Litecoin
$350.07 -13.60%
LTC · 190w

Should You Buy? Litecoin Opportunity Opening

READ THIS: I forgot to include in the video the exchange volumes for Bitcoin (https://coinmarketcap.com/currencies/...) and Litecoin (https://coinmarketcap.com/currencies/...). Click the links given to see % volume attributed to each exchange. You'll notice there is significantly more Chinese volume for Litecoin, hence more downside risk. Even with this, I still like Litecoin on the lower end of the $40 - 45 range.

As many of you likely know, BTCC (one of the largest exchanges in China) has decided to cease trading for Chinese customers beginning September 30th. This has sent the cryptocurrency market into a downward spiral, causing panic and also great opportunities. However, at this point, I recommend holding off on buying as there is too much headline risk currently. Given the rumors for ICO bans turned out to be true and now rumors for cryptocurrency exchanges being true, I suspect the other exchanges (Huobi & Okcoin) have a good chance of closing too. As such, I think we're in for just the beginning of headlines.

However, I do see a potential buy opportunity cropping up for Litecoin. Litecoin was one of the few cryptocurrencies that barely moved through the bulk of July and August, sitting between $40 - 45. While other cryptocurrencies skyrocketed, such as Bitcoin's move from $2,700 to $4,00...

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LTC -13.60% · cryptodaily.co.uk · 13h

A good read about Litecoin's potential

The Cryptocurrency market is ablaze with gains. As Bitcoin has moved sideways and altcoin dominance has risen, Ethereum has used this opportunity to power through $4000, but with such a large rise, si...