My CryptFolio Investment - Why I Diversified Profits From Ethereum To Litecoin
cryptocurrency·@jhcooper7·
0.000 HBDMy CryptFolio Investment - Why I Diversified Profits From Ethereum To Litecoin
<html> <p>I recently mentioned about my decision to move some of my stake in Ethereum across into Litecoin. I want to take this opportunity to provide you all with a greater insight into why I made this decision. It is then up to you whether you follow, I am not advising that you should. </p> <p><br></p> <p>Firstly, using my Cryptfolio Matrix, that I introduced <a href="https://steemit.com/cryptocurrency/@jhcooper7/the-cryptfolio-matrix-a-matrix-for-analysing-crypto-investment-decisions">HERE</a>, I am classifying this move into Litecoin as a House Fly. Why? Well, simply put, I’m extremely Bullish on Litecoin over the next 40-60 days. My analysis suggests that we could see a price increase of almost 100% within this time-frame; however, keeping with the category of a House Fly, I will look to make a new move once I feel a satisfactory price level has been achieved. </p> https://steemitimages.com/DQmazUix47yaRNM8fXQLqDdL3kz9KhT4ni5ejDN8m88G5EJ/Screenshot%202017-06-23%20at%2018.13.00.png <p><br></p> <p>Now let me explain in greater detail why I feel a move into Litecoin <em>right now</em> is appropriate. </p> <p><br></p> <ul> <li>So when I first introduced this move I talked about how Litecoin is in a perfect storm. Confidence in Bitcoin and Ethereum is low in a number of investors, who may be looking to diversify in order to secure some profits in the turbulent times up ahead. The split in the Bitcoin community and the looming actions planned for the end of July/ start of August means that many traders who are not emotionally attached to Bitcoin will look to move their money to a similar platform. After the recent struggles Ethereum has had with ICOs and the flash crash, I believe the stable appeal that led to its recent growth is no longer as appealing for the more nervous of investors. Litecoin, on the other hand, represents something a little different. The recent price rise in Litecoin has shown this analysis to be true, and I by no means think that was all the money that will flow from the 'Big 2' into Litecoin over the next few weeks. </li> </ul> <p><br></p> <ul> <li>Secondly, a webpage with an intriguing countdown recently appeared on the <a href="http://litecoin.mit.edu/">MIT</a> site that has a number of hardcore Litecoiners hyped. No one knows exactly what it means, there are rumours it could be a hoax, but there is a lot of serious talk about the page representing the countdown to a serious update release, possible the Lightning Network. Importantly for me, whether the web page is a hoax or not, personally I don’t think it is, the price will continue to rise as the end of the countdown (August 1st) gets closer. As a trader, the idea of ‘sell the rumour, buy the news’ is critical here! </li> </ul> <p><br></p> <ul> <li>Finally, Charlie Lee (the Satoshi of Litecoin) has just <a href="https://twitter.com/SatoshiLite/status/878551514104700928">tweeted</a> today about the upcoming addition of Smart Crypto-Vault (Mast & Covenants) to Litecoin. The expected release of a demo is early July. Again signalling the potential for a huge bull run in the next few weeks. </li> </ul> <p><br></p> <p>Few investment moves get me as excited as this one, I’ll be honest. I’ve been following Litecoin for a while, the community is super strong and incredibly devoted to the tech. The next few weeks could see a strong, faithful community getting rewarded for patience and hard-work. Most importantly, I’m looking forward to jumping on this ;) </p> <p><br></p> <p>As the Litecoin community would say, ARISE CHIKUN!<br> </p> This is part of a super regular segment I'll be doing, to make sure you don't miss out <a href="https://steemit.com/@jhcooper7"> click through to my profile and follow me! </a> Let me know in the comments below if you do, I'd appreciate it! Also, got any comments, questions or suggestions fire those at me too! <p><br></p> --- <p><br></p> <strong>Disclaimer: </strong> For legal reasons, this is not intended as advice, I'm happy playing with fire with my own money, I do not by any means suggest you do the same moves I do. I will, however, be posting them, and the reasons here, and if you choose to follow me, then sweet! </html>