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RE: Litecoin Explodes Higher After Flood Of Chinese, Korean Buying In Search Of Latest Cryptobubble
Litecoin had been kinda stagnat for a while. I was shocked when I checked today and saw it at like $47. I hadn't been that bullish on it. What's your outlook on Litecoin?
In terms of my outlook, while Im a long time tech nerd, im a crypto hack amateur. I love the tech, but dont understand the demand for so many different crypto coins. For Lightcoin, it has the two exchanges coming online on Monday and one of them is a big euro exchange.
The 2nd benefit is there are twice as many lightcoins to bitcoins, but it was priced at around 60-1 before it broke out so now its probably 40-1. Third, apparently the Chinese and Koreans picked it because it has not risen like bitcoin. Sort of how the Chinese build up real estate in a city and then move to the next city. Lastly, LTC already had its SegWit and its also fast. On the negative, I dont see LTC having parity to BTC because there is an actual team and infrastructure. With BTC, there is nonone to subpeona, no office to raid, no buttons to modify rules, no one ti charge with a crime. So lets say that discounts LTC a lot, even at 10 to 1 parity that would put LTC around $130. As bitcoin rises my guess would also rise. Again, I am an amateur hack, but im keeping my LTC to see how it works out.
This is one advantage of being part of Steemit and following crypro contacts. Amazing and timely amount of info with no bank to manipulate.
Yah, i bought some about 10 days ago, but got bored with it flatlining. I was seconds away from selling it when I saw a post it was being added to two exchanges on Monday so I kept it and a few hours later it started to rise.