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RE: 420 Dollar Per Coin: Comparing The Volatility Of Litecoin With Other Assets Shows Its Growth Potential
I think your analysis is valid. LTC is one of my larger holdings and I believe in Charlie Lee. The blockchain he is developing, which is on bitcoin, allows him to piggy back the advancements bitcoin makes. At the same time, he is looking to add things such as vaults and smart contracts, much sooner than bitcoin.
As with all cryptos, the entire market should get a lift when Wall Street starts rolling in. This means a lot of money will be spread all over the place. I dont see LTC getting the same attention as BTC but it will get some. That means money flowing into it.
When do you think will it happen that Wall Street enters the market beyond the test balloon level?
My impression is that it might be with a (potential) next hike in interest rates by the FED, since the previous development seems to have been so closely connected to it. And here comes politics into play: What if Trumps new candidate wants rising volatility for classic assets (=constant/lower interest rates again) but not for cryptos? Or am I looking here at a correlation without (strong) causality?
I think it is already starting. There were 80_ hedge funds set up so far this year to buy cryptocurrencies. When they are funded and start buying, I would say at some point in 2018.
Plus, I believe all the rhetoric by the bankers shows they are about to go on a buying spree. Some already are picking up coins like Morgan Stanly and JPM (although they might be for clients). Either way, the attack by the bankers means they will certainly try to monopolize this market by buying up what they can.
As for the correlation, I dont think there is enough of a track record as of yet since the Crypto market is still in its infancy. It is simply too small to draw any conclusions. It is under $200B....other markets are trillions....
Thanks for that. Didn't know about the hedge fund waiting line. If they go for it at once, it could disrupt the entire market and drive prices to prohibitive level. That would trigger another wave of half-baked forks to cover the demand. I really hope this won't happen.