Is Litecoin approaching its death? A thorough analysis.
Is Litecoin approaching its death?
Bearish indicators:
• LTC was $80 in february, and barely $60 today
• All other major coins not only recovered their february values, but also pumped hard (ETH for example 100%)
• MimbleWimble progress delayed
• LTC failed to break multi-year resistance line
• Adjusted for inflation, LTC is worth the same price as it was during its 2013 high: in other words, 7 years of holding LTC will not have given you profit, but huge irrecouple losses (opportunity cost)
• LTC is one of few cryptocurrencies that performs WORSE than traditional assets. Cryptocurrencies are known for their huge pumps, but LTC is the exception.
It looks very bad for Litecoin. I would be VERY surprised if it trades above $60 next week.
LTC MAY revisit triple digits very briefly, but it will merely be an exit pump after it will crush hard to sub $30. Most people won't have enough time to sell that pump because of its artificial and temporary nature.
You have been warned!
Bearish indicators:
• LTC was $80 in february, and barely $60 today
• All other major coins not only recovered their february values, but also pumped hard (ETH for example 100%)
• MimbleWimble progress delayed
• LTC failed to break multi-year resistance line
• Adjusted for inflation, LTC is worth the same price as it was during its 2013 high: in other words, 7 years of holding LTC will not have given you profit, but huge irrecouple losses (opportunity cost)
• LTC is one of few cryptocurrencies that performs WORSE than traditional assets. Cryptocurrencies are known for their huge pumps, but LTC is the exception.
It looks very bad for Litecoin. I would be VERY surprised if it trades above $60 next week.
LTC MAY revisit triple digits very briefly, but it will merely be an exit pump after it will crush hard to sub $30. Most people won't have enough time to sell that pump because of its artificial and temporary nature.
You have been warned!
Related Ideas
