To my eyes this is raw power, to stands it's ground in the face of multiple falling markets and to shrug it all off so easily should be as clear and straightforward a signal of intent as you'll ever get in this business. People seem to be watching the LTCUSD charts instead which is pointless imo, of course LTC USD price will erode via BTCUSD...but LTCBTC is the ratio that defines the relationship and it stands tall as clear as day.
This is it, as clean and clear as it will ever be. Accept your one true market. A signal this strong, this clear, in the face of BTC's uncertainty is literally screaming for your attention.
Also, other fundamentals that scream for your attention:
-.- you ask me to ignore LTCUSD, and merely trust in LTCBTC? I have sold all my litecoins and am shorting BTC. Just because litecoins are standing still in regards to btc doesn't mean anything. So far, litecoin has not managed to pull off any sort of parachute action so... although litecoin is an excellent investment once the chain wars end... its not so hot until that time.
Rotox
⋅
@Shaithias, That's purely down to your trading strategy, but for me this is a signal for LTC strength over the timespan of the chainwars. I am trying to accumulate LTC via the USD pair, but what I have highlighted here is the solid foundation on which I believe all LTC strategies can be built. Weak hands are losing money because they might be unaware that there are clear signals as to the strength of LTC via the BTC pair.
Shaithias
⋅
@Rotox when do you think LTCUSD will recover? A week after chainwar end? A month? Although LTCBTC is nice, unless btc recovers after the chain war, LTCUSD will be in the same boat as LTCBTC.
For litecoin to win, we need to see more than a solid resistance to fear. We need to see a cannibalization of bitcoin at 4x the speed that bitcoin is collapsing. (due to our 4x size) anything else will result in a net drop in LTCUSD, despite LTCBTC remaining strong.
Rotox
⋅
@Shaithias, In terms of USD price so long as we don't go below the point of capitulation(I've seen others estimates - Sub 26 afaik), I'm not going to worry. My strategy is twofold, accumulate LTC via USD where possible and take some BTC as LTCBTC goes up for holding longer term. As things stand at the moment, current moves have matched my outlook.
Rotox
⋅
@Shaithias, It posted the other comment before I was finished. From my PoV at least, Litecoin is shining through fundamentals, I don't know if we'll ever see the much dreamt of .25 LTCBTC, but I do know there is plenty of space between here and there. Charlies strategy is solid, Let BTC be the store of value, and Let Segwit tie the two together to fufill their own respective niches. You're right in that BTC can drag down LTC, but if LTC maintains it's own stability which I believe the LTCBTC pair is reflecting...then things look good for the long term and I can avoid worrying about the short term.
Shaithias
⋅
@Rotox, what do you believe is the capitulation price where people start executing ltcusd trades? If they start doing that, then we start decaying.
Rotox
⋅
@Shaithias, Agree, from other studies I think it's in the sub 26$ region, but if we reach that point, it's likely BTC will have gone sub-1300 and we'll be back to a multi-year bear market again...which I don't think will happen, or at least I hope not. If that's the case I'll just bury my trezor and forget about crypto for a few years :)