We are slowly approching the $150 price target while BTC hit 25k. "Everybody gonna make it, just be patient".
Litecoin is trading around $132, there just few more bucks before we're going to hit $150 price target. All eyes are looking at litecoin, Bitcoin ride will make everything possible. Looks like it's time to do dun with LTC.
Well, IMHO, the Litecoin pump in price has something to do with the 1) the XRP slap down of proposed regulations 2)Litecoin on PayPal and 3) GrayScale Litecoin Trust.
With, the GrayScale Litecoin Trust, IMHO, responsible for just about everything, price-wise, for Litecoin, from $85 on up!
I mean, the GrayScale Bitcoin Trust (GBTC) sells institutional grade/legal Bitcoin stock? (not quite what to call this) securities? at 20% or more markup (I think this is correct)
just to get into the fund, over the BTC price.
This allows GrayScale to pump GBTC and make more wealth from adoption/investors to buy even more BTC and the FOMO and price
pump reflected in Bitcoin. Supposedly GrayScale has 'currently' 70% of all 'institutional investment' Bitcoin.
So, I think this article was December 7th, 2020....what did folks think were gonna happen, when after the success of the GrayScale BTC trust..when they now offer
a GrayScale Litcoin Trust!
Take profits/buy more LTC at 20% markup/LTC Grayscale trust securities go up/LTC goes up ..take profits ..re-put into LTC and Rinse/Wash/Repeat
This can only go on so long unless other players jump into this kinda thing as well (pretty sure this will start happening soon for LTC/BTC and/or other altcoins)
I just hope that 'someday' at LEAST Litecoin will be more than Craig Wright's Bitcoin SV, the 'fake' Satoshi...I mean it is just embarrassing that LTC is less than BSV..
I'll know LTC is in a 'safe' spot no matter the price, as long as it 'someday' becomes more than the sh*tcoin Bitcoin SV.
(good to have goals)
anyway, IMHO, why we are seeing Litecoin pump..this GrayScale Litecoin Trust and probably PayPal allowing to you buy LTC on top of this...also adds to the LTC pump!
time will tell
Brad