Two Halvings Comparison: #BITCOIN vs #LITECOIN

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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Let's take a look at coins behaviour before and after halving. In this idea I will consider $BTC and $LTC charts. As you know, Litecoin's halving has already happened, while Bitcoin's halving is going to happen in May 2020.

We can see that $LTC broke through the down-trend resistance ±4 months before the halving and then the price reached the TOP point 1.5 months before the event. Down-trend started one month before halving and during the event, $LTC has already been moving inside the down-trend. Many people expected the down-trend to start right after the halving, but it happened earlier.

Well, let's back to $BTC. Down-trend was already broken and the asset is currently located in up-trend. #BITCOIN still has much time before the halving (approx. 90 days), which means that the next couple of months will be green for $BTC. The target point for this growth was mentioned randomly, it can be $12,000 - $15,000 or even $17,000. Depends on how much fresh blood will enter the market.

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So it happened exactly the opposite. That's why TA is BS
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+2 Reply
WidTrade Alex_Clay
@Alex_Clay, That seems about right! Some people are talking about going under 10k again, I dont know about that!
Alex_Clay WidTrade
@WidTrade, I consider the option we go under 10k but as a squeeze, not like we are back downtrend. However anything can happen
I don’t necessarily disagree with the results of your analysis, but I strongly disagree with your premise—that BTC will behave similarly to LTC around halving. First, LTC has a strong positive correlation to BTC, but it doesn’t mean that BTC has a strong correlation to LTC. Second, LTC halving had one very important variable not present here with BTC—that the BTC halving was coming 9 months after the LTC halving. Smart money likely used LTC halving news/hype as an exit, taking the proceeds and putting it into BTC. LTC miners likely switched from mining LTC to allocating those resources to mining as much BTC as possible before BTC halving (and miners likely sold most or all of their LTC before halving even occurred). You’re right that we will likely see some post-halving decline but it has absolutely NOTHING to do with LTC’s behavior and everything to do with fundamentals.
+1 Reply

Anyone same thought?
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