I think it's become clear Litecoin's price will be in the doldrums until Bitcoin can retrace back at least 50% from it's previous all time high. This threshold was key to Litecoin seeing some major investment in the lead up to the last parabolic spike, perhaps due to speculators feeling they had by then missed the bus on Bitcoin. Until very earlier this year, investors had to move into Litecoin via Bitcoin, because main street had no access to direct Fiat into Litecoin dealers. This time we will have access to the likes of Expresscoin & ATM's that apart from Bitcoin also offer direct Litecoin purchases. Personally I want to see what being the 2nd most accessible coin in the cryptosphere has during a parabolic market move on Litecoin's price, Now that the the Fiat in Fiat out pathway, isn't only paved in Bitcoin.
Hi Chenriquev. First I'll say this is a hopeful forecast based on pre-existing precedent at best. I don't think any forecast can be classed as 'correct'. However, even at the time of writing, $13, Litecoin is more than double it's high price from the previous phase of $5.90. I think the 'news' from China has been for the most part priced in back when it was actually... well news. There is certainly a possibility for LTC to revisit it's December 17th low of $9.12, but it better be quick as it's running out of time to get there, unless of course it wants to break through that lower support channel line it has only ever breached once back on the 25th October 2012. Anything's possible :)
Thanks Srgiu. This is the 1 day chart for Litecoin. When you select a time detail less than this, you can only view a smaller window of time. So anything less than a day won't give you this size view of the market. Another problem for these long forecast charts is the way the autoscale prevent's you seeing the extremes of your hypothetical forecast. So to bring these areas into view when your in the chart editor, you can hold the mouse button down on the right hand side scale and slide the mouse, so you can expand or compress the vertical scale of the chart. This will bring the extremes into view so you can work on them. Unfortunately this does not yet work on the horizontal time scale. Hope this helps:)