Litecoin is one of the worst, if not the worst, cryptocurrency to be in right now. With Bitcoin being overall bearish and LTC never having made a positive move independently from Bitcoin, I expect LTC to crash into oblivion within a month.
A few things to take into consideration:
1) Charlie Lee sold the top; maybe not everything, but he sure did say he sold all when LTC hit $350-$400-ish. In addition to having perfectly timed the market, Charlie Lee warned that LTC could/will drop to $20 and that a prolonged bear market is a likely possibility (maybe not in those literal words, but his tweets were doom and gloom).
2) The FED recently predicted BTC to drop to $1.8k, which is a 77% drop from current value (7600). If Litecoin loses 77% from its current price point, it would be worth around $27, which is eerily similar to Charlie Lee's prediction.
3) Volume is dropping, which indicates nobody is interested in crypto as a whole. People are selling en-mass, NOT buying!
4) After every major run, crypto went into a prolonged bear market, which is never lasted short of a year. We are only 5 months into the bear market and there is still plenty of time left to experience max pain.
5) It is delusional to believe crypto will ever recover from this bearishness. The people who could be suckered into buying have become victims and there are few people left who would/will buy into this massive ponzi-scheme.
I therefore highly recommend you sell all your litecoins fast now, or at least short the hell out of it on leverage. Don't be left holding worthless bags of useless digital code, it is still worth over $120 - which is RIDICULOUS amount of money for a useless scam, especially when you realise it was worth 40 times less just less than a year ago.
You have been warned.
A few things to take into consideration:
1) Charlie Lee sold the top; maybe not everything, but he sure did say he sold all when LTC hit $350-$400-ish. In addition to having perfectly timed the market, Charlie Lee warned that LTC could/will drop to $20 and that a prolonged bear market is a likely possibility (maybe not in those literal words, but his tweets were doom and gloom).
2) The FED recently predicted BTC to drop to $1.8k, which is a 77% drop from current value (7600). If Litecoin loses 77% from its current price point, it would be worth around $27, which is eerily similar to Charlie Lee's prediction.
3) Volume is dropping, which indicates nobody is interested in crypto as a whole. People are selling en-mass, NOT buying!
4) After every major run, crypto went into a prolonged bear market, which is never lasted short of a year. We are only 5 months into the bear market and there is still plenty of time left to experience max pain.
5) It is delusional to believe crypto will ever recover from this bearishness. The people who could be suckered into buying have become victims and there are few people left who would/will buy into this massive ponzi-scheme.
I therefore highly recommend you sell all your litecoins fast now, or at least short the hell out of it on leverage. Don't be left holding worthless bags of useless digital code, it is still worth over $120 - which is RIDICULOUS amount of money for a useless scam, especially when you realise it was worth 40 times less just less than a year ago.
You have been warned.