This blog post is a glorified (with some images and minor changes) copy pasta of my post on /r/cryptomarkets.
LTC – how low can it go? It might be time to take a shot with LTC for a potential bitcoin profit.
I have done this with LTC a few times – the best of which was last November. Priced in BTC, it is now near parity with DRK and below .01 … which isn’t far from the price I think I paid for a bunch of LTC right before the boom in November, when I started writing about trading in /r/cryptomarkets with “the golden rules for alt trading.”
One thing that makes LTC different from other scrypt alts is its very slow ditribution – it’s just as slow as bitcoin. To me, that makes it still attractive as a swing trade, because big investors are probably thinking about it. What do y’all think?
BTW, just looked. I decided to buy lots off LTC last year at .008, and it’s not far from this mark. I wrote the golden rules to this sub from a 5-star hotel (I don’t stay in those) thanks to that trade. Good times…