You have a point: Litecoin price is relatively independent of Bitcoin price compared to other cryptos and it has its own upside potential. Still, a 39% correlation is, in my opinion, quite strong for a traditional hedge. Ideally, when choosing a hedge you would actually want something with a negative correlation to bitcoin price. Thus, while I agree that if you're looking for a hedge within the blockchain market, Litecoin may be one of the better options, currently traditional currencies are probably still the safer option (or currency-based tokens, if you want the best of both worlds and are willing to take a slightly bigger risk).
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If it was possible to resteem comments, I would resteem yours!
Folks, this is how you properly debate!! :)
Note the absence of strawman arguments -- which drives me up the f*cking wall, by the way! -- and acknowledgement of what I actually said!
And it's true...39% correlation is super strong for a traditional hedge. But if you wanted to stay within the cryptocurrency markets, I think litecoin gives you the best shot (among the majors). Further research may or may not make that point stronger, as I'm admittedly only looking at trailing month...I will keep you all posted!
Thanks for your kind reply! Looking forward to your follow-up!