Not read it.
My understanding of 'short squeezes', is that there has to be a shit ton of short positions open in a particular asset class before a short squeeze can actually happen. Going by Finex swap data alone, on the 12th April, when Bitcoin was pressing up against $430, there were almost 18K BTC of swaps (margin shorts). Over the following 2 weeks that number reduced itself to 11.5K BTC, thus some 6.5K BTC of short covering helped propell the price up to the $470 range. There are currently 13K BTC swaps open. This isn't a typically high number, infact, it is very 'middle of the road. I would say that Bitcoin has already had it's 'short squeeze' and if this is going to pump higher, then there has to be a flood of new capital flood onto the Bitcoin exchanges. 90% of the weak hand shorters are already out.
If you look at BTC USD swaps (margin longs) data however, that tells a very different story. Currently just under $31.5 million worth of USD swaps on Finex. The record is $32.8 Million, which was hit on August 16th 2015. Go and have a look at how Bitcoin done after that date, and what happened to all those margin longs.
Interesting. What's your argument for being so bullish on Litecoin?
If Bitcoin pumps, then Litecoin pumps. No good reason for it. It just does. Just one of these self fulfilling prophecies.
