Litecoin and profits for the small to intermediate investor
If there is anyone out there who got sold on the concept of Bitcoin being the premier , flagship cryptocurrency it's me. Getting to the point of purchasing 1.5 BTC among others, I waited patiently for BTC to reach 10k again like Mike Novogratz (SIC) suggested it would toward q4 '18. I waited since making my first investment and first mistake with crypto. The excitement was in the air ; people with no interest in crypto could still be heard to say "What is BTC up to now?? 12k?? (Early '18) To think I could have bought in at $20.00. !" Everyone hoped it would happen again.
BTC began to go down , as did other major currencies , yet the optimism combined with the F.O.M.O - combined with coming into some money, caused me to misidentify low point again and again.
BTC finally found it's way from nearly 20k a piece to the 6384.00 U.S.D. Fiat value as of this writing, and far lower.
The currency, and currencies do rebound and go back up , but for the past year we have indeed seen lower lows' and lower highs. I made many a mistake, Including selling , by accidentally hitting a button in tradeview , my BTC holdings right after the recent one day crash. I was beside myself.
It was in the midst of that upsetness that I began studying Litecoin, and noticed that even though BTC was mainly "up" still to some degree , and long have traded sideways, LTC was down.
I studied LTC and bought in low. 189.678898 LTC at approx 51.50. It is outperforming my BCH...not all that hard to do...- what I am getting at is that a middling investor might do well to study Litecoin. If you can afford 200 LTC , buy in low and wait , should it go up as little a 1$ you just made $200 if you cash out. If you do , wait for the next lowest price point and buy back in , because you'll be able to afford more. This is why I prefer it to Bitcoin. Instead of buying in low and waiting for it to magically hit 10k next month, LTC is cheap , for one and one half BTC one can own close to 200 LTC, and instead of waiting seemingly without end for the price to go up , or trying to swing trade it around the fees and slow transaction speed, wait instead for your 200 LTC , or 400 to go up only $2. Thats $400 and $800 respectively.
I will eventually purchase BTC again , but this is a story about a costly mistake and one way out of it. It is also a call for attention to well known altcoins , and the potential profits to be had with them.
With increaasing attention comes increasing regulation, there are well known whales out there who possess enough BTC to drive the price down on their own cash out.
With Litecoin posessed en mass , sold now at 52.14 U.S.D., I would garner 9866.09, while at 52.94 it is worth 10,017.46 U.S.D....
Ripple is a bit to volatile for my nerves these days , I could see it melting down quickly. Litecoin has been around far longer, and peaked in value around the time BTC did , but I believe that LTC is due for a bull run and with enough of it?? You just might be able to recreate and capture what all of that F.O.M.O. sentiment is about.
LTC also holds up better for gap trading, swing trading etc. unless you can afford 200 BTC, and even then , there are the fee's ( Please research those , aside from strategic errors , the biggest error I committed was entering into trade with "Coinbase." Some sites reward you with tokens (BNB - Binance coin) or decreasing fee's based upon trade volume (such as Bitstamp, already reasonable at 0.25% , the more you trade the lower the fees. Coinbase charges it's American customers on it's base platform up to 4% before waivers , and has a WILD point spread. I have more than 60 screenshots of dubious transaction fee's and an actual letter explaining that I had been part of "A small percentage of customers upon whom an experiment was performed related to fee's." Not only did someone write that , they hit send. Message me if you'd like to see the email or fees.
Good luck out there.
BTC began to go down , as did other major currencies , yet the optimism combined with the F.O.M.O - combined with coming into some money, caused me to misidentify low point again and again.
BTC finally found it's way from nearly 20k a piece to the 6384.00 U.S.D. Fiat value as of this writing, and far lower.
The currency, and currencies do rebound and go back up , but for the past year we have indeed seen lower lows' and lower highs. I made many a mistake, Including selling , by accidentally hitting a button in tradeview , my BTC holdings right after the recent one day crash. I was beside myself.
It was in the midst of that upsetness that I began studying Litecoin, and noticed that even though BTC was mainly "up" still to some degree , and long have traded sideways, LTC was down.
I studied LTC and bought in low. 189.678898 LTC at approx 51.50. It is outperforming my BCH...not all that hard to do...- what I am getting at is that a middling investor might do well to study Litecoin. If you can afford 200 LTC , buy in low and wait , should it go up as little a 1$ you just made $200 if you cash out. If you do , wait for the next lowest price point and buy back in , because you'll be able to afford more. This is why I prefer it to Bitcoin. Instead of buying in low and waiting for it to magically hit 10k next month, LTC is cheap , for one and one half BTC one can own close to 200 LTC, and instead of waiting seemingly without end for the price to go up , or trying to swing trade it around the fees and slow transaction speed, wait instead for your 200 LTC , or 400 to go up only $2. Thats $400 and $800 respectively.
I will eventually purchase BTC again , but this is a story about a costly mistake and one way out of it. It is also a call for attention to well known altcoins , and the potential profits to be had with them.
With increaasing attention comes increasing regulation, there are well known whales out there who possess enough BTC to drive the price down on their own cash out.
With Litecoin posessed en mass , sold now at 52.14 U.S.D., I would garner 9866.09, while at 52.94 it is worth 10,017.46 U.S.D....
Ripple is a bit to volatile for my nerves these days , I could see it melting down quickly. Litecoin has been around far longer, and peaked in value around the time BTC did , but I believe that LTC is due for a bull run and with enough of it?? You just might be able to recreate and capture what all of that F.O.M.O. sentiment is about.
LTC also holds up better for gap trading, swing trading etc. unless you can afford 200 BTC, and even then , there are the fee's ( Please research those , aside from strategic errors , the biggest error I committed was entering into trade with "Coinbase." Some sites reward you with tokens (BNB - Binance coin) or decreasing fee's based upon trade volume (such as Bitstamp, already reasonable at 0.25% , the more you trade the lower the fees. Coinbase charges it's American customers on it's base platform up to 4% before waivers , and has a WILD point spread. I have more than 60 screenshots of dubious transaction fee's and an actual letter explaining that I had been part of "A small percentage of customers upon whom an experiment was performed related to fee's." Not only did someone write that , they hit send. Message me if you'd like to see the email or fees.
Good luck out there.
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