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EQLitecoin can easily 3x, but there are some downsides…
Litecoin $LTC can definitely do a 3x move, but personally I’m not the biggest fan from an investing perspective. And let me explain why. Currently price is pumping, you’re starting to see news come out about Litecoin that there is the potential for an ETF being released.
But for a project that’s been out since 2013, you would imagine that they’d at least have a little bit more news and macro relevance on Google. If you go to their website, it looks like they haven’t done any sort of changes or upgrades since 2014 as well. And then taking it a step further, if you go to CoinGecko and go to the max, you can see the all time chart for Litecoin.
And notice that from 2017, which is this high over here, all the way to 2021, you barely made a small increment on all time high percentage growth. We’ll use Bitcoin as a reference so you can see what it’s supposed to look like during a bull run when projects are growing relative to market cap. It should look exponential.
And there are some exemptions to this, which is like an XRP for example, which got into a major lawsuit before it could explode in 2021. Sure you can make decent money, maybe a 3 to 4x move. Me personally, I would not want to be holding the bag and become the ex of liquidity going into the bear run for a project like this.
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