kingthies

Litecoin's Track to $1500

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Brief Analysis + Prediction of Litecoin vs USD

Summary
It's been 3+ years since LTCUSD touched an all-time high of just over $420 on Coinbase (Bitfinex chart shown here for length of price history). Some have even began to describe Litecoin as an 'old' or a 'boomer' coin, although these claims often come from the inexperienced, uneducated and likely soon to be complaining traders. Highlighted on the chart here, we see that the journey LTC has taken since its ATH of $420 in 2017 is not the first trip its taken in an overall market cycle.

As shown on this chart, In 2013-2017 we experienced something just as similar, and almost too similar that its eery seeing the route repeat itself, almost to the exact day-count. I've added in the '1' '2' '3' numbers on each peak in mark-up phase as illustration of the 'corrections' we experience in the price climbing process, although note these may have been done prematurely on my end, as in the former cycle, the price mark-up was completed after the previous ATH had been crossed, with LTC then being in price discovery when that took place.
In the event I am early on that, I'd expect 3 more mark-up style pumps/consolidations that occur before the blow off the top to an even higher level than the $1500 I'm outlining here. That said, notice the highlighted above you will notice the additional prediction of price movement I've added, simply by copying the exact route from 2017, as to what may happen once the current ATH is challenged, presumably later in June or July of 2021.

Ultimately, to think the same amount of time yields the same results, is only an estimate. Fundamental analysis also suggests LTC's price should be significantly higher in respects to its relationship with Bitcoin , as one could argue that 4x the supply designates 1/4 the price expectancy. That said, suggesting LTC reaching $15k (with a $60k BTC ) would taken any way other than seriously. Hence the 'conservative' estimation that we see a repeat of the cycle/market top from 2017 with a price near $1.5k should she go parabolic. Surprisingly, this is also supported and on the conservative side when calculating the ATH of LTCBTC , with a $75k BTCUSD price.


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