Greetings,
Today we're having a look at one of my favourite classic cryptocurrencies, Litecoin. We are at the bottom of another lengthy swing trade (2-5 months long trade). Right now Litecoin price is on strong support levels ($97-100). If it breaks below $97, we are in trouble people (Set stop losses accordingly!).
For those new to the game, let me give you a quick back story of LTC. It was released all the way back in 2011 as an alternative coin to BTC, designed to provide fast, secure & low costing transfer fees. LTC is based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
What makes Litecoin different? Charlie Lee makes Litecoin different. Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry. Charlie Lee, also known as “Chocobo,” is an early Bitcoin miner and computer scientist, who was a former software engineer for Google. In addition, Charlie Lee held the role of director of engineering at Coinbase between 2015 and 2017 before moving on to other ventures.
PRICE HISTORY;
March 2017 - $3.40
December 2017 - $352 (100x + in less than 12 months)
March 2020 - $34
May 2021 - $411
Today - $102
One thing we know about history is that it repeats itself. I am truly confident we will see LITCOIN reach all time highs again.
Remember, nothing is guaranteed, control the controllables.
Mogues
Today we're having a look at one of my favourite classic cryptocurrencies, Litecoin. We are at the bottom of another lengthy swing trade (2-5 months long trade). Right now Litecoin price is on strong support levels ($97-100). If it breaks below $97, we are in trouble people (Set stop losses accordingly!).
For those new to the game, let me give you a quick back story of LTC. It was released all the way back in 2011 as an alternative coin to BTC, designed to provide fast, secure & low costing transfer fees. LTC is based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
What makes Litecoin different? Charlie Lee makes Litecoin different. Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry. Charlie Lee, also known as “Chocobo,” is an early Bitcoin miner and computer scientist, who was a former software engineer for Google. In addition, Charlie Lee held the role of director of engineering at Coinbase between 2015 and 2017 before moving on to other ventures.
PRICE HISTORY;
March 2017 - $3.40
December 2017 - $352 (100x + in less than 12 months)
March 2020 - $34
May 2021 - $411
Today - $102
One thing we know about history is that it repeats itself. I am truly confident we will see LITCOIN reach all time highs again.
Remember, nothing is guaranteed, control the controllables.
Mogues
