Litecoin had one of the most epic runs in 2017 which made a lot of millionaires in a year.
The market started crashing from 2018, which was, of course because of a lot of factors, (including profit taking by the early investors).
A lot of people believe that Litecoin is dead or something, but the Paypal news was big enough, and I personally believe LTC will gain traction because it's the cheapest coin among the 4 other coins listed by Paypal (Other coins include: Bitcoin, Ethereum, Bitcoin Cash).
They will open the markets to a lot of newbie traders who absolutely have no idea what Litecoin is, and as per market psychology:
1) They will think of it as a cheaper version of Bitcoin,
2) People will prefer owning one whole coin instead of fraction of a coin (Take Bitcoin vs Litecoin). Even though we know what Bitcoin is, and it can't be compared :)
Look at the charts:
There's a multi year breakout incoming, (on the log charts).
Bitcoin already broke out of the multi year diagonal resistance, and has given us an impressive rally since then.
ETH was leading the markets for a while, but it seems BTC is back in the game, and soon other altcoins will follow (though I'd still recommend against holding random alts having no real value/use case)
If Litecoin breaks above, expect:
1) Mass FOMO by 2021 end,
2) We go to the moon if we can catch the trend early
But remember that there is a downside as well. So play accordingly. Never go all in, and invest only what you are okay to lose.
And of course DYOR! ;)
The market started crashing from 2018, which was, of course because of a lot of factors, (including profit taking by the early investors).
A lot of people believe that Litecoin is dead or something, but the Paypal news was big enough, and I personally believe LTC will gain traction because it's the cheapest coin among the 4 other coins listed by Paypal (Other coins include: Bitcoin, Ethereum, Bitcoin Cash).
They will open the markets to a lot of newbie traders who absolutely have no idea what Litecoin is, and as per market psychology:
1) They will think of it as a cheaper version of Bitcoin,
2) People will prefer owning one whole coin instead of fraction of a coin (Take Bitcoin vs Litecoin). Even though we know what Bitcoin is, and it can't be compared :)
Look at the charts:
There's a multi year breakout incoming, (on the log charts).
Bitcoin already broke out of the multi year diagonal resistance, and has given us an impressive rally since then.
ETH was leading the markets for a while, but it seems BTC is back in the game, and soon other altcoins will follow (though I'd still recommend against holding random alts having no real value/use case)
If Litecoin breaks above, expect:
1) Mass FOMO by 2021 end,
2) We go to the moon if we can catch the trend early
But remember that there is a downside as well. So play accordingly. Never go all in, and invest only what you are okay to lose.
And of course DYOR! ;)
Trade closed: target reached
100 and 200 MA crossovers are also on the table soon. This will confirm a trend change :)