Will Litecoin Follow the 5 Month Consolidation Pattern Ethereum Needed to Move Much Higher?

Litecoin seems to be consolidating gains after a pretty lengthy parabolic move up for most of 2017. Ethereum consolidated for 5 months from June 2017 through November 2017 in a trading range below $400/coin (after another parabolic move higher early in 2017) before Ethereum finally broke out and went much higher. Do you expect similar behavior out of Litecoin? Will Litecoin now consolidate in a trading range similar to Ethereum? What about a similar time frame to Ethereum’s 5 month consolidation below $400/coin before Ethereum’s move up to around $800/coin now?

Charlie Lee’s comments warning about a possible Litecoin crash on December 11th https://twitter.com/SatoshiLite/status/940353265585160192 along with Charlie disclosing he just sold all his Litecoins to further avoid any conflict of interest http://www.zerohedge.com/news/2017-12-20/litecoin-founder-cashes-out-sells-entire-stake-after-9300-rally and to be more transparent seems to have prevented Litecoin from breaking out to further highs. However, Litecoin did not crash on the news that Charlie Lee sold his Litecoins and the dip in Liteocoin price seems to have been bought. What are your thoughts about what Charlie Lee did with his public warning and then selling all his Litecoin? Was it the right thing to do?

It seems the recent Tweets from Charlie Lee and his disclosure of selling his Litecoins have forced Litecoin into a trading range to consolidate previous gains before a potential move higher.

Please visit the Wall St for Main St website here: http://www.wallstformainst.com/
Follow Jason Burack on Twitter @JasonEBurack
Follow Wall St for Main St on Twitter @WallStforMainSt

Commit to tipping us monthly for our hard work creating high level, thought proving content about investing and the economy https://www.patreon.com/wallstformainst

Also, please take 5 minutes to leave us a good iTunes review here! We have 33 5 star iTunes reviews and we need to get to our goal of 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437

If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website.

Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it! If you want to reach us, please email us at: [email protected]

Will Litecoin Follow the 5 Month Consolidation Pattern Ethereum Needed to Move Much Higher?

Related Post:

About The Author

Kane Dane