A few weeks ago, during the bearish trend, I noticed that LitePay had emerged out of the woodwork as a major hot topic. I also noticed that there were more and more positive rumors surrounding adoption and partnerships for Litecoin. The most important thing that I noticed though was that the price of Litecoin had remained stagnant despite all of this positive news. Now, I know some day traders/short term traders adhere to the principal of not trading based on news, but I disagree, especially in this market, which is far less manipulated than the stock market.
With the stock market, there are many different ratings agencies that can make or break a stock. That said, although we are beginning to enter an era where ratings are valued above general public sentiment, I think that crypto is still a market where that public sentiment has more sway than others. So, if money is going to flood based on news, it may be time to buy. The fact that the price hadn't jumped yet made me see it as a deal, so I picked up about 3 Litecoin at $145 each. Now, this isn't huge money because unfortunately I was in some other positions I didn't want to leave at the time, but I was happy with the 3 because I saw a spike coming.
Lo and behold, it hit about $220 yesterday/today, which gave me a healthy profit which I was happy to put into Steem Power, because we are LONG overdue for a spike back into the top 10 crypto market cap list. I truly believe it is imminent because of the coming SMTs and the growing Steem Economy, so I'm putting as much as I can reasonably put into Steem Power for the foreseeable future and ESPECIALLY when it is under $5 still. I'm getting in before it's too late because there will come a time in the near future I think where Steem is worth $20 and I can see it hitting $100 one day. Litecoin could go up more, sure, but I KNOW that Steem will spike in the near future. Only a market catastrophe will keep it down! Steem will be a huge community for decentralized development and that time is coming! I'll hit 10,000 Steem before I know it!
Steem Long And Prosper!
AS ALWAYS, WISHES OF WEALTH AND HEALTH TO ALL! :)