Litecoin, in my defense: past performance, present confidence, and future growth
Looking back - 15th June 2017
*****Screenshot taken 15th June 2017*****
Looking back at my thoughts on LTC, my forecast was not too shabby, as it managed to keep its value at -13.66%, thus performing better than BTC. Had you decided to hold your money in BTC, you’d still be losing more dollar value compared to LTC. At the time of writing, none other major cryptocurrency has performed better than LTC.
In my defense – 22nd June 2017
In my defense, when I postulated that LTC might be outperforming BTC and ETH on the 13th June 2017, I made that hypothesis with careful consideration of the risks involved. Fast forward now, it seems that we find ourselves in a crypto market “meltdown”, or consolidation/correction to put it mildly. Looking at the top ten crypto coins by market cap, LTC is the only coin that went up over the past 24hrs, the rest struggled and are currently in the red. This is what I mean by “outperforming” the big boys like BTC and ETH.
Granted, the second and third best performing coins go to DASH and BTC, respectively, that is still almost an 8% difference in terms of the 24hr change. It is amazing how DASH went from ~$20/coin to a staggering ~$180/coin today. In terms of Dollar value, BTC climbed at least $1.5k in the same period of time, not bad at all. Trading at ~$45, it is relatively attractive to see LTC as the more preferred store of value, considering the current dramas in the BTC community. As you might already know that by getting into Litecoin you risk losing 100% of your investment (provided that you don't leverage), but the upside of it might very well be brighter than Bitcoin, considering the current price of it relative to Litecoin.
*****Screenshot taken 22nd June 2017*****
Litecoin on the rise - 03rd Jul 2017
With Charlie Lee shifting his focus back to Litecoin, it has a direct effect akin to repatriation of human intellect back to the Chinese community. Therefore, Litecoin is seeing a tremendous growth in both confidence and user base. It would not be surprising to see Charlie achieving a celebrity-like status in the crypto space soon.
*****Screenshot taken 03rd July 2017*****
Disclaimer: All opinions are my own. Trade at your own risk.
U must have some study on this.. Good blog man... Wish u luck
Yes indeed, I started paying more attention to LTC when I thought LTC could be a good investment, and yet a good friend of mine told me LTC wasn't appealing enough for him to put his money. In the end, I received a lot of negative feedback from him. That was the very reason why I started putting up my own analysis on Steemit, as a log of my personal thoughts. Thanks for reading.