Good news eclipsed by the big Bear

4 Şub 2018

For those who haven't sold their coin yet and try to figure what the **** is going on and for those who sold their crypto and look for the perfect timing to come back again, the only thing that is certain is the uncertainty of the market.

I don't want to take a deep dive into the actual bearish market, as many people on this website and all over internet have already covered that.
Very brief summary : (that you can find in my previous analysis)
- South Korea Sanction who impose a link with an actual bank account.
- Media and big banks analyst calling the actual phenomena a "Bursting Bubble"
- Big mining company wanting to invest in a 5k USD BTC in order to sustain their activity
- Miner activity slowing down due to high cost high-end GPU (and no supply)
- High numbers of new coins and Crypto Universe growing
- etc.

For LTC, the price curve looks like all the other maincoin, without big surprise. The only difference is very interesting and due to their "Gamechanger announce" LitePay.
This big news drive the price up 64.07% in a matter of hours. However, the bear still has the big advantage over the good news. Therefore we can say that the fundamentals of cryptocurrency remain the main driver and eclipse all good news whatever they are.

Talking numbers : The price touch 106 USD last week, this could be identified as a support, but in the current context, all numbers have become irrelevant. We can easily imagine the price going down until 56 (price before the high soudain rise). The exponantial and simple moving average are indicating a strong buy but it doesn't really matter for the same reason.

We should expect the Korean Buy Side returning to the market in the following days or week. The KYC process could be longer than announced due to high volume. This could refueled the market with fresh money and thirst for growth.

Analysis done by The Foil
05.02.2018 12:20 AM CET

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