what's going on guys welcome back to a brand new video on this channel today I want to talk to you guys about litecoin what is the one on with like coin how when should you buy like coin like Kwanzaa will likely get a thousand dollars it's currently at what is it $321 all these questions I'm gonna answer for you guys right now in this video but before we get started if you guys are new to the channel and you have not subscribed yet make sure to do that I have a great video coming out on Thursday I believe it's gonna be teaching you guys how to turn a hundred dollars to a million dollars so I'm very excited for that video I think it's going to be a very very good one you guys don't want to miss it it's a you know hit that subscribe button hit that Bell icon so you guys are always notified every time you release a new video you guys want to be the first one in so the first one thing you guys are gonna have the advantage so make sure you do not miss that video anyways talking about litecoin let's see it's a look at the chart here umm it's at a 175 little over seventeen point five billion dollar market cap absolutely ridiculous currently it's trading at three hundred and twenty six US dollars I do believe it did go further than that though to just today will over the charts a little better later actually is use this one let's look at this chart let's try look a lot better so it was that here it shows a high at 342 crazy stuff this is I believe we are in a for our for our candlesticks so let's look a little bit at the chart so we look if we look not too long ago right not too long ago hide okay not too long ago November right start of November we were trading at 49 fifty dollars now this is one of the coins I told you guys a lot of other fees when I talk about my top five coins that I really thought was a bad idea to sleep on my coin it's just you know it was consistently going up just trending upwards trending upwards just calmly you know started on November it was trading at 49 oh you know end of November is trading it 60 70 you know profits right there it's a great percentage profits people who may County because of the the numbers we see when it comes to Bitcoin but this is absolutely ridiculous and then it shot up a little bit everyone's just say all wats testing a hundred dog whoa ok went back down right then this is the early December I think and then all of a sudden right now we just had it the crazy boom right the crazy boom we shot up one time kind of corrected shut up a second time so this charts have been absolutely crazy and now it makes everyone wonder how far is like coin going when should I get into like coin check inside coin now all those different things so hopefully I'm gonna be able to address most of those questions you guys have right now and by the end of the video we're gonna come up with a pretty pretty good understanding of what's going on and you guys can make you know an educated decision so if I was looking at the charts right now now the biggest thing that I do as someone who's messed around who's traded stocks before you know I'm no professional trader by any chance no professional day trader but I do understand how these things work I've you know traded stocks before and recently I've been getting a lot more into cryptocurrency and in doing a lot of my research when it comes to cryptocurrency so I don't recommend buying at all-time highs you know I don't like paying a premium for my purchases and I know a lot of the big cryptocurrency people a lot of the big investors are gonna agree with me on this they don't enjoy paying premium prices for things so we see that you know I know currently like coins not at the all-time high than it was but it is very expensive right now and we've just seen green rights just been green recently so so it's not looking like it's the right time to you know jump in and buy this at least for me I'm not going to be jumping in and buying it at the current moment but when would I buy it I like to buy things when I see a dip I usually can know where the dip is going to just by looking at charts it's usually not that hard to tell you can usually tell where the dip is going to and I prefer buying it when I think is reaching a low that way I know that I'm you know it's only up from here umm this like I said this is the 4-hour chart candlesticks but one of the things that sticks out to me is this one right here this is the I know it's like a 4-hour candlestick so it's not the greatest you know resistance level but this would be the first point I would look at when it comes to buying litecoin and after that then I probably would just look all the way back here if I think it's going to go all the way back here but this would be the first point where I would consider buying some more like quinton adding that to my portfolio so okay this thing is being annoying stop alright nevermind so anyways um I was done with that anyways bitcoin is continuing to go up now why is this important why is this an important thing for me to tell you guys this is because usually what happens is we see like we see um it's a go here we see the value of Bitcoin go up and the value of all coins go down because people are selling their all coins to get into Bitcoin and vice-versa so when people get out of Bitcoin they put their money into light coins they don't want to transfer it to US dollars they want to keep it in the market so usually we see when we see a move like this from like coin we would expect to see you know a pullback from Bitcoin but as you guys can tell we are near all-time highs again the only time we are an all-time high other than you know those few minutes where we were at almost 20,000 so this is basically our all-time high and it doesn't look like we're pulling back at all right we just had a pullback here so now it looks like we're getting comfortable to just shoot up so what does that mean that means that there's a lot