The price of LTCUSD is now the longest bull market run since the run up to record highs back in 2017-2018. Moreover, evidence suggests there is still a bit of room to run before we run into some technical overbought territory as suggested by our SSI and sentiment indexes. While Daily FX does not provide sentiment analysis for Litecoin as they do for Bitcoin, we can definitely use this data on Bitcoin as a proxy for Litecoin as Bitcoin tends to be the market leader in price action because it is the higher liquid marketplace. Even so, we know that Litecoin and Bitcoin are clearly cointegrated. More on that and Litecoin here: anthonylaurence.word...inates-crypto-gains/
At any rate, we could still see some upward momentum in LTCUSD which, again, is a much better performer than any of its major peers in spite of its relative illiquidity compared to Etherum or its the crypto behemoth BTCUSD. That said, risk off sentiment will probably lead to price volatility in the crypto market if we see a broader selloff in other high risk markets such as corporate debt, or junk bonds. Expect that to also potentially occur definitely in the next year.
For more analysis, please check out www.anthonylaurence.wordpress.com and please feel free to leave a comment.
At any rate, we could still see some upward momentum in LTCUSD which, again, is a much better performer than any of its major peers in spite of its relative illiquidity compared to Etherum or its the crypto behemoth BTCUSD. That said, risk off sentiment will probably lead to price volatility in the crypto market if we see a broader selloff in other high risk markets such as corporate debt, or junk bonds. Expect that to also potentially occur definitely in the next year.
For more analysis, please check out www.anthonylaurence.wordpress.com and please feel free to leave a comment.