Litecoin continues its downward trend to create a new bottom of 39 CNY
, lower than the previous bottom. I continue to believe my previous assessment that Litecoins fundamentals are no longer enough to keep it in the position as the second place coin. Unless something very extraordinary(i.e, Litecoin on Coinbase) happens to Litecoin at this point, it's bound to continue its inevitable deflation.
In my opinion this is still an excellent short.