Litecoin usually front runs Bitcoin in history. In the last bottom for Bitcoin back in 2018 you can see Litecoins bottom till when it started to move up again only lasted 82 days and was much shorter than bitcoins bottom which lasted 136 till Bitcoin started to go back up. Thats 60 days Litecoin front ran the next move in Bitcoin. Now look at this current bottom, Litecoin capitulated and bottomed in June 11, 2022. By then we thought Bitcoins bottom was in and it wasnt. Bitcoin capitulated and bottomed November 11, 2022, that 5 months after Litecoin did. Then while Bitcoin consolidated around the 15k mark for 2 months Litecoin started going up and by the time Bitcoin ended its consolidation at the 15k level and started going up, Litecoin was already up 125%. Bitcoin ended its most recent correction after 56 days back in October. Litecoin is still in the correction/consolidation phase now and its been 136 days. Its just taking longer just like Bitcoin took longer than Litecoin the last bull run. Litecoin is very close to a massive move up. If we were to assume it takes as long as Bitcoin took in the previous example then 5 months after would be in 14 days. Litecoin could be bearish for 2 more weeks in that scenario, but the Litecoin parabolic bull run is coming there is no question in my mind about that. Both of these cryptos are sitting on major multi year resistance. Nothing catastrophic has happened. This is just a range we are trading in. Also there is a possibility Litecoin is front running and Bitcoin slams back down to 20k again to touch its trendline like Litecoin just did. I dont know if this is what will happen or if Litecoin is just taking longer in consolidation like bitcoin took longer by 5 months the last time. Not financial advice.
LTC was a leading indicator in 2019 but has lagged Bitcoin ever since. it was a lagger in 2017 but still had a blow off top like other cryptos. It was always the last to pump in 2021 bull run. I do think LTC is very undervalued but I don't know if it's going to be a leading indicator for the total market.
Bitgolder
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@The.d.money, Litecoin outperformed Bitcoin in the past, just this last run Litecoin had a much deeper correction. Litecoin isnt going anywhere, thats why its one of only 4 cryptos allowed in the USA for institutional investors out of the million out there. Grayscale is filing for spot Litecoin ETF, I dont pay attention to the children buzzing about the new shiny thing on the block, Im looking at where trillions that want to get into this space are going to park their money.
unbeldi
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Why would one accept any alt coin as a predictor of Bitcoin, other than perhaps Ethereum. There is no reason to believe that a single coin would affect BTC with its massive market cap. A trend for the entire alt sphere perhaps, but not litecoin, even though the code was forked from BTC. The relationship is always in reverse. BTC leads, all others follow more or less.
Bitgolder
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@unbeldi, Litecoin is second oldest with closest history. ETH is newer
unbeldi
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@Bitgolder what has that to do with anything? We know where litecoin came from, and its market cap is not even 5 billion.
Bitgolder
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@unbeldi, I was simply pointing out it has the greatest history to bitcoin to find patterns.
unbeldi
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We have bitcoin itself to find patterns. Nothing more needed.
Bitgolder
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@unbeldi, Its nice when one can find another correlative pattern to use in trading. Anything to get an edge is useful.