Hello guys,
I owned about 5000 LTC & I sold them when LTC/BTC pair hit 0.006 (1 BTC = 166 LTC). I frustrated about crash of LTC price & it's future. My thoughts behind of this decision is :
LTC is just a pump n dump coin. It has no worldwide acceptance like btc has. the market of ltc is very small & normally merchants don't accept it. the development team of ltc doesn't give any unique project for a long time. there is less discussion about it.
But, now , I see ltc price is just pumping to the moon...... 216% price increase of LTC/BTC pair. Why people sell their bitcoins for ltc ??
My decision was wrong
I owned about 5000 LTC & I sold them when LTC/BTC pair hit 0.006 (1 BTC = 166 LTC). I frustrated about crash of LTC price & it's future. My thoughts behind of this decision is :
LTC is just a pump n dump coin. It has no worldwide acceptance like btc has. the market of ltc is very small & normally merchants don't accept it. the development team of ltc doesn't give any unique project for a long time. there is less discussion about it.
But, now , I see ltc price is just pumping to the moon...... 216% price increase of LTC/BTC pair. Why people sell their bitcoins for ltc ??
My decision was wrong
Its important to diversify your crypto, you probably should have gone half and half. Im currently 50/50 bitcoin and litecoin. 1.) I would never dump all my litecoin at this price. Even now people were dreaming about $5 litecoin when we were @$30-$50. 2.) As long as bitcoin is strong we need a #2 coin and that is litecoin. You are in crypto for a high risk investment i assume might aswell reap the rewards of both coins.
Could you explain the reason why it is important to diversify our crypto?
personally i think that it is good to do that only if you want to trade, but if we are here for the long term the coin that has a better chance to survive in this scenario is only bitcoin, the other alt are always in competition with their own clone