I really smell something cooking behind the scene for LITECOIN $LTC ! The Bull is still alive !
Why am I still holding LTC despite the hugh fall after Charlie Lee sold all his LTC.
According to @jetblake - https://steemit.com/bitcoin/@jetblake/china-s-plan-to-use-ltc-as-main-crypto-currency
The Chinese government 's long term plan to adopt LTC as their main crypto currency of choice for their silk road as they believe LTC to have price stability with careful steady growth. This is vital for their long term economic plans. The small withdraw cap on LTC will help price stability and maintain manageable steady growth. Getting LTC now is the best value for the dollar by far, China plans to bring 1.7 billion people out of poverty and provide cheap smart phones to allow them to participate in the silk road economy, using LTC as the currency.
However, I do see the last leg to go down before it will go back up again like BTC
The value of Litecoin at the moment is $247.17 . It has a current circulating supply of 54.8 Million coins and a total volume exchanged of $544,300,871.15. Market Cap $13,536,883,090.06
24h Low / 24h High $243.4101 / $252.8799
Litecoin does still seem highly under valued I believe 2018 will be a year for litecoin its always been sitting in the background to bitcoin while it should not be there are man advantages of it and I do look forward to the announcements of some of these things this year including the big surprise!
Have a nice day :-)
Considering China are going full blown assault against Bitcoin and subsequently, cryptocurrency as a whole - where are you getting your information from to go making statements like: "Chinese government 's long term plan to adopt LTC as their main crypto currency of choice for their silk road"
The Chinese are very patriotic people, particularly the government. If they'll support any cryptocurrency, it will be NEO.
Having said that, Litecoin is a great coin and it will always have a future and place in my heart. But I think saying the Chinese government will adopt it when they've made it clear they find cryptocurrency threatening, is a bit of a stretch.