With Litecoin (LTC) struggling to excite over the past two weeks, investors have been forced to turn their attention to a newly launched project with plenty of promise. And early adopters of this new project appear content with what they have seen so far. Unlike Litecoin (LTC), this new altcoin is offering investors something different.
Let’s explore why investors have quickly ditched Litecoin (LTC) and other top altcoins for VC Spectra (SPCT).
- A trading expert warns against investing in Litecoin right now.
- VC Spectra is benefiting from the dismal performance of LTC.
Litecoin Price Prediction: Why This Trading Guru Warns of Buying LTC Stock
LTC stock has been struggling lately after dropping 10% over the past two weeks. As a result, Litecoin (LTC) broke its uptrend and is now starting at the $55.85 support level. The lackluster performance has not gone unnoticed, as investors have been forced to look elsewhere for sustainable gains.
Interestingly, a trading guru has warned against investing in LTC stock. In a recent interview, John Bollinger shared his concerns with a leading crypto outlet. He appears concerned by Litecoin’s (LTC) underperformance against Bitcoin (BTC).
The legendary trader is famous for developing Bollinger Bands, a technical analysis tool. He goes on to add that “from a price perspective, the controlling LTCUSD feature is the 2-bar reversal at the lower Bollinger Band, which is typically considered a bearish signal by traders.”
As of November 30, Litecoin is trading at around $69.36. The price is significantly lower than the upper Bollinger Band, which shows a lack of bullish momentum for LTC stock. The latter part of the chart also shows a narrowing of the bands. This signifies a decrease in volatility and also happens before a significant price movement occurs.
That said, the narrowing of the Bollinger Bands in the weekly Litecoin chart might suggest the LTC market is tensing. And could be poised for an impending breakout or breakdown.
This analysis measures Litecoin’s (LTC) performance against Bitcoin since the latter leads to crypto market trends. Therefore, if Litecoin (LTC) isn’t keeping up with BTC’s movements, this can suggest a lack of confidence or interest from traders in the altcoin.
And this is quite apparent, as Litecoin (LTC) has lost 14% of its trading volumes over the past week. As things stand, the altcoin price appears to be struggling, and investors must approach Litecoin (LTC) cautiously.
Investors Move to VC Spectra After an Impressive Presale
Litecoin’s loss has been VC Spectra’s gain. The latter has seen its trading volumes rise as investors flock to the newly established project after an incredible presale. VC Spectra operates a decentralized hedge fund that exploits opportunities within crypto markets and offers them to its investors.
The opportunities can either be in early-stage ICOs, DeFi, or trading markets. VC Spectra (SPCT) will scour for early-stage blockchain startups with the highest chance of success and pool them into funds. These funds are accessible to investors through the use of SPCT tokens.
This is the governance token of VC Spectra that allows investors to stake a claim on a fund and get rewarded for it.
There are also funds that explore opportunities within the DeFi market. These include yield farming, staking, and lending. VC Spectra will analyze protocols with the highest returns and stakes on behalf of its investors. The returns are split among the investors depending on the amount of SPCT tokens they hold.
Finally, there is a fund that exploits trading opportunities within the crypto market. This fund employs algorithms and sophisticated trading strategies to maximize returns and minimize risks for its investors. As it’s the case with all the other funds, the more SPCT tokens one holds here, the bigger their share of profits and rewards.
It’s this utility that has driven investors to VC Spectra. The project has been running its presale over the past few weeks, with the price growing from $0.008 in the first round to $0.077 as of the fifth round. The VC Spectra team has made it clear that this is the final presale round.
With interest growing rapidly, the altcoin price is tipped to exceed $0.08 by the end of the round. Securing a 900% ROI for early-stage investors.
Learn more about VC Spectra (SPCT) and its presale:
Buy Presale: https://invest.vcspectra.io/login