In the last few days we have already seen 300 USD, as expected in my last post to LTC. The question is, what's happening now. According to TA, the LTC could develop and go up independently of BTC. Why?
Here are some facts about LTC that may not everyone is aware of:
1. China has instructed the Bitcoin mining industry to carry out a rapid and orderly deconstruction. This means that around 70% of the world's mining power will be no longer available. This could further slow down BTC's network and thus the transactions.
2. Most people are not yet aware of the technological leap by Lightning and its effects. Lightning will almost abolish charges. Wallet operators can make p2p payments securely and free of charge. Bitcoin Cash could become unnecessary because BCH has no Segwit and therefore no lightning.
The first stock exchanges that establish Lightning will handle instant transfer and trading between trading partners directly on the blockchain. Exchanging Litecoin for Bitcoin to Dash etc. is handled between the users of the different blockchains in separate channels. As soon as this is realized, there will be a paradigm change and the altcoins will all jump up to become lightning compatible.
What does this have to do with LTC now? Litecoin is already compatible with Lighting! And therefore it could replace BCH. And now let's take a look at the price of BCH and compare it to LTC. Any more questions? ... Lightning is developed with absolute high pressure and a test network is already running successfully. This could be the Game Changer 2018.
3. With this technology in the background, LTC is one of a kind. The distance to the main competitor DASH will be significantly reduced. Let's compare the price with DASH, no questions should remain unanswered.
The only unknown in the TA is time. LTC could rise sharply. The time frame is open. No one can say whether we will see the 800 USD in February, but it could probably be. Current, we should have reached the bottom.
Let's see what happens. Happy trading. :-)
See also:
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LTCUSD (2h): current situation. close up.
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LTCUSD (30min): screenshot for in-between
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LTCUSD (4h): update ... still unsure, but not so bad.
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LTCUSD (4h): update ... situation could be more clear and positiv.
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LTCUSD (30min): update. LTC may have broken the short term resistance.
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LTCUSD (4h): update. waiting for re-entry.
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LTCUSD (12h): Update. Could get really interesting. LTC is a strong coin imo.
Seem you got fomo my friend. I'm fully agree that LTC have super strong potential to reach higher pricing. I'm seeing the road that LTC will up to 2000 USD on 2019 but it's yearly, not right now or a few months.
My advise is exit from the market before new year of Asia come. We know that cryto market being controlled by the whales, whom own more than 40% total of BTC supply.
They always can find a smart reason to correction the market. Make it down, buy the dips then pump.
We have see a small crash when "christmas and new year" come, many news blame to this reason. I think the script is same when "Asia's new year" come.
However, it's the market. By anyway it can't exit the focusion of long term TA. Let's see what will happen.
P/S: Anyone want to invest at this time can try ETH (target 2100 USD), NEO (target 400 USD), BTG (target 1000 USD)
BTCINVESTING
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@vh6889, i'm not exactly your opinion. trading according to TA doesn't deal with any vague news. currently there's nothing wrong with an up at LTC. and if so, you can always quit it at any time. I see the opposite is true for be eth neo and btg. eth runs directly into scaling problems. neo is not yet fully developed. and btg is still difficult with regard to network and community. at btg, however, the TA looks good.