LTC - Just Waiting for a Catalyst - Marketing is Critical
THE HIGHWAY TO HELL IS PAVED WITH GOOD INTENTIONS
Litecoin' is quickly losing market cap and for two simple reasons. MARKETING and Lack of Direction!!!
Before I get all the comments on how great the coin is, how Charlie is a genius and has big things planned for 2018", let me inject what my grandfather would tell me when I would tell him that I had big plans to do something. "Son the Highway to Hell is paved with Good Intentions". This is how I feel about Litecoin'. All the potential, a genius at the helm, and in lieu of marketing, and a lack of direction, professionalism and outright childish tweets, they are quickly about to drop from the top 10 in market cap! You mean IOTA might pass them? YEP and I bet you don't see that tweet other than from maybe Roger Ver! IOTA' does not even have a working product! Those few days at #2 were as short lived as krispy kreme donuts at a weight watchers meeting. Two weeks later, barely hanging on to #9, and by a thread.
In fairness, the area they are in is cash transactions and this is going to be a dog eat dog space. I'm not sure Charlie is up for it. Roger has come out firing and is getting recognition whether you like it or not, and is positioning BCH' to be the coin for every day use. Hate all you want, and I do not care about number of transactions, Roger is serious and the market has currently decided which is better. Like those Linux guys that are now responding from MSFT' Windows. But there is Hope. Dash and or XRP do not make it to Coinbase ;). Just joking. A CATALYST! Litecoin needs a website makeover and a good marketing plan. I do not want to hear, they are working on it, I want results!
This is a longer term 2 day chart. Now the trend line is well defined with a beautiful trend line. I mean its just what we like to see. Though we had a nice rally we have pulled back to the 0.618 retracement around $145, recovered, appear to be consolidating into a nice trend channel. I love channels! My favorite trade and a low risk one at that. So if you are new to trading this is setting up nicely.
So I intend on trading out of the Darvas box by adding a position with a swing trade target of $375. At that point we will see how the market reacts. In the long term we have a $760 target level, however, we will have to monitor for any changes. This is not a buy here sell here trade. All we need to set the dominos in motion is a catalyst. Maybe we get a new website, maybe Charlie announces a partnership with Target. That would be huge for both! Bottom line we need a catalyst. Otherwise step by step LTC' will drop in market cap and more importantly market share. The trend does not have to continue up. We are not in Kansas anymore! Coinbase is adding and LTC' may be a has been like Yahoo!
Litecoin' is quickly losing market cap and for two simple reasons. MARKETING and Lack of Direction!!!
Before I get all the comments on how great the coin is, how Charlie is a genius and has big things planned for 2018", let me inject what my grandfather would tell me when I would tell him that I had big plans to do something. "Son the Highway to Hell is paved with Good Intentions". This is how I feel about Litecoin'. All the potential, a genius at the helm, and in lieu of marketing, and a lack of direction, professionalism and outright childish tweets, they are quickly about to drop from the top 10 in market cap! You mean IOTA might pass them? YEP and I bet you don't see that tweet other than from maybe Roger Ver! IOTA' does not even have a working product! Those few days at #2 were as short lived as krispy kreme donuts at a weight watchers meeting. Two weeks later, barely hanging on to #9, and by a thread.
In fairness, the area they are in is cash transactions and this is going to be a dog eat dog space. I'm not sure Charlie is up for it. Roger has come out firing and is getting recognition whether you like it or not, and is positioning BCH' to be the coin for every day use. Hate all you want, and I do not care about number of transactions, Roger is serious and the market has currently decided which is better. Like those Linux guys that are now responding from MSFT' Windows. But there is Hope. Dash and or XRP do not make it to Coinbase ;). Just joking. A CATALYST! Litecoin needs a website makeover and a good marketing plan. I do not want to hear, they are working on it, I want results!
This is a longer term 2 day chart. Now the trend line is well defined with a beautiful trend line. I mean its just what we like to see. Though we had a nice rally we have pulled back to the 0.618 retracement around $145, recovered, appear to be consolidating into a nice trend channel. I love channels! My favorite trade and a low risk one at that. So if you are new to trading this is setting up nicely.
So I intend on trading out of the Darvas box by adding a position with a swing trade target of $375. At that point we will see how the market reacts. In the long term we have a $760 target level, however, we will have to monitor for any changes. This is not a buy here sell here trade. All we need to set the dominos in motion is a catalyst. Maybe we get a new website, maybe Charlie announces a partnership with Target. That would be huge for both! Bottom line we need a catalyst. Otherwise step by step LTC' will drop in market cap and more importantly market share. The trend does not have to continue up. We are not in Kansas anymore! Coinbase is adding and LTC' may be a has been like Yahoo!
Bình luận:
I see a lot of comments on facebook and even amazon. #1 if facebook was to accept payments it would provably be through coinbase and it would accept all digital currencies that were available on the platform. why would they limit themselves to just litecoin? They do not care about litecoin holders they care about facebook share holders. PERIOD! #2 amazon has a partnership with JPM Chase so I doubt they will be accepting cryptos anytime soon unless its JP's himself.
Bình luận:
Well we needed a catalyst and Charlie Delivered. A clear breakout of the trend channel but I missed it. Before diving into and scooping up a bunch of LTC I searched to see what was the "Catalyst" for this move. "My Vision For SegWit And Lightning Networks On Litecoin And Bitcoin" by Charlie Lee. This is what LTC coin holders needed! Am I buying here. I think I will let the market absorb the news, as this would be an impulse buy and I do not want to buy on Impulse, especially with a short term target of $315-$330. I will be patient and let the herd run its course. Especially seeing a 1200 coin order on coinbase spoofing the market to the upside forcing buyers into the sell zone. I will wait to a pullback to a safer buy area in the $250-$275 area. We could easily retest the trend an channel. Could I miss out? Sure but the chance of going straight to $375 without consolidating are slim as I do not see the news being that huge. This is not an Amazon moment. This is an upgrade, and I am not sold on the lightning network anyways. But that is not what matters, its what the market thinks. Patience is key to not being schooled into the sell zone.
Bình luận:
LOL I guess that was in addition to another tweet. Gosh it said Jan 6th 2017 and its 2018. Still tooo early. Thank you archiechoe for pointing that out!. Regardless a nice move and either way the trade is still valid on that type of momentum. Not buying here though.
