Litecoin started in April 2013 at Wave Zero, it then created a long base, and then a race to the top of about $320. A euphoric vertical spike is either a time for a big correction, or the end of the entire hype. One big mistake that wave analysts are making is that they are using a too high of a degree. For LTC being more than sheer speculation, we would have to see another spike to the downside.
I have no issue with anyone speculating, but investing in Cryptos is the dangerous part. Chasing a bull market always will lead to pain as we end up paying insanely elevated prices. The Crypto hype has been intense to say the least, and we would need a correction deep enough where the bearish news becomes intense. You can’t have a bull market without a bearish correction once in awhile. Many are calling Crptos Gold 2.0, but this is the furthest from the truth. The Gold/Crypto ratios tell us that. I use Goldmoney which is backed by gold and we know gold has seen some bearish news lately.
Cryptos is all about technology, and their rise matched the Nasdaq rise perfectly. If all the Cryptos, decline along with stocks, then that’s pretty good evidence that Cryptos are going to suffer some pain. Bull markets attract crooks and scammers, which the Crypto world has plenty of stories out to confirm this.