I know there are quite a few people trading LTC, so a thought.
If you are an investor and not a day-trader, you got a confirmation to buy sometime between February and March. Anywhere between $30 and $45. From those prices to the June highs of $146, this is a good move. I mean even if one got in at the worst possible price (Dec.17 -$420) and closed positions to stop the bleeding in the $200 zone (March'18), they would still be able to recoup their losses with this move.
Cryptos are very irrational in short timeframes (common knowledge) and of course this is the reason why people with a clear conflict of interest try to persuade others to trade to get the "steak and Lambo lifestyle". Here's the thing though. Assets with very volatile short term prices, might prove to be extremely stable in high time frames (any Nasdaq stock will attest to this :).
So, if you got in early March and enjoy a triple digit profit, maybe it's a good idea to cash out and preserve those dollars for the next move? Why not be out and re-enter at $146 (June High) if this is just a short correction, than take the fall and lose more of those profits you have been waiting for a whole year (and a bit more). The cost of re-entering is very low anyway, so why risk it?
If you are an investor and not a day-trader, you got a confirmation to buy sometime between February and March. Anywhere between $30 and $45. From those prices to the June highs of $146, this is a good move. I mean even if one got in at the worst possible price (Dec.17 -$420) and closed positions to stop the bleeding in the $200 zone (March'18), they would still be able to recoup their losses with this move.
Cryptos are very irrational in short timeframes (common knowledge) and of course this is the reason why people with a clear conflict of interest try to persuade others to trade to get the "steak and Lambo lifestyle". Here's the thing though. Assets with very volatile short term prices, might prove to be extremely stable in high time frames (any Nasdaq stock will attest to this :).
So, if you got in early March and enjoy a triple digit profit, maybe it's a good idea to cash out and preserve those dollars for the next move? Why not be out and re-enter at $146 (June High) if this is just a short correction, than take the fall and lose more of those profits you have been waiting for a whole year (and a bit more). The cost of re-entering is very low anyway, so why risk it?