Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Heavyweights Diverge: Sell Litecoin, Buy Bitcoin, Dump XRP, Buy Monero, Bet on LTC, Own BCH

by Daily Hodl Staff
April 4, 2019
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

The crypto rally has unleashed a debate on whether or not crypto traders should own Bitcoin, altcoins or a mix of both, and which crypto assets should be sold in order to lock down bigger positions in better investments.

Bitcoin bull Mike Novogratz, CEO of digital asset investment firm Galaxy Investment Partners and an early crypto investor, has made millions on timely crypto trades. He bought $500,000 worth of Ethereum when it was one dollar.  From 2016 to 2017, he cashed out enough Bitcoin and Ethereum to make a hefty $250-million profit.

Now the venture capitalist and ex-hedge fund manager is calling Litecoin (LTC) “a glorified testnet”. He tweeted to his 116,000 followers that they should sell Litecoin and buy Bitcoin instead.

Gold has an $8.5 trillion dollar market cap. Silver is $15bn That is .17%. $BTC has a $90bn mkt cap. $ltc is $5.7bn which is 6.4% of $BTC. Silver is at least useful for industrial production. $ltc is a glorified test net for $btc. I don't get this rally. Sell $ltc buy $btc.

— Michael Novogratz (@novogratz) April 3, 2019

With the nascent crypto space still under scrutiny, several followers tried to reign in the crypto bashing.

Novogratz is a smart man, but even he should know the crypto market doesn’t need any finger pointing or coin bashing. He’s heavily invested in BTC, and that’s great! If you don’t own Litecoin then don’t talk about LTC. This FUD isn’t helpful to the crypto space.

— GPSTrackerShop (@GPSTrackerShop) April 3, 2019

Veteran trader Peter Brandt would disagree with Novogratz’s assessment. In a separate tweet on April 2nd, he told his 261,000 Twitter followers that Litecoin is the real winner. He would also bet on Bitcoin, Bitcoin Cash and Monero. But not XRP.

$XRP – the manipulators have successfully defended crucial support levels. But with my $$ I would much rather own $BTC, $BCH and $XMR Though $LTC is the real winner among macro caps pic.twitter.com/SiipSqxJ39

— Peter Brandt (@PeterLBrandt) April 3, 2019

Brandt says the trading chart of XRP shows a descending triangle pattern that is symptomatic of market manipulation.

Says Brandt,

“I am not trying to troll XRP bugs or create controversy. I am simply stating that historically a descending triangle that works its way to the apex is a very technically weak situation. Don’t shoot the messenger when you don’t like the message.”

“Dynamics at work in a massive descending triangle that moves to apex.

1. Mkt is manipulated
2. Manipulators support at fixed level
3. But are forced to lower their selling price as time goes on
4. If (when) support gives way, desperation will ensue $XRPUSD.”

“The concept of the desc tri is that the market does not have enough power to rally any further and the manipulators keep getting every so desperate.”

Not all of his followers agree.

I respect Brandt for his long-term experience in the market. However, one misleading issue here. It is well known that Ripple is selling off xrp to fund their many start-ups to increase market liquidity and user case. More this and less whales that matter. Big implications

— Joshua Tilghman (@JoshuaTilghman) March 23, 2019

The crypto markets continue to flash red on a volatile Thursday.

The widespread sell-off and correction follow Monday’s sharp rally. At time of writing, BTC is trading at $4,865, down 5.23%. ETH dropped 10.31% to $156.05. XRP is down 10.21% at $.331. LTC is down over 12.15% at $82.56. BCH dropped 18.31% to $276.11, and XMR is down 10.77% at $62.49.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$46,978.00
$46,978.00
1.09%
Ethereum
$1,477.18
$1,477.18
0.09%
Binance Coin
$227.32
$227.32
1.45%
Polkadot
$34.02
$34.02
12.52%
Cardano
$1.45
$1.45
29.42%
XRP
$0.437705
$0.437705
1.45%
ADVERTISEMENT

Spotlight

  • Massive Bitcoin Whale Transactions Move More Than $1,900,000,000 in Crypto
    February 23, 2021
  • This Small-Cap Altcoin Is One of the Most Promising Projects of 2021, According to Coin Bureau
    February 26, 2021
  • Elon Musk Triggers Massive Bitcoin Breakout After Defending Tesla’s $1.5 Billion Investment
    February 20, 2021
  • ARK Invest’s Cathie Wood Warns ‘Valuation Reset’ Coming, Says Firm Plans To Capitalize on Wave of Fear
    February 24, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.