of new money in the marketplace there's a lot a lot of new money in the marketplace people from that didn't own cryptocurrency didn't own Bitcoin or people that own Bitcoin but don't want to remove the money from Bitcoin because you know they have faith in it the money is coming from these people and that's really interesting that's really interesting because the more people coming into cryptocurrency you know the bigger chance of not not just adoption cuz that's something that I see is inevitable in the future we're going to adopt cryptocurrency it's going to happen but the more few that come in the more the price will rise supply a demand right there's only a certain number of coins and litecoin only has maximum supply 84 million litecoin right that's low more than Bitcoin but like four times Bitcoin but still it's it's not a lot to learn at Bitcoin it's only 21 million so it's four times that of Bitcoin but the price is nowhere near resembling anything like that so that's what I think is really interesting I think it's really interesting that we're getting more people in the marketplace and I see that too that's gonna help continue to make the prices go up and that's why I'm just very very big on you know making the right cryptocurrency plays holding some you know investing in mining investing and lending trying to get as much Bitcoin as I can I choose to like Bitcoin still my og it's my favorite once the one I want the most stuff I want you know have a hundred Bitcoin in my wallet at some point but I do also understand the value of the smaller coins that's why I also own some light coin not nearly as much but you know this is an interesting point to look and see if I will increase my position if like coin dips down to the points that I was showing before in case you guys missed it I might be able to pull it back might be able to pull it back here for us for us to look at exactly what I like when US dollar looks about right so oh right so look at that already we are seeing a pullback on light coin I'm looking at the $250 range guys I don't want to be paying any premiums $250 range is what I'm looking is so one of the things that I like to keep in mind um is you know the strategy do you have a strategy in place do you you know what is your long-term strategy when it comes to cryptocurrency do you understand trading and stuff like that and I'm gonna kind of break down my strategy for you guys and tell you guys where I see myself invest so we saw the $250 raise that's where I would get into litecoin I don't like buying things on green on green days I like buying on red days because usually if it's a good currency and I faith in that currency you know I have faith in Bitcoin Bitcoin has a red day or specially when has two red days in a row I know it's time to buy some Bitcoin cuz I had things going back up and when it does I'm going to profit a lot from it when it's green you know the Bitcoin I Full Faith bitcoins going to like $100,000 you know one to two years I truly believe that that's why I truly own a good amount of Bitcoin but I also don't like I'd can't bring myself to buy it on Green Day's that's why even right now with all this going on I still you know I bought some here but I didn't buy any on the way up here simply because I was I knew it was gonna go up I knew it was gonna go up but as a trader I needed to have that what's the word so I needed to have that self control that was gonna allow me to you know to continue doing well if I let myself lose control and buy some on the way up and just on Green Day's eventually that might come back and hurt me later so that's why I chose to not buy any Bitcoin and I'm also not buying any light coin right now until I see a good enough pullback where I feel comfortable getting in and seeing it rise after that now again this is really depends on if you're a short term or if you're a long term trader of cryptocurrency now it's short term if you're looking at this in like an hour term and you wanna buy sell buy sell look at this um it's currently red if I was to you know make a guess I would hold off because I think it's going to come down a good amount and then when you see this you know sufficiently low I would then get in and try and ride the boost and sell it when it's high that's what I would do in the short run in the long run though as I I mean this is just completely my opinion as to what I'm doing I'm just buying I'm just buying and holding I still see a long way to go on cryptocurrency so I don't believe in these small little pull backs and stuff like that I think this is way too early people are way overthinking this there is a lot of people who are still have to come in to cryptocurrency which is gonna drive the price up alright guys so hopefully you understood a little bit more about like coin what everything's been going on and sort of my position on the matter I know I can't give you a guy I can't tell you what to do I could just give you guys what I'm doing and you know my opinion on the current situations and where I see things going by no means was any of this financial advice you know you should always do your own research if you're not comfortable don't invest it's pretty much the golden rule if you're not comfortable don't invest but yeah hopefully you guys learned if you did smash the thumbs up button and let me know in the comments what are you guys doing are you waiting for the dip are you you know buying more right now let me know all that in the comments down below and also make sure to subscribe and smash that notification button so you guys are notified for the big video on Thursday if you guys are watch this after Thursday tunes go check out the video that ever at least two videos after this one it's gonna be good trust me it's gonna be good I'm gonna keep you guys updated I want to say too much about it but is gonna be good it's gonna be good alright see you guys tomorrow for another video