LiteCoin (LTC) Update: How Different is it from Bitcoin's Pathway?
SUMMARY
I've frequently stated that Bitcoin is the moon that moves the tides of the Cryptosphere ocean and that all Altcoins swam in it. Another was that when Bitcoin sneezes, then the Altcoins catch the flu. So, yes, Bitcoin is moving the markets and so just about every coin is following in its footsteps.
The below chart shows LiteCoin (LTC) with a decending wedbe pattern and also likely to generate one more lower low IF the upper line of the triangle repels the price back down. The overall pattern is quite bullish, once complete and confirmation will require a breakout from the contracting lines. So where exactly is the bottom? I don't know and nobody knows. To ask for certainty in a game of probability is not the right request. Rather, the most common question should be what are the probable outcomes? I believe there is a distinct a,b,c corrective waves and that wave c is subdividing into fives. That subdivision shows about $110 to $100 as a potential bottom. Therefore, aligning a buy ladder to be cast in that range could be beneficial.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Awwww man! You unvoted as witness @haejin. Why you hate me and bully me so much?
I just want everyone to love each other! Just love me baby.
Bitcoin is the future of cryptocurrencies, sooner or later hard currencies will fade out and those avoiding the use of bitcoin will be left with no other choice. Nice write up @haejin
Bitcoin only has future when they fix the fees, transaction times, authorisations etc.. basically there are better coins in they market. btc wont drop easily since many people are heavily invested in btc...
Bitcoin is frankly a disaster. The problem is that all the other cryptos are priced and bought with it. As long as this is the case, it will dictate the prices of the other cryptos as well. It's basically a petro-Bitcoin model and this keeps them all under the thumb of Bitcoin. Hopefully this too will pass..
Come on it's not a disaster, it's acutally improving. Transaction times, and fees I know, I know. Just stay patient. The developers couldn't really expect the rush in December and they are working on it.
Always remember were still the early birds trading on the crypto market. Here and there a bit of (mostly negative) mass-media attention but that's it. Most traders are here because of word of mouth probably just like you and me.
Looking positive in the future
I respectfully disagree. I think Bitcoin was the initial crypto experiment. The technological and management issues of Bitcoin itself are massive. The idea for Bitcoin was of course revolutionary, the reality of Bitcoin is however quite the opposite. I won't traverse the litany of issues with Bitcoin since they are incredibly obvious.
I think what Charlie Lee has done with Litecoin as the first major fork of Bitcoin is however brilliant. He has addressed most of those issues and has improved dramatically on the original platform. This is not even including the many new improvements on their way. The fact that Litecoin is a fraction of the Bitcoin price is preposterous. If people really understood what they were investing in, it would be the exact opposite price ratio between Litecoin and Bitcoin as it is today.
For people who are worked into the topic itself, the problems are big and very obvious for sure. On the other hand for the average Bitcoin holder whose not really interested in the fundaments behind the technology and whose intention is to make some short or long-term money on the way up, the problems are smaller, if not even invisible. I don't disagree with you, it's just that we always have to keep in mind that people usually do not dig that deep, but for sure problems are there and they have to be fixed in order to keep the system long-term running.
Just like you I prefer Litecoin, and I'm especially regarding what's coming next, to mention Litepay :)
I couldn’t agree more that bitcoin is the future. Once Bitcoins lightning network is released litecoin, bitcoin cash, and several Alts will disappear.
I think you are frankly confused. Please have a read of my reply above.
What am I confused about? My statement was pretty clear, I’m no expert but if you go back to the .com era the first to the market didn’t have the best tech or the fastest speeds but it’s what we use today. Much like bitcoin will be 10 years from now.
The only reason Bitcoin still exists is because a lot of people are still far too attached to it to let it go. Bitcoin was the initial experiment in cryptocurrency. There are far better technologies coming that will supersede Bitcoin - Litecoin is the first of them. Bitcoin is fully unable to even act as a cryptocurrency at this point. Lightening is a patch for it. Bitcoin has now become just a holding pen for value where people that don't understand cryptos still feel most secure. Most holding it probably couldn't name another crypto other than Bitcoin. So they park value there because it's all they know and think then can ride it up. It's a sideshow. Litecoin will take it's place as the premier cryptocurrency at some point in the not too distant future simply because it can actually be used as a currency.
This is where Bitcoin is going. This is the opposite of why we signed up for Bitcoin or any other crypto for that matter:
https://steemit.com/bitcoin/@melip/why-banks-love-the-lightning-network-and-why-you-should-be-very-concern-about-your-bitcoin
Bitcoin will only be a store of value in the future. Litecoin will overtake the transactional game.
@haejin any updates about TRX I buy it at 0.00001224 and now its stuck at 0.00000700
Is any good news about TRX?
TRX is one of the best long term holds you can buy right now. It already has several partnerships and one of the best dev teams of any coin. It will be $1 by the end of 2018
Hope so it will go up
Do you suggest to keep Hodling LTC?
haejin TA is like this pile of poo!!
Kimjongpoo who are you lol funny
Absolutely!!
I would sell it, once Bitcoins lightning network is released there will be no need for litecoin.
When will that happen?
They haven’t announced a date yet, 2018 for sure though.
That will only boost the need for litecoin. The lightening network cannot solve the bitcoin's problem but will make it better.
I am praying for $100 LTC !
I will buy $50,000 more at that price
$600 LTC here we come...
haejin TA is like this pile of poo!!
Upvote & resteem .... Follow me @lurehound
haejin TA is like this pile of poo!!
your doing god's work kimjongpoo lololol
that would be a huge difference :o
guys thats good point!
now it is better both experts are opposite lets see which one is right about litecoins
haejin or @salahuddin2004
salahuddin view about litecoin
https://steemit.com/litecoin/@salahuddin2004/litecoin-will-shoot-at-usd360
haejin TA is like this pile of poo!!
Experts top 20 coins for 2018
https://steemit.com/altcoin/@salahuddin2004/4ffyjm-top-cryptocurrencies-pending-price-target-and-their-due-dates
Just hodl LTC :)
haejin TA is like this pile of poo!!
This TA though... Are you trying to fit Elliot waves and other patterns on the chart where there are none to be found? Because it sure looks like it, what is that "ascending triangle" on the bottom left? what influence does that have?? Why do you say "target $114" with a checkmark? To make your audience believe you predicted that? Pathetic, it's easy to talk about the past claiming your target was correct. I mean, you know I predicted BTC was going to hit 20k before 2018, right? I was spot on, let's include that from now on in every TA I make so everybody knows I, and only I, predicted BTC was going to hit 20k. Now everybody will believe my further TA, and give me more upvotes, how beautiful. LTC will almost certainly go it's own way and there is no way your TA gives any clues of where it's going. Just throwing darts, like always. Wanna know my TA on LTC? I'm calling that LTC price will rise in 2018, I can't tell you when or why or how much though, but it'll rise...
Check his past predictions. There are timestamps on his posts, there's nothing deceptive going on here.
152 upvotes, $319. Seems legit... Did you beg your whale friends to upvote again?
It is very informative,thank you!