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Litecoin Market Update June 5

BruceWayneBruceWayne Member Plus
Here's this week's market update for Litecoin

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We had a very turbulent week after last week's news about the potential fork as most markets sold off on large volume. Prices have stabalized and did not return to the $$1.30-$1.40 range which was a good sign as this shows more confidence in LTC. But anyone who has been trading this market as long as I have knows that LTC is always going to be a more volatlie market which significantly benefits traders/market-makers.

We're still just a few months away from the halving of the block reward so I still think anything below $2 USD is a gift. While other coins have gone through their block rewards halving, only LTC is margin traded along with BTC. I think we're starting to shake out a lot of the bears and in the coming months we should start seeing a gradual up-trend in both markets with some sharp snaps up as margin calls are enacted and bears are suddenly forced to buy. This of course isn't guaranteed but, if you've studied investor mentality in any marke,t you've seen this before.

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