As YOU my readers are aware, I'm pretty bullish on LTC and have been ever since I heard segwit was activating!!!
In these uncertain time, my resolve has not changed, and with BTC activating Segwit2x pretty soon I am even more excited.
IMHO DAILY CHART ABOVE SHOWS CONSOLIDATION
As you can see in the chart, LTC prices are still above the trend line which goes back 3.5 weeks, and the last resistance is becoming the new floor!!!!
I can see LTC testing the 38.2% confidence band ( or 38.25 USD equivalent) and then bouncing positively off of it which is a good indication that after this consolidation we will see an upward movement to around 0.025 BTC. The main drivers of this will be traders looking to move from BTC to LTC as a safe haven as well as smart traders increasing their position in preparation for the adoption of Segwit2X which will eventually allow for cross chain atomic swaps between LTC and the BTC network.
Another reason I'm super bullish on LTC mid to long term is MAST (Merkelized Abstract Syntax Trees) this upgrade will allow smart contract to be deployed on the LTC network in a fashion similar to that which is seen with Ethereum. While originally intended for the BTC network, Coblee's statement that it his intent that the LTC network be used almost as a testing ground of sorts for software upgrades before being rolled out into the more established and largest of all blockchains.
Atomic cross chain transactions will allow me to pay for anything on the BTC network using LTC!!! for that reason alone I can see LTC eventually being the #2 crypto with a valuation of 0.25 BTC!!!! Now this may not happen for a a year or so, but I feel it is inevitable.
All in all I wrote this as a pick-me-up to myself, my readers and the larger LTC and Crypto Community as a whole, especially the noobs!! With all the articles about how BTC will eventually reach the loftiest of prices, do not let this market shakedown shake you out!! HODL fast and remain strong, greater profits are yet to be had, but FORTUNE favors the bold.
THANKS FOR READING, SWEAR IM BOUT TO GET A FOOTER BANNER JUST GOTTA FIND THE PLUG!!!
UPVOTE, RESTEEM AND FOLLOW IF YOU AREN'T ALREADY!!!!
