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.
Well, didn't work out, the H&S downwards move got stopped prematurely, next bullrun to 40ish incoming.
ljs411
⋅
@bysteven, Time frame is 10 to 30 days.. and yeah.. looking at it right now, seems pretty bullish.
Nilsie1988
⋅
Sorry, don't agree.
Its market cap should at least be half of ETHs market cap.
Most altcoins are "strugling" because of bitcoin at the moment.
LTC is actually holding up pretty well. I think it goes upwards over the course of this month.
ljs411
⋅
@Nilsie1988, Ethereum Market Cap: $8,193,464,754 Price: $89.53 Circulating Supply: 91,519,074 ETH 24 Hour Volume: $142,692,000
Litecoin Market Cap: $1,570,258,752 Price: $30.76 Circulating Supply: 51,052,707 LTC 24 Hour Volume: $219,778,000
LTC 19% of ETH MC LTC PX 34% of ETH LTC CS 55% of ETH CS Lower PX/Higher volume indicates higher volatility, in turn higher degree of speculative investors in nature.
ETH and LTC are two different animals. It is not a valid comparison as they are not lockstep correlated. LTC is designed to be a payment system, while ETH is designed as a platform for a variety of things it is able to act as a foundation for, smart contracts for instance. On the other hand they both have very high degrees of volatility and it is entirely possible LTC gains more traction and continues higher. My view is mostly fundamental based on near term volume increase common with investment vehicles topping out and the pace of adoption not keeping up with the market cap.
Thank You very much for looking and commenting. I truly do appreciate it and hope to come with more thoughts on other alts in the near future.
Nilsie1988
⋅
@ljs411,
Offcourse there are differences between ETH and LTC, but in my opinion that doesn't mean they can not be compared in value.
Especially now that cryptocurrencies are still in its infancy, I think they are not as far between as you might think (For instance, explain the differences of Facebook and Instagram to someone who never heard of Social Media).
Altcoins all together are rising very fast, and they will have a set back in the upcoming months. The same goes for LTC (probably), but i don't think that will be within this month.
RonDurham
⋅
Nice and easy to read. My feelings exactly. Good read on LTC.