7 items for everyday needs with fast and free shipping there, has allowed payments on its website in cryptocurrency. Keeping in mind that customers who want to pay in cryptocurrencies will have to make a minimum purchase that equivalent 200 Swiss Franc while there is no maximum amount. This payment option comes from the collaboration of Digitec with the Swiss company Datatrans.