Litecoin: Where Is All This Hype Coming From?
What's up all you beautiful Steemian Fundamentalists?
Today we discuss why the price of Litecoin is skyrocketing and whether it's a good time to buy.
Cheers,
@clayford08
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Thank you for the information on litecoin. It is in my opinion still a good and viable alternative to bitcoin and I hope it goes ahead and pushes $100. Have fun out there and good luck with future posts!
I think its a great chance we will test $100. Looks like we are forming a large cup and handle formation on the 1D chart :)
This is such a good risk/reward right now with the current Bitcoin scaling drama.
Hedge in to LTC
I've always felt the charts on these things were just as readable, and valid, as with any other investment.
I think Bitcoin was a wonderful idea that led to the cryptocurrency revolution, but the founders might not have had quite the idea that it could be adopted so thoroughly worldwide and thus did not bake in the scalability that would be required in such an instance. They will make many modifications that will alleviate many of these limitations, but some will remain. Litecoin was the first to address many of these scalability issues and had the advantage of improving on an existing idea. They will likely continue to gain market share as they were early to the table and are the only other coin available on Coinbase besides Ethereum and Bitcoin. Another psychological advantage is that their unit price is lower than those two which will lead some to preferentially buy it as they feel they are getting more for their money.
I predicted LTC a while back would run to almost 50, the same reasoning tells me that Ripple will be next. I have noticed the bigger cryptos take turns, while others rest. LTC was resting until yesterday, and Ripple is still resting.
Here is my latest. https://steemit.com/cryptocurrency/@motowngold/i-was-3-a-bit-early-on-my-litecoin-call-but-right-on-the-money-is-ripple-next
Litcoin is going far beyond $50
Yes it is, this was a short term target, now achieved, I would expect some consolidation below 50 for a while, and then another breakout above 50 with the next target likely 100.
For sure. Just don't know if it'll be late this fall or spring of '18
I like where you're going with that.
If we just divide number of transactions per day LTC/BTC and multiply with BTC price we end up at 200 USD per LTC.
If we use number of coins then LTC price could be 625 USD however I believe this is too high right now due to the low usage of LTC compared to BTC.
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Thank you for the information on coin.
Have a good day~:D
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@clayford08 nice post
for an intresting read about litecoin :-https://steemit.com/cryptocurrency/@pps/litecoin-complementary-to-bitcoin
Hey!
I just did some technical analysis on Litecoin LTC.
What I'm seeing is a consolidation fractal forming a cup and handle on the large time frame.
I'd say its a very good buy right now for the short term trade.
https://steemit.com/litecoin/@bitinformant/what-i-m-see-in-litecoin-ltc-ltcbtc-right-now
Of course the market is much different now than when this was posted.
https://steemit.com/bitcoin/@realestatecoach/litecoin-or-litewallet