The bottom of altcoins is really really low.
Wow, LTC fell already so much!!!! The bottom must be surely in, right?
Well, before prematurely crying out that the bottom must be in, because an altcoin fell so much, we just have to look at good old historical data.
We can see that LTC went back all the way from where it started during the rally of 2013 and subsequent bearmarket.
Started at around 1-2 USD, and ended at around 1-2 USD before the next uptrend during the LTC halving of 2015.
Fascinating, right? Contraty to BTC, the altcoins rise a higher factor during a bullmarket, but consequently also deflate much more during a bearmarket.
LTC, and this is also true by the way for other coins, XRP, ETH, it doesn't matter how they are called.
They remain altcoins, and as such are much more based on pure speculation, since they do not have the infrastructure of BTC. When this bearmarket ends at
some point in 2019, they could really be as low as before the whole 2015-2017 bullmarket started. Alwaqys keep that in mind, when buying so called "cheap alts".
Ultimately, they are ALL bound to BTC. Only when BTC starts rising again, they will also start rising. And not before that. But during the next BTC bullrun, LTC will probably reach 1000+ USD around the year 2021.
Well, before prematurely crying out that the bottom must be in, because an altcoin fell so much, we just have to look at good old historical data.
We can see that LTC went back all the way from where it started during the rally of 2013 and subsequent bearmarket.
Started at around 1-2 USD, and ended at around 1-2 USD before the next uptrend during the LTC halving of 2015.
Fascinating, right? Contraty to BTC, the altcoins rise a higher factor during a bullmarket, but consequently also deflate much more during a bearmarket.
LTC, and this is also true by the way for other coins, XRP, ETH, it doesn't matter how they are called.
They remain altcoins, and as such are much more based on pure speculation, since they do not have the infrastructure of BTC. When this bearmarket ends at
some point in 2019, they could really be as low as before the whole 2015-2017 bullmarket started. Alwaqys keep that in mind, when buying so called "cheap alts".
Ultimately, they are ALL bound to BTC. Only when BTC starts rising again, they will also start rising. And not before that. But during the next BTC bullrun, LTC will probably reach 1000+ USD around the year 2021.
But, if indeed BTC will go as low as 1200, you can do the math what that would mean for the Alts. Alt/BTC ratio would also tank even more, so the Alt/USD price would go down even more than BTC. ETH now at 90 when BTC at 3380 at time of writing. Imagine BTC at 1200: ETH at 30 USD, maybe even 20.
LTC: 4 USD.
XRP: 0,05-0,10 USD.
Take your favorite altcoin and just think where it will be when BTC hits 1200.
It is really unfortunate, but that is what altcoins ultimately are: Leverage instruments to trade BTC, and 99% are not much more. That is exactly where their function ends.
So, one can make good gains with alts in the Bitcoin bull cycle. But never forget that they can go down insanely in the bitcoin bear cycle. It never makes sense to HODL an altcoin. NEVER EVER !