Litecoin Comeback - Explanation of the Bigger Picture

With incoming segwit activation and news I expect BTC to have bigger drawback. Currently we have the situation, that BCC becomes more profitable to mine than BTC and miners switching to BCC. If BTC drops this effect becomes stronger, since dropping BTC becomes less and less profitable. If miners switch to BCC this will slow down the BTC network and re-adjustments of difficulty can take weeks. This could possibly result in a domino effect and btc dropping even lower.

People will look for exits in USD/EUR or altcoins with good reputation. I think ETH, BCC and LTC will profit the most. ETH because it has a really good entry point at the moment, strong project with second biggest marketcap and ethereum alliance give people trust. Moreover we have ICOs ahead. Not many people I talked to trust in BCC. It is still easiest for miners to switch. Many funds are still locked somewhere, which decreases the offer. Last but not least, Roger Ver and his folks have a lot of cash to push their project. LTC is the most similar to BTC at this moment, has no darama about forks and community behin charlie lee is really strong.

The red lines show possible resistance where you could sell to re-enter later.

GL HF guys

Comment:

first resitance hit. probably sell/re-entry later