With LTC having a circulation that's 4x bitcoins circulation, it seems LTC is following bitcoin in market cap by one bullrun.
This means that when we compare the prices, during bullruns Litecoin will reach BTC/4 high from the previous bull run.
2017 bullrun BTC reached a high of ~20k usd, depending on the exchange. If history repeats itself that would mean LTC reaches 20/4 = 5k usd during this bullrun.
Buckle up.
This means that when we compare the prices, during bullruns Litecoin will reach BTC/4 high from the previous bull run.
2017 bullrun BTC reached a high of ~20k usd, depending on the exchange. If history repeats itself that would mean LTC reaches 20/4 = 5k usd during this bullrun.
Buckle up.
Comment:
Supporting this idea of LTC following BTC price is the halvings; LTC is one halving cycle (4 years) behind BTC. BTC block reward currently is 6,25, while LTC block reward is 12,5. Next LTC halving will come around august of 2023, when the block reward changes to 6,25.
If we apply the stock to flow -model popularized by PlanB, this behaviour of LTC following bitcoin with 4 year (one halving cycle) delay makes complete sense!
tl;dr: buying LTC now is like buying BTC in 2017 before bullrun.
If we apply the stock to flow -model popularized by PlanB, this behaviour of LTC following bitcoin with 4 year (one halving cycle) delay makes complete sense!
tl;dr: buying LTC now is like buying BTC in 2017 before bullrun.
With double bottom and massive bullish divergence we are getting confirmation for the upcoming bullrun. Target is around 0.08 BTC/LTC.