Litecoin a ‘Significantly Overvalued Relic,’ Cryptocurrency Hedge Fund Claims.
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Proponents of litecoin the seventh largest cryptocurrency have long known as silver to bitcoin's gold the medium of exchange to BTC's store of value. Much like physical silver though litecoin currently trades well below its all-time high, having plunged to about $ 55 from a peak of $ 358 However, according to cryptocurrency hedge fund Multicoin Capital, even at that mark litecoin is significantly overvalued.
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A maturing market and a diminishing coinbase effect...
The texas-based fund via jain argues that LTC faces a variety of negative catalysts' with no bull case to offset them. First, Jain said that litecoin's 2017 bull run came primarily as a result of retail investors and immaturity in the cryptocurrency market. As evidence he cites the fact that LTC was the least expensive per-unit asset on coinbase. one of the most popular trading platforms among inexperienced cryptocurrency buyers - the most likely group to not recognize is that fractional coins.
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