This commentary is for entertainment purposes only. This is not trading advise.
I believe that this sudden rise of Litecoin is a pump and dump, with the goal to pump it has high as possible in the next three days, and them let it drop to around $100 level. Why? because Litecoin Cash fork scheduled for Feb 17th. At the moment of the fork, whoever is holding Litecoin in their Litecoin core wallet will receive 10 to 1 Litecoin-cash coins. So, I see this as a maneuver of some (well played) to increase Litecoin holdings. I'm glad for you if you are riding this wave. Be careful, as always, of buying when the RSI is above 70.
I expect Litecoin to get dumped like trash this Sunday, And when it hits bottom you will see a massive re-buy wave (people increasing their coin amount).
I believe that this sudden rise of Litecoin is a pump and dump, with the goal to pump it has high as possible in the next three days, and them let it drop to around $100 level. Why? because Litecoin Cash fork scheduled for Feb 17th. At the moment of the fork, whoever is holding Litecoin in their Litecoin core wallet will receive 10 to 1 Litecoin-cash coins. So, I see this as a maneuver of some (well played) to increase Litecoin holdings. I'm glad for you if you are riding this wave. Be careful, as always, of buying when the RSI is above 70.
I expect Litecoin to get dumped like trash this Sunday, And when it hits bottom you will see a massive re-buy wave (people increasing their coin amount).