Litecoin to show it's cards today!
Posting again as a reminder that we are still in this down trend. Can the bulls push us up and through? I don't know. But as I stated in the last post, we will certainly know by COB today. I think the next candle on the COINBASE daily opens at 8pm EST? This new candle should give us an indicator of where we're headed. But remember, we also need confirmation. Confirmation is the open AND close of the next candle on the daily either ABOVE our downtrend channel OR below our uptrend channel (GREEN). Either way (again because I continue to receive questions about this), I am NOT a buyer until we break the channel!
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I think LTC is definitely undervalued. Good team, good technology, good governance and faster transaction times.
In the early days of crypto, it followed Bitcoin at 1/4 the price. I don't see why it couldn't do a considerable amount of catching up in the coming months and years.
Agreed. Whereas Bitcoin has a 21 million coin cap, Litecoin has an 84 million cap. So technically, it would follow at 1/4 the price if it was as popular as Bitcoin. But, it's not. If it was half as popular as Bitcoin, it would be priced at $500 per coin right now. If it was only %25 as popular as Bitcoin, we should see a $250 per coin price. Not even close. Right now the market is saying that Litecoin is only %5 as popular/functional/usable as Bitcoin. IMO that seems way undervalued. The question is, when will the market realize how under appreciated this great coin is? Maybe not for a while. We'll see.