As we mentioned in our article yesterday on Bitcoin' Cash we like Litecoin' here from a trade and overall Investment perspective. Back in early January when the correction was just beginning we put in two orders, which at the time looked to be ridiculous at 160 and 115. Both were filled subsequently and counter to the herd that was calling for 5000 and lower bitcoin we have since bottomed and appear to be entering the 5th wave of a longer term cycle. A rising tide raises all ships and in my opinion, Litecoin' is poised to be the clear winner of cash utility coins.
From a count standpoint Litecoin' has a larger supply then Bitcoin' Cash', DASH', Monero' and ZCash'. This from a market cap standpoint does not mean much, but psychologically from a purchasing point it means a lot. I get more coins for my money. This is why silver' is so attractive at these levels. I get 80 ounces of silver' where I would only get 1 ounce of gold'. It has a feeling that I'm getting more. In addition when gold' runs silver' outperforms because more hold it. I believe thing happens with litecoin' moving forward as Bitcoin' continues to climb.
From a market cap standpoint, Litecoin' is less than half the market cap of its largest competitor Bitcoin Cash'. From a fundamental standpoint Litecoin' is more widely held, is used more often, and is subsequently faster. These are not my opinions, these are plain statistics from bitinfocharts.com.
Litecoin' averages over 2900 transactions an hour compared to 700 for bitcoin' cash. Almost 2 billion in money is transferred every day compared to 350 million for bitcoin' cash. The average block time is 2.5 minutes for litecoin' and 9 minutes for bitcoin cash. Finally Litecoin' has over 200k active addresses compared to 42k for bitcoin cash. Clearly Litecoin' still leads bitcoin cash for market penetration and usage and I see no reason for Litecoin' not to challenge bitcoin cash in market cap. Especially with the advent of Litepay. Now I have not finished researching up on Litepay, but my initial thought is this is exactly what Litecoin' needed to do! For merchants this is huge and as a business owner where we are subject to charge backs from credit card companies along with ridiculous fees. Forget Tenx, and Monaco. Those coins are dead. As we spoke over a month ago, Litecoin' needed a catalyst and this is definitely a foot in the right direction.
The chart is also clearly stronger with an RSI over 60 and trading around 45% off its ATH whereas Bitcoin' Cash is trading just over 50 on the RSI and more than 60% off its ATH. Now this does not mean I am selling my Bitcoin Cash. What it does mean is I would rather be overweight Litecoin' here and Neutral to slightly Underweight Bitcoin' Cash.
Currently we have a 250-272 target level on Litecoin', with a higher extreme of 309. Short of breaking down through the 179 level we are on point to test the previous ATH or make a new one.
From a count standpoint Litecoin' has a larger supply then Bitcoin' Cash', DASH', Monero' and ZCash'. This from a market cap standpoint does not mean much, but psychologically from a purchasing point it means a lot. I get more coins for my money. This is why silver' is so attractive at these levels. I get 80 ounces of silver' where I would only get 1 ounce of gold'. It has a feeling that I'm getting more. In addition when gold' runs silver' outperforms because more hold it. I believe thing happens with litecoin' moving forward as Bitcoin' continues to climb.
From a market cap standpoint, Litecoin' is less than half the market cap of its largest competitor Bitcoin Cash'. From a fundamental standpoint Litecoin' is more widely held, is used more often, and is subsequently faster. These are not my opinions, these are plain statistics from bitinfocharts.com.
Litecoin' averages over 2900 transactions an hour compared to 700 for bitcoin' cash. Almost 2 billion in money is transferred every day compared to 350 million for bitcoin' cash. The average block time is 2.5 minutes for litecoin' and 9 minutes for bitcoin cash. Finally Litecoin' has over 200k active addresses compared to 42k for bitcoin cash. Clearly Litecoin' still leads bitcoin cash for market penetration and usage and I see no reason for Litecoin' not to challenge bitcoin cash in market cap. Especially with the advent of Litepay. Now I have not finished researching up on Litepay, but my initial thought is this is exactly what Litecoin' needed to do! For merchants this is huge and as a business owner where we are subject to charge backs from credit card companies along with ridiculous fees. Forget Tenx, and Monaco. Those coins are dead. As we spoke over a month ago, Litecoin' needed a catalyst and this is definitely a foot in the right direction.
The chart is also clearly stronger with an RSI over 60 and trading around 45% off its ATH whereas Bitcoin' Cash is trading just over 50 on the RSI and more than 60% off its ATH. Now this does not mean I am selling my Bitcoin Cash. What it does mean is I would rather be overweight Litecoin' here and Neutral to slightly Underweight Bitcoin' Cash.
Currently we have a 250-272 target level on Litecoin', with a higher extreme of 309. Short of breaking down through the 179 level we are on point to test the previous ATH or make a new one.
