mxcrypt

Vertcoin (VTC) - Significant Profit Potential Ahead?

BITTREX:VTCUSD   Vertcoin / Dollar (calculated by TradingView)
VTC Fundamentals
VTC             is an old project which has a very similar character to Litecoin (LTC). The currency has been well known for quite some time, and I believe that it may be significantly undervalued. VTC             has a low circulating supply (42M) and max supply (84M) giving it significant upward potential. It has the character of a slow mover in terms of the cryptocurrency world, but it tends to hold its value. With its grass roots development and sound history, VTC             has demonstrated itself to be a reliable open source project. In short, VTC             is the Linux of Altcoins!

Summary Technical Analysis
The chart above is my own detailed technical analysis of VTC             . If one confines oneself to look only at daily patterns (market close), a beautiful pattern emerges. VTC             is in the midst of a long term 1-3-5 Elliot Wave pattern. On the 1-2 branch and 3-4 branch of this impulse wave, there have been A-C-E triangle corrective phases. These triangle corrective phases between each upward push are highly symmetric if overshoot due to large capital injection into the crypto market cap is neglected. Note that VTC             exhibiting these A-C-E corrective phases in between bull runs is somewhat different than other Altcoins, which typically have short deep corrections between each branch of an 1-3-5 Elliot impulse wave. The VTC             correction waves seem to last about a month.

Outlook Moving Forward
It is my opinion that VTC             will begin to appreciate in value by the end of the month. Analysis by Fibbonaci numbers suggests a price in the 15-20$ range per coin on an extended 5th of the first 1-3-5 impulse wave. Note the fractal slopes of 20 degrees for correction and 70 degrees for bull runs. This is a common pattern which appears quite frequently in Altcoins. Additionally VTC             is a low market cap coin, and it is certainly feasible that it could reach new heights in price a sentiment builds around an alternative to LTC. Also since this is the first Elliot wave sequence on VTC             , one could look at VTC             as a ground level opportunity - similar to when LTC was in the 5-10$ range. As is seen in other with other Altcoins, a second impulse 1-3-5 wave could send the price up into the 80-100$ range later this year. However, since VTC             tends to move slowly, hodl your coins for the medium to long term.

Confidence level: 3.5/5
Keep it real
@mxcrypt


Standard Legal Note
These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article.

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BTC             Wallet :3PPENyabp2gsEfNahLyhMsgdwtjbodrtFm
ETH Wallet :0x7792cB95e9faa8B4049c88dD0dD567Cb843bc696
LTC Wallet :MXDmNsYKccTxnyXe4vpq3XrbstHsKex9S9
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