I want to buy LTC. Which I have been thinking of preserving for a long time. Will it be profitable.
Litecoin is a preferred method for sending crypto to and from exchanges while Bitcoin has been used for like "storing".. Currently,
LTC price is playing around $127-$136 which is still pretty far from its over $300 All time high before. It couldve been more great if you were able to buy Litecoin last year around $40 so you will be able to make load of profit from today's LTC price.
But in my opinion its still not that late to buy $LTC actually, just do not buy when its pumping, always wait for the correction/ pullback of the price. Try buying a bit of LTC first then you decide whether to invest more or not, you can try buying on kucoin for now since there's good volume of ltc there and low fees, their bot might help you a lot to gain even more from investing on LTC too
It is advisable to buy now actually, since January 19, six more whales have joined the Litecoin network holding between 100,000 and 1,000,000 coins ($12,800,000 and $128,800,000), which shows they believe LTC price is bound to rise higher. Additionally, the MVRV (30d) indicates that Litecoin is currently inside the dip-buying zone, which usually leads to a significant breakout and uptrend in the upcoming days.
Despite Litecoin price going down for the past several days, the number of daily active addresses has continued to rise. Similarly, its social volume also had significant spikes in the past week, adding more credence to the bullish outlook - but if a breakdown happens below $112, it's a significant indicator that $80 is about to happen as well. Trade at your own risk!