A quick look at what is happening with Litecoin as I have had a few requests around the place, so here it is….
The Global Market cap has almost halved since December 2017… but LTC has fared far worse, at one quarter of the price it was at the ATH -0.02% (All time high).
The reason is also there are so many new coins and tokens all vying for that piece of half pie that many coins like LTC are struggling to keep up.
We are about 6months into this bear market… how low can we possibly go ?
Price is currently sitting on the 0.78 Fibonacci retrace line, although while we may get a small bounce here, I believe we are more than likely headed much lower to the 0.88 Fibonacci which is around the $45.00 mark. which is almost one tenth of the ATH -0.02% price tag!
Let’s hope we see some money coming in soon, and the market pick up and go back in the right direction… the mood everywhere is of deep depression….
Hopefully by the 0.88 Fibonacci the smiles will be back!
So for now… Safe and happy trading!
REMEMBER IF YOU ARE PRACTICING SAFE… TRADING ALWAYS USE PROTECTION
(minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
The Legal stuff – I’m not financial adviser. Just a few quick thoughts – remember you sit at your computer, you push the buttons…