Litecoin Explosive Rally Incoming LTC USD

May 28

I havent done charts in a while and I apologize but Ive been extremely busy with some new ventures and its been sideways anyways.

I believe that we are entering the final stages of this almost 8 year consolidation. The chart and the indicators are pointing to a massive rally for Litecoin starting probably in June. What I dont know is whether or not this is going to be extremely explosive and fast or whether it will be a long multi year bull market. My initial thoughts are that this rally will be explosive and fast. I believe that once it starts within 6 to 8 months the top will be in. This is a mid cycle correction for Bitcoin in my opinion. The final blow off top for this cycle for Bitcoin is coming and this will propel Litecoin to new all time highs similar to the 2017 rally where Litecoin went straight up for 6 months. Dont forget Litecoin usually goes up at the end of the Bitcoin cycle which we are entering now. Bitcoin tricked a lot of people making them believe that this was the bear market, when in my opinion this was just the mid cycle correction. The final leg up for Bitcoin will be around 500k with potential for much higher prices if this blow off is extreme which I think it will be. I dont know exactly how high Litecoin will go on this run but Im expecting anywhere between 5-10k. Not just based on hype but fundamentals as well. I believe that this next rally will push alot of people out of Bitcoin and into Litecoin as it did in 2017 but on a much much larger scale. I know Ive said this before, this time I am more confident than any other time before that we are going to explode from here within the next month. This is just my opinion, not financial advice. Good luck my friends.

Jun 4

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This is a reply to a comment below but I want everyone to see my thoughts on this, I think its important to put things into perspective. Plus it was too long I ran out of space.


catscharts, Yeah, it’s been an extremely long and grueling consolidation, but when you step back and look at the bigger picture, it actually makes a lot of sense. Litecoin went parabolic and did roughly a 100x in a very short window back in 2017. Moves of that magnitude almost always require a long period of redistribution and digestion afterward. What we’ve seen over the last 8+ years isn’t really nothing happening, it’s been a slow, grinding process of shaking out weak hands, redistributing supply into stronger hands, and allowing the market to reset after such an aggressive vertical move.I like the bouncing ball analogy . When you slam a ball down with maximum force, it shoots up extremely high, slams back down hard, then bounces again, but each subsequent bounce loses a bit of energy and height. Over time the bounces get smaller and smaller until the ball eventually settles. That’s essentially what Litecoin has been doing. The initial 2017 move was so violent that the corrective bounces were also violent and fooled a lot of people into thinking the bull market was still intact ,or that it was crashing to zero. Now we’re in the later stages where the bounces have become very small and tight. In my opinion, we’re getting close to the point where someone picks the ball back up and gives it another strong bounce.
What gives me conviction here is the macro structure. Litecoin never broke down into the abyss below its 2017 corrective low around $20. It has consistently held the longterm upward trendline and has been printing higher lows on the higher timeframes. That kind of behavior after a 100x move usually points to consolidation and redistribution rather than distribution into a bear market. Strong projects tend to do this, they digest massive gains instead of giving them all back.On the Charlie Lee topic , this is something a lot of people overlook. The fact that he sold the vast majority of his Litecoin in December 2017 was actually a very important event for the project’s longterm regulatory standing. By removing his personal holdings, he eliminated a major conflict of interest argument that regulators could have used against Litecoin. This likely played a meaningful role in Litecoin being viewed more favorably when it came to commodity classification discussions with the CFTC and SEC. Whether someone whispered in his ear or not is speculative, but given his background MIT, Google, early Coinbase, and being one of the original OGs who knew many of the early Bitcoin figures, it wouldn’t surprise me if there were conversations happening behind the scenes that most of us will never know about. Sometimes these moves that look bad in the short term end up being extremely important for longterm survival and legitimacy.Most people dont understand why Litecoin ran in 2017. A lot of people dismiss it as pure hype, but that’s not accurate. The real driver was Bitcoin becoming almost unusable due to extreme fees and congestion. People and businesses actively needed an alternative, and Litecoin benefited directly from that and held alot of those users till today which is why Litecoin is the most used crypto on the biggest crypto payment platform Bitpay and has been. Fast forward to today and the situation is arguably even more concerning for Bitcoin longterm. Bitcoin still hasn’t meaningfully scaled, and the recent OP_RETURN changes have made it easier to spam the chain with large amounts of data. That spam stays onchain forever and will continue to bloat blocks. In the next parabolic Bitcoin move, when demand for block space spikes again, we could easily see fees return to or exceed the extreme levels we saw in 2017 except this time there are far more holders like 10x more and much more capital competing for the same limited space. When it starts costing hundreds or even thousands of dollars to move funds on Bitcoin, a large portion of users and capital will be priced out. History suggests many of them will look for the same solution they chose last time which was Litecoin. This is why I believe Litecoin has a real shot at being one of the very few cryptocurrencies that are still relevant and actively used 10 years from now. Most projects from this cycle will likely fade away, just like the vast majority of dot com companies disappeared after the bubble. Litecoin has real utility, a battle tested network, and a legitimate shot at capturing overflow from Bitcoin when fees become ridiculous again.
Appreciate the comment. NFA

Jun 4

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Also see my LTC BTC update