This is a chart on the 1W time-frame of Bitcoin (BTCUSD) and Litecoin (LTCUSD). This is not the first time we do this analysis, those who follow for long will know that during the previous BTC Cycle, right when it was consolidating after the December 2018 bottom, we used LTC's price action to identify similarities with historic price runs.
And yes, in the past two Cycles, Litecoin has been an excellent leading indicator to Bitcoin, showing the way with a first rally into the market's new Bull Cycle. As you see on the chart, LTC right after the market bottom, tends to make an initial rally and diverge from BTC while it is still sideways (green zone). Shortly after, LTC explodes to the upside with a strong rally, while BTC only posts a small rise (blue zone). Right after this, the Bull Cycle begins officially.
Litecoin has been rising since mid October, diverging significantly from Bitcoin. We can claim that we are already in a new Green Zone as at the same time Bitcoin is trading sideways. Do you think this correlation will play out once more? And if so, should we expect a small rise for Bitcoin in the final two months of 2022 and a new Bull Cycle starting as early as next year? Feel free to let me know in the comments section below!
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We aren’t bottomed yet , y’all need to relax haha. Because the Feds still at war to fight off inflation, we don’t know what will it happen next.
averkie_skila
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No, I believe the bear cycle should last until early 2024. I am more inclined to consider the importance of historical price corrections at 85% of the price peak in this period (after the $65,000 peak, this would bring the price to around $10,000). The price movement that is happening now has a potency to either $24,000 or $28,000 level. Then the bears will take over the market so roughly that you don't see something like this in every BDSM porn. Thank you.
BallsOfSteel32
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LTC is the crypto bellweather
Bitgolder
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Yes it is!
Th3Unkn0wn
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@TradingShot, Look on the hashrate of Bitcoin. It's raises a lot! Maybe you can it compare with other years.
RubenR
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bruh LTC? nothing wrong with having fun. love your work
AliyuCoinboy
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the chart told m nothing!! but l don't or l don't read it rightfully. no data on it!!
wsasdbo8
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Will see $800 Ltc ?
SwallowPremium
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Great job! Let’s have a great trading session, thank you!