In my previous posts, I talked about the AI tradebot and its activities, and Litecoin going to US$1000 by March 2018.
I believe Litecoin has just found a new floor at US$301.43 !! Still plenty of value left to fill (all the dodgy Dollars/Tethers have to go somewhere).
I am still holding onto my Litecoin as I expect it to continue to capture the market as a cheaper and faster alternative to Bitcoin, and eventually reach 1/4 of the price of Bitcoin (similar to how gold and silver have a ratio, Bitcoin and Litecoin have a 1:4 ratio, in terms of the supply and technical specifications of the coin).
I believe Litecoin's current rise is not due to it's technical specifications, but is driven entirely by market exposure. It just so happens that 3 days ago Charlie Lee (the creator of Litecoin) appeared on CNBC and mentioned Litecoin. Litecoin's imagery also appears in many CNN and Fox news stories featuring Bitcoin and Bitcoin futures. Litecoin was trading for US$98 just THREE DAYS ago!
I am also anticipating that Atomic Swaps (between Bitcoin and Litecoin), the Lightning Network, and MAST (the smart contracts platform) are all going to significantly elevate the value and usefulness of Litecoin and Bitcoin as a medium of financial exchange in the real world.
If you have been watching the crypto markets the last few days, you would see mostly green, with a few small blotches of red (where even I thought the crypto was overvalued). The sentiment is extremely positive and lots of people are hopping onto the crypto investment train.
DO NOT BECOME COMPLACENT.
If (when?) the AI tradebot I spoke of gets reactivated, we are likely to see several days of massive wave-like movements of value being shifted from the Altcoins into Bitcoin and then back again. Essentially, the AI uses the mass adoption of Bitcoin to increase it's market dominance by making Altcoins a lot less desirable. When the big Altcoin sell-offs get activated, human sentiment is to quickly sell into a falling market and grab the next best thing they can see that's trending up. That's until the waves hit those shores too.
Eventually, battered investors settle for putting their money into Bitcoin. This is when the AI likes to cause a massive correction to teach those people a lesson.
Also like to mention that Bitcoin futures have have a positive effect on the crypto market, making people feel safer about cryotocurrencies, and promoting greater adoption due to it's new legitimacy within Wall Street.
.
Now to our last story - Japan, the first government to legalize Bitcoin, and also the origin of many blockchain technologies such as MonaCoin and Cardano, has now decided to stab their citizens in the back. Japan is introducing tough tax legislation that requires everyone owning crypto to have a detailed record of every single transaction they have ever made, every crypto bought on an exchange or sold anywhere, every crypto pair traded - has to all be recorded and taxed according to new capital gains system rolling out. I hope this kind of thing dies before it does any damage, just like China banning ICOs... for a few weeks.
Disclaimer: none of the above is intended to be financial of investment advice. Please do your own research and make your own conclusions.