We're looking at the early stages of a bitcoin bull run. People have noticed that in the last two big bitcoin rallies (April 2013 and Nov 2013) the ltcbtc pair rallied alongside btc, meaning that litecoin yielded a higher return than bitcoin during those rallies. This chart shows that the ltcbtc pair didn't rally until a few weeks after the bitcoin rally began, which may explain the expected ltcbtc rally has not yet materialized even as ltcusd and ltccny remain bullish. Original idea for this chart from twitter.com/pterion2910/status/737033445063467008
I believe we must break ltc/usd 5,4, as long as we haven't broken that line, any btc rise pushes us down.
515k
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We're a few weeks into the BTC rally now, when do you think LTC will start converging?
jackfru1t
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Maybe with a week? ltcbtc is in an OTE area (it may even have started to reverse, but it's too soon to say). If it doesnt reverse i the low 700ks it might get to the 500k sat area it was at last summer before taking off. I think the reversal is very close though.
AndreyDrogal
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In a few weeks. But I think LTC/BTC will not go up, because now we have Ethereum.
jackfru1t
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That is definitely a possibility - ethereum has replaced ltc as the #2 coin. Still, patterns have a habit of repeating themselves in these markets.
blackswan
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i doubt ethereum is going to replace litecoin. litecoin is no doubt simple yet it survived all the ethereum ancestors such as NXT, XRP and some other mambo jambo coins that were threatening to dethrone even bitcoin itself but ended up in 0.0000xx levels. look at these coins past and you will see how they were pumped beyond anyone's belief. ethereum offers nothing new its just over hyped and a "novelty to misguide noobs and profit from". bitcoin and litecoin will stay around for a long time to come simply because of their simplicity in doing what they do best while coins like ethereum cause silly investors and noobs losses in millions.
jackfru1t
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Well, I meant in terms of marketcap, but yes ltc will stay around for a long time.
harposox
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Different constituencies IMO. LTC has two major markets (and market makers): China and BTC-e. Would either of these leave all of that profit on the table during a massive bitcoin pump? I seriously doubt it.
AndreyDrogal
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Forget "china's" argument talking about LTC. This is not actual already.