LTCBTC ratio just broke critical support level. The next support level is 0.006811, which will most likely not hold either.
Peter Brandt expects sub $30 LTC soon, and Charlie Lee predicted $20 LTC a year ago. ETC was recently added to Coinbase, which means LTC is no longer the cheapest coin; this will have a tremendous (negative) effect on LTC adoption and the intensity of future pumps (if any).
Litecoin will most likely drop to 0.003135. We expect Bitcoin to drop to 2k. This ratio would then put LTC price at $6,27 per coin. We highly recommend all Litecoin holders to get rid off their coins. Any LTC above $10 is massively overvalued. Anyone who bought LTC above $80 will most likely never make his money back.
Comment
⋅
I advised selling in May, when the ratio was around 0.016 BTC. Litecoin true ratio is closer to 0.003 BTC. Litecoin has no purpose, it is a joke coin. Don't be a bagholder.