Is Litecoin a Buy After Its Recent Surge?
Litecoin (CRYPTO: LTC) just popped 16% in about a month. Bitcoin (CRYPTO: BTC) managed a 7% gain over the same stretch, while the S&P 500 (SNPINDEX: ^GSPC) eked out a 2% return. Is it time to cue the fireworks at the Litecoin Foundation's Singapore headquarters?
It might be too early. Zoom out a bit, and the picture looks less impressive. Over the past year, Litecoin has dropped 60%, while Bitcoin has fallen 44% and the S&P 500 has gained 19%.
Litecoin is underperforming both the stock market and the largest cryptocurrencies over longer periods. This recent bounce looks more like a partial recovery than a breakout. So is this a buying opportunity or a dead-cat bounce in the middle of a long decline?
Source Fool.com
