Litecoin – 3X on the way!!!!
Is Litecoin on the way to $240?
Litecoin has seen some nice action over the last week. Up 26% which is a healthy gain, but not outside of fundamentals and following the trend of many other cryptocurrencies that are being pulled up by the bitcoin bull run.
Looking at the long-term chart, from 2017 to now, the next real resistance is $80, then $130, followed by $160 then $240. Volume has been picking up.
Outside of the chart technical, although things have appeared quiet on the Litecoin front, development is ongoing. There is a current discussion on a Velvet fork which will create cross-chain abilities between Litecoin and Cardano which will allow Litecoin to use the smart contract abilities of Cardano. At the moment Litecoin stands at being a payment coin and in a fast-changing blockchain world, being a payment coin is just not enough.
But besides all of that, there are other external factors that I believe will push the price to $240 and that’s the ability for some to now by cryptocurrency with Paypal.
4 coins are on offer by Paypal. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Litecoin is currently the most affordable coin on Paypal and this is important. Paypal offers mass adoption, and many people are seeing cryptocurrency for sale for the first time. Price is going to be an emotional barrier. People will think, Hay I can get 1 bitcoin for less than $100, sure I won't even get a half Bitcoin cash for that, let alone ethereum or bitcoin. Once $100 is reached the next barrier will be the coin with the closet's price, which is Bitcoin Cash, currently trading at $254 – sure that’s the same resistance as the technology on the chart.
Most people are not shrewd investors. 1 full coin feels more valuable than fractions of a coin. Perception of the number of coins purchased against traditional value and affordability will play a bigger part in the buying process as the masses adopt cryptocurrency.
So what do you think? Is Litecoin about to 3x? Leave your comment below.
Disclaimer, this is not trading advice or investment advice. Cryptocurrency is very volatile and you could lose all you put in.
Litecoin was supposedly working on a privacy feature onchain that would have been a game changer.
It was announced about a year ago yet I havent heard any updates since then.
This entire industry is like watching a horse race, that goes back and forth.
Perhaps Litecoin will get hot and reach the levels you mention. That would mirror the move that BTC made since earlier in the year.
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there was an update in the summer, but I am not sure if that was the privacy feature, there wasn't much noise about it anyway.
Yeps its a crazy industry right now, but fun. there is a good chance litecoin can do this, I think paypal will have a big part in it too.
I'm holding a small amount - it is a definite possibility
Yep, I am also holding a little. Let see what happens :-)
It would be interesting wouldn’t it? I’ve liked litecoin for a while and have held a decent stake in it so it would be nice for that to pan out !
I don't hold enough, I need to get my self more
I sold a fair amount of mine as of late so my stake isn't what it used to be but it isn't 0 so that's good!
Hope you're doing well Paula, haven't seen you post much but I know it's tough being a single parent during all of this restriction crap!
yea life is very busy, with the kids and work, I just don't have the time for hobbies, it kills me because this hobby is also an investment!!!
Litecoin is looking good. we have hit that $80 resistance, good to hear you still have a little :-)
I do like the look of that chart. I could see it taking a nice upward run very soon.
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see you at the top
Litecoin seems to be on a good Pace. Perhaps we might see litecoin hitting $300 before the month ends
$300 would rock, and it this game, anything is possible
Interesting way to look at it. A lot of people I talk to feel like that. When I mention Bitcoin, they cannot help but to only look back at the past and wonder how rich they would be if they would have bought it a long time ago. Or they just look at the price of one Bitcoin and dismiss it as something they could never afford, because they do not understand that they can buy merely a fraction of it and still profit if the market moves up. Buying a full coin will indeed mean a lot to many people entering the crypto world.
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traditional fiat is not really fractions and works to 2 decimals. When the human brain tries to make a comparison they know half a dime will get them nothing. Now try to move that to 18 decimals and tell people it will increase in value.
When we are talking about mass adoption and the general public, it's much easier to understand the buying process. Markets currently occupied by the general public are a lot more stable for that reason. predictability of human nature.
This is exactly the way most people think.
"Just look at the price of one Bitcoin and dismiss it as something they could never afford,"
I already feel sorry for all the "dumb money" entering the space when Bitcoin goes nuts. A lot of money will swap hands when Bitcoin corrects itself once more and drops harder than ever before. People talk about 100k-300k at the next peak, while the following drop will probably be 90% down from that. History repeating itself.
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I'm not sure I agree with the next peak and the 90% drop, but if I tell you why I will be giving away the details of my next post :-)
I'm looking forward to it. It would be too easy for us if things just repeat on a higher level, wouldn't it?
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a higher level might just happen, hehhehhehe check out the charts in my latest post
https://twitter.com/ProfTAcademy/status/1329000473756635136
I'm not a big fan of Litcoin, but I do own some because I think it will go up.
Thinking outside the box of is it good and switching to will it go up has been a stretch for me, but right now my big holdings in monero and cardano are looking a bit flat next to litecoin!
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I guess time will tell. looks like a lot of fundamentals went out the window on many coins as of late. exciting times ahead