Today LTC hit a low it hasn’t seen in a long time, at the same time it’s apparent competitor, DASH, hit its ATH. At over $40 for 1 DASH, it is clear that the largest holders are taking advantage of the same fundamentals that we attempt to discuss here. Exploitation of the ill-informed, bad, and emotional trader.
However, there seems to be bleed from the whales that want to take advantage of the largest pumps, we saw this most recently with POT coin. As a result, Litecoin has lost a ton of value. Look at this picture that severely contrasts this post’s featured photo:
LTC is suffering. DASH is booming.
We’ll find out soon if DASH can maintain it’s popular position. A stamp of permanent approval would be use on a major darknet market. Monero will likely keep its champion spot among anonymous coins, but this meteoric rise in popularity may be foreshadowing an even larger announcement.
I hold no Dash, as I rarely buy coins that I notice to be pumping after the accumulation phase. My speculation is that as DASH begins its decline, Litecoin will return to its #3 spot.