FlaviusTodorius67
Short

LTCBTC will tank again before sharp rise

POLONIEX:LTCBTC   Litecoin / Bitcoin
Someone asked me if I could do an LTCBTC analysis, and here is my view.

LTCBTC has been historically on the decline. Ever since LTC was created, it kept falling behind.
At first it was the number 2 coin after bitcoin in marketcap, but it has been replaced by other coins.
And since LTC unfortunately does not have very unique features, I think this trend will continue.

So now that BTC starts its historic rise to 100-200k, what will that mean for LTC?
We will see a small rise now, but as BTC really picks up steam later in the year and early next year, LTCBTC will tank again.
LIke it did during the last two rallies.
It will make new lows. I looked at the historic chart all the way back to 2012, in LTCBTC it just keeps getting lower and lower, unfortunate, but that's how it is.
So now, we'll probably make a new low in the next 6-12 months, before the usual super sharp altcoin pump rise at the height of the bitcoin rally.

Hope this helps!

Comments

i think you're wrong here.... "And since LTC unfortunately does not have very unique features, I think this trend will continue." that's just not true at all, and will be even less true with Mimble Wimble, which will bring privacy to bitcoin... don't underestimate Charlie Lee... also, take a look at the bullish divergence on the weekly AND monthly. LTC is an oscillator with bitcoin
+5 Reply
SDlektric mwilson87
@mwilson87, Agreed!
+2 Reply
Yeah, I looking at either of these scenarios playing out in the near-term. We shall see:
+1 Reply
litecoin is a better bitcoin but after seeing this chart I dont want to buy it :P
+1 Reply
@Rastiazul, Hehe, but I also might end up wrong, so who knows :)
Reply
SDlektric Rastiazul
@Rastiazul, A single chart shouldn't the base for your decisions...
Reply
This coin its a true OG, so yes its a great analysis I agree, it might be on a global downtrend but far from dead!
Reply
good idea!
Reply
maybe it will never rise
Reply
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