Why I'm Buying Litecoin - LTC - Today - Even at 47 bucks a pop.
Hey there from Team Metacoin. We're putting the finishing touches on a couple private coaching and training programs - and we wanted to share one of the picks that goes into our Platinum service.
(We're sharing this with the Steemit folks first - of course there will be MUCH MORE to the Platinum service, so you'll have to stay tuned for that.)
It's LITECOIN - LTC is the ticker - and we're pretty bullish on it right now.
Reasons why?
Charlie Lee Doubles Down
If you don't know Charlie, well, he created Litecoin. Then he joined the Coinbase people. Now he's back running Litecoin full time. He's a big reason to bet on LTC - which has gone up and down in his "absence."
BTW, if you're one of the 15 people on Steemit who does not have a Coinbase account, use that link above and you can potentially get a bonus with a qualifying purchase.
BTC Noise Could Mean Price Suppression
We don't know how this will play out: Bitcoin's noise seems to center around a whole bunch of Segwit, UASF, Bit 148 and other topics that we try to be aware of but not focus too much on.
However, everyone's saying "AUGUST 1" and that could be a red-letter date. Whether BTC drops a little, a lot, or none at all might be beside the point; for the next six weeks, many newbies will be looking for a BTC alternative. LTC could be that alternative.
ETH Is Too Frothy, Thanks to ICOs
Many consider BTC to be the "reserve cryptocurrency;" but ETH is coming on its heels. However - and we say this despite being long ETH - there's a little too much froth (Alan Greenspan's term) in the ETH market.
These ICOs that are launching built on Ethereum also don't make it very easy, either, to say that ETH is fairly valued.
Result: newbies, buying in on Coinbase with US Dollars, will look for something affordable. (Don't think this isn't a factor - even if you can buy fractions, there will still be price-sensitive investors.)
BTC is in the 2500 range. ETH is around 350. You can buy LTC for 47-49 bucks as of this writing.
Accumulate at anywhere up to $55 a coin. Price target: $75-90 - which could be a couple months, could be sooner. Consider taking profits there.
Do you see any future for litecoin if segwit is activated on Bitcoin? To my knowledge the only real difference between the two is that LTC has segwit while BTC does not. So my current thinking is that if BTC enables segwit LTC is essentially useless since BTC has much more brand recognition and trust than LTC.
That's a great question, and I'm not a Segwit expert...
I look at LTC as a hedge. I can't imagine all three Coinbase coins will move in lockstep forever - though ETH and BTC seemed to move for the past couple months in a pretty similar pattern.
BTC activating Segwit would not necessarily be a bad thing for LTC; there's a name recognition pattern there, but I honestly think people will be looking for a coin that could become "the next BTC." Or the next ETH. And so on.
As always, your investment could go to zero - so that remains a possibility, too.
Makes perfect sense as a hedge. And all kinds of exchanges seem to be adding LTC lately.
Thanks for the reply! I never considered LTC as a hedge. I remember when I first got into crypto about a month ago I was looking for "the next BTC" and ironically I ended up buying a small amount of LTC because of it so you are definitely right in that aspect!
Check this out from my Metacoin site...
http://metacoin.co/hows-your-bitcoin-hedge-fund-doing
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Solid article. Interesting to see I'm not the only one that is thinking about this. There's a lot of exchanges out there. I found that coinmarketcap.com gives quite a decent overview. Does anyone know about: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. For example: https://www.coincheckup.com/coins/Litecoin#analysis For a complete Litecoin Research report