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Litecoin Likely to Head Towards Triple Digits This Year

The long-term USD chart on LTC has formed into an extremely powerful "double three" Elliott Wave pattern. This means that LTC could be about to begin a major impulsive wave that will take us into triple digits this year and possibly higher in the longer term. Because this is a double three I suspect that we could be beginning an extended wave-3 which could actually take us into quadruple digits, and potentially past that in the longer term. This seems like a wild proposition and would mean that one day LTC could have a market cap of hundreds of billions of dollars, but with USD and most fiat currencies looking extremely bearish over the next few years, due to massive government deficits and money printing, we could see people from all over the world start pouring into commodities (of which cryptocurrency is) and pouring out of fiat currency, bonds and stocks over the next few years.

With banks and big mainstream investors starting to invest in the larger cryptocurrencies we will likely begin to see cryptocurrency take more of a hold in the mainstream of the global investing world. This means that it is likely we will see the total cryptocurrency market cap surpassing one trillion dollars within the next couple years. We will see major foreign investment in cryptocurrency as many savvy investors from foreign countries do not want to invest in their stagnating economies, and are desperate for alternatives. Not only does cryptocurrency offer an alternative investment, it also allows easier access to international markets for underbanked individuals and businesses. The breadth that we are experiencing in cryptocurrency markets is good sign that we are now beginning a powerful wave-3, and this breadth will likely continue for many years as each individual cryptocurrency fulfils its own niche.



Comment: RIP BTC-e, this chart will no longer update unless they actually come back online :(
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hit a 3 digits! congrats!
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btce is back! Now goes under the name of wex (the new domain is in nz).
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How we looking on this Intuit, you still long?
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demonized rjmacarthy
@rjmacarthy, hold it till end of the year
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I'm honestly surprised more institutional investors aren't getting into cryptos, given new regulatory burdens and most active fund managers struggling to outperform indexes. Once a proper investment vehicle for cryptos establish (BTC ETF...) then we'll start heading to your projected 1 trillion I think.

Not sure how much longer central banks around the world can maintain zero, negative and low interest rates (looking at you Japan), combined with printing copious amounts of money (Hello 1970s, that didn't work either). While all that is inflating equity markets and we currently have a nice bull market, I personally doubt this can go unpunished and a correction will come about as you say. The US's tentative 25 BP increase every 4 months just isn't fast enough. They should check their historical debt levels and the respective interest rates then.

And this is where Crypto truly shines as an alternative asset class; a better yielding asset than gold while hedging against financial market shock.

Would love to hear you thoughts Intuit.

-PositiveRoi
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+1 : HODOR
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Most likely..
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what about BTC going down, how do you handle this then?
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Im HODL since 7 dollars and low key forgot about them but no ragrets now
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