14 Feb Litecoin is pumping just in time for Valentine’s Day. Is it time to sell $LTC and take profits?
Charlie Lee sold his Litecoin for profit at it’s all time high in December. Now might be a good time for you to take some profits too.
Some of you out there reading this might be thinking, “WHAT? It’s only half of it’s all time high price!” But the truth is.. we are at the All-Time-High again right now.. in Bitcoin value.
As you can see in the 1st chart below in the LTC/USD pair, we hit an All-Time-High over $360 in Mid-December, selling off down lower than the $180 we are at today.
However, when you look at the 2nd chart in the LTC/BTC pair, we can see that we hit a new all-time high today in the Bitcoin value of Litecoin, over 0.02 BTC.
Perhaps some people are FOMOing into Litecoin because of the upcoming Litecoin Cash hard fork. Maybe some people of the weak hands are buying back in on coinbase and want more Litecoin while it’s cheap.
Maybe Facebook and other rumored partnerships will come to fruition one day, along with the lightning network, atomic swaps, partnerships with Monero, and much more. Only time will tell.
Until then, we still need to call profit taking opportunities when we see them. The historical price of LTC in BTC has ranged between 0.008 and 0.02 BTC for the past 10 months indicated by the yellow lines in the chart below.
Using this medium-term analysis on LTC, it’s definitely a good time today to take some profits into Bitcoin; or just HODL. This is not financial advice.