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In 2017, when the encryption prices were at their peak, Charlie Lee made a very interesting comment on the price of Litecoin (LTC). He claimed that anyone who can not afford to watch Litecoin (LTC) go down to $ 20 should not invest in it. True to his call, Litecoin is now trading in the $ 20 range, a huge drop from the highs of 2017. Although it may have been a casual call, Litecoin at its current price seems very interesting. There would be a good reason to believe that Litecoin (LTC) could have hit the bottom, or it is very close to it.
One of the factors supporting this assertion is the fact that Litecoin (LTC) is strongly linked to Bitcoin (BTC) in its development approach. Its price also tends to move very close to that of Bitcoin (BTC). Basically, if Bitcoin has hit the bottom, it is probably the same as Litecoin (LTC). At the moment, Bitcoin (BTC) is constantly above the 200-day weekly moving average, which is an annual level of support. If this support holds, then Bitcoin (BTC) could actually have hit bottom. In that case, then Litecoin would have probably hit the bottom of the $ 20 price range, the price level that Charlie Lee was talking about in 2017. This makes the current price of Litecoin (LTC), a relatively safe entry point for long-term investors.
However, even if Bitcoin (BTC) does not hold above the 200-day moving average at $ 3100, the fund would not be very far from it. Bitcoin (BTC) has a huge intrinsic value in terms of security, real use of market adoption, which means it can not go anywhere. The same applies to Litecoin (LTC). Litecoin (LTC), like Bitcoin (BTC), has made tremendous progress in terms of adoption. It is one of the most widely used cryptocurrencies on the market. Litecoin (LTC) is also widely available on all platforms on which Bitcoin (BTC) is present. This ease of accessibility makes Litecoin (LTC) a highly liquid cryptocurrency, which in itself is a source of value and stability. Litecoin has achieved this goal thanks to its strategic alignment with Bitcoin (BTC), and will bring it to the top. This strategic positioning derives from the idea of cooperation rather than competition with Bitcoin. This is a big problem because it opens the door to the adoption of Litecoin, wherever Bitcoin is adopted. This close alignment with Bitcoin (BTC) also means that Litecoin (LTC) could see it grow in value as Bitcoin sidechain once the Lightning network gets mainstream use.
Litecoin is also supported by a strong community, which is a great source of value. His team of developers is also great and active in trying to improve Litecoin (LTC). With such strong fundamentals, Litecoin (LTC) is undoubtedly one of the cryptos to watch in 2019 based solely on fundamentals, and cryptos currently depresses prices.
Perhaps the $ 20 range is the magic area, before a rebound that brings Litecoin (LTC) to its all-time highs. But even if it was not, the downside risk for Litecoin (LTC) at current prices is much lower than its upside potential. It will be an interesting 2019 for Litecoin.
