I got caught up in the greed trap when trading Litecoin this summer. I had bought a batch of LTC back in May when the price was at around $60 - $70. As we all remember, the crypto market went on a nice bull run, which lasted for about three months, running its cause at the tail end of August. I held Litecoin right through its peak price of $140 and then its first downward movement to $90, expecting the price to bounce back and continue its move to $200. So, now I am stuck with Litecoin for a long time.
Litecoin has been my second favorite cryptocurrency, after Bitcoin of course, for quite a long time. It has great fundamentals; Litecoin Foundation landed some sweet sponsorship and partner deals this year with various sports organizations, and it has just passed the halving. We already witnessed the first LTC halving. Back then, the price took some time to consolidate and then simply exploded to $300+. It is my firm belief that history will repeat itself. Watch out for $200 per LTC by the end of the year.
LTC is always perched in an uncertain position. It may be because crypto enthusiasts are unsure if LTC has lasting power in the crypto market, but it either gets weak support or strong buying action. Lately it’s been enjoying strong buying action, but it may be due to its use as a BTC hedge. The last time we saw this much interest in LTC, it rose from $20 to over $300. It will be interesting where this current trend lands LTC. For those that bought in at its 2018 lows, they’re enjoying well over 2x valuation, which has significantly outperformed both BTC and ETH.
Litcoin has been the best performer in the whole crypto market. It’s insane how much money you could have made by buying the bottom. You could literally already be over 3x from its bottom about 4 months ago. How can anyone that knows crypto not be heavily vested in LTC. This coin is basically BTC-lite and it’s transaction speeds are super fast. They’re nearly triple that of BCH and BTC, making it the more viable option as a day-to-day spendable currency. It’s crazy that people thing that BTC will ever used as a day to day transaction currency since its so slow. No one in the financial market would ever look at it as a replacement of their traditional system. There’s just no way. LTC on the other hand is the better alternative.
I still don't understand how Litecoin is so high on the CMC rankings. LTC is just a smaller version of BTC, and BTC is already the best crypto out there. Why is it that LTC still holds so much value? It's a bit faster but as lightning network becomes more robust BTC will power right past LTC in terms of transaction speed. I'm not a maximalist or anything, I just don't see the relevance of LTC anymore.
Litecoin has been one of the best performs beside BNB coin. This week it's already grown 25%. This shows that the high value coins are in demand and we are more than likely to see a bull run of top coins like BTC and ETH. Once this happens, the majority of profits from these big caps will flow into the top 3 coins. Once this happens we will see a repeat of 2017 and early 2018.
Litecoin led the bull a few weeks ago and that signaled the current trend. LTC is going to benefit once the market takes off considering its overall recognition in the whole crypto market. Everyone knows LTC, and we all saw what happened in 2017 when it found its legs!
Cryptocurrencies are replacing Fiat at an increasing rate. It is still an early stage, but for 10 years you will be able to pay all your bills, goods and services with cryptocurrencies.
Over the weekend the crypto-currency market as a whole showed almost lateral dynamics. The market took a pause and in the coming days should decide on the direction of its further movement. Now the key points are formed on the charts, and it is not yet clear whether they will eventually become reversal points, or they will be continuation points, so we follow the dynamics and at the same time are getting ready to join the game if the line of least resistance for the price movement unfolds up.
The bears are ruling Litecoin (LTC) today, driving the price to $123 - last time we could see that in the beginning of December. On big timeframes MACD and Alligator signal just the start of a coming downtrend, however, I see fixing the profit from short positions now as a good opportunity. I would open long positions only if the price is steadily above the key resistance level $200, and - if $230 turns to be too much for the bulls - will short on the rebound, at $217.
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