Get the #!@! Out of Here!!

So I went to lunch with an old friend and we catch up on events of what happened from a year ago. This person does not follow Cryptos and just has a typical population knowledge of the technology. Mentioned that remember last year when BTC was at its' all time high last year about this time? And I showed him the current chart of BTC from the past year and he was surprised. I asked him how his son did on investing in BTC back in Dec, last year and he mentioned that he has not said anything so he probably lost all his money. He shared a story that he was listing some of stereo equipment online for a $100, and some agreed to purchase it. Person showed up and said I have $50 in USD and don't have any more money. Friend said to him to pull out money from the cash machine which the person said he had no more money. Person then offered to send him $50 dollars in Cryptos instead. At that point friend turned to him, looked him square in the eye and said "Get the F!@# outta here!". So as we can see mass adoption is still far away from the average Joe to use Cryptos as a currency of exchange.

For the Technical Analysis, as LTC continues its' downward slide there is a slight reversal on the weekly, but RSI still looks weak. Greater odds that it will still go down to here to meet Charlie Lee's target of $20. Interesting that people now are calling for lower i.e. $11, $4, 0 etc.