Recommendation to sell or sell short LTC May 10, 2017 with time frame of 10 to 30 days.
Litecoin's MarketCap has increased exponentially primarily due to the recent bullish sentiment in the Alt Coin marketplace and enthusiasm over SegWit activation. There is no doubt that SegWit activation is good for LTC and awareness of utilization. However from a technical standpoint and a fundamental standpoint the Market Cap velocity of market capitalization has increased far beyond the velocity of utilization and turned more into a speculative investment vehicle at a faster rate than most of its peers. In my view this is unsustainable in the short term and the price will come into line with more reasonable levels based on fundamentals. While I retain a longer term (18 months) bullish view, in the immediate short term (~10 to 30 days) I hold a bearish view on the coin. These are only my personal opinions and are not to be interpreted as investment advice. Please do your own research.
Litecoin's MarketCap has increased exponentially primarily due to the recent bullish sentiment in the Alt Coin marketplace and enthusiasm over SegWit activation. There is no doubt that SegWit activation is good for LTC and awareness of utilization. However from a technical standpoint and a fundamental standpoint the Market Cap velocity of market capitalization has increased far beyond the velocity of utilization and turned more into a speculative investment vehicle at a faster rate than most of its peers. In my view this is unsustainable in the short term and the price will come into line with more reasonable levels based on fundamentals. While I retain a longer term (18 months) bullish view, in the immediate short term (~10 to 30 days) I hold a bearish view on the coin. These are only my personal opinions and are not to be interpreted as investment advice. Please do your own research.
