Litecoin Could Soon Outperform Bitcoin By At Least 45%: Here’s Why

Litecoin Could Soon Outperform Bitcoin By At Least 45%: Here’s Why
фото показано с : newsbtc.com

2020-8-17 22:30

Against Bitcoin, Litecoin has not performed well since the highs of 2017 and 2018. As of this article’s writing, the price of LTC in Bitcoin terms is 0.0053 BTC — again, far from all-time highs.

Analysts believe that LTC is set to outperform Bitcoin, though. They cite technical trends that show Litecoin is breaking higher against Bitcoin for the first time in months, even years.

Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Litecoin Is On the Verge of Outperforming Bitcoin: Analysts 

A founder of crypto exchange Level and a digital asset trader thinks that Litecoin is poised to surge upwards of 175% against Bitcoin.

He shared the tweet below on August 16th, which shows an analysis of LTC’s price action against BTC. According to his analysis, LTC/BTC has broken above a pivotal one-year downtrend, has high trading volume (high buy volume), and formed a buy signal as per his proprietary indicator “Top Goon X.”

The trader says that these three signals working in tandem should confirm upside of 45% to 175%, depending on which macro resistance level Litecoin struggles to pass.

Chart of LTC's price action against Bitcoin in the past two years or so with analysis by trader Nebraskan Gooner (@Nebraskangooner on Twitter). Chart of TradingView.com

This sentiment has been echoed by other analysts.

One trader noted in a separate analysis that Litecoin is “ready to break out of a multi-month falling wedge” and ready to break above a multi-year downtrend.

Related Reading: Is Bitcoin Really In a Bull Market? Here’s Why Analysts Think BTC Isn’t Bitcoin Seeing Volatility Could Dampen This Narrative

Bitcoin undergoing a bout of volatility, though, could dampen the narrative that altcoins such as Litecoin outperform BTC.  As Mohit Sorout, founding partner of Bitazu Capital, explained to me in a recent interview:

“Most (altcoin) cycles in crypto are centered around bitcoin volatility. When it dries up, no one wants to trade btc which becomes evident from the volume as well. This leads to a large uptick in speculation on alts, driving their prices up – typically alts with strong narratives & large scale memetic behavior get the most volumes.”

Bitcoin is set to see a spike in volatility, according to a volatility analysis by Josh Olszewicz of Brave New Coin. If Bitcoin sees volatility, altcoins may suffer against the market leader, just as they did when BTC surged early in August.

Related Reading: Crypto Tidbits: Goldman Stablecoin, Dave Portnoy Wants Bitcoin, DeFi Boom Featured Image from Shutterstock Price tags: ltcusd, ltcbtc Charts from TradingView.com Litecoin Could Soon Outperform Bitcoin By At Least 45%: Here's Why

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67141.7 (+0.04%)
Объем 24H $21.852b
Изменеия 24h: 0.06 %, 7d: 10.35 %
Cегодня L: $66031.14 - H: $67143.86
Капитализация $1322.741b Rank 1
Цена в час новости $ 11850.92 (466.55%)

bitcoin litecoin highs writing price ltc far

Источник: newsbtc.com

bitcoin litecoin → Результатов: 126


Does Litecoin’s halving provide clues ahead of Bitcoin’s next April?

Key Takeaways The next Bitcoin halving is slated for April 2024, the fourth of Bitcoin’s existence Litecoin has just undergone its fourth halving, but the price effects of Litecoin halvings in the past have not been as strong Sample size is small meaning it is hard to conclude with confidence whether halvings have tangible price […] The post Does Litecoin’s halving provide clues ahead of Bitcoin’s next April? appeared first on CoinJournal.

2023-8-17 17:31


Фото:

Adult Entertainment Giant Pornhub Now Lets Models Get Paid With Bitcoin And Litecoin

The top adult entertainment platform, Pornhub, has added Bitcoin (BTC) and Litecoin (LTC) as crypto payment options for its premium content. In a September 2nd tweet, the company stated: “To further expand our cryptocurrency options for Pornhub Premium, we’re excited to announce that we now accept Bitcoin & Litecoin as payment methods!” It should be […]

2020-9-3 22:47


За два дня акции Bitcoin Cash и Litecoin выросли на 753% и 351%

Grayscale Investments – единственная американская компания, получившая разрешение Регулятора США (SEC) на внебиржевую торговлю ценными бумагами, привязанными к реальной криптовалюте. Первыми акциями рынка OTC стали Bitcoin и Ethereum, 18-го августа к ним добавились Litecoin и форк Bitcoin Cash.

2020-8-21 16:06


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Why An Analyst Thinks Litecoin Is “One of the Better Bearish Plays”

After a multi-year bear market, Litecoin (LTC) has finally begun to move higher over recent days. The asset has gained around 20% since the lows of last week at approximately $55. While there are many arguing that LTC has momentum, one analyst says that Litecoin is one of the “better bearish plays” in the crypto […]

Analyst Expects Pain for Litecoin as It Paints “Bearish Engulfing Candle”

Litecoin (LTC) has surged 42 percent in a three-week winning streak. But the rally showed signs of exhaustion upon testing a “huge falling resistance” for a breakout. LTC printed a so-called “bearish engulfing candle,” which, according to financial analyst Vince Prince, spells downside risks for the cryptocurrency.

One Top Crypto Prepares to Lift Off as Social Engagement Metrics Explode

Most of the top cryptocurrencies by market capitalization have been able to outperform Litecoin since March’s Black Thursday. Since then, Bitcoin and Ethereum are up by more than 130%. Even XRP has been able to recover most of the losses incurred during the marketwide meltdown as it rose by nearly 88%. Meanwhile, the seventh-largest crypto...

This Major Crypto is Poised for New Lows in 2020 as Macro Structure Degrades

2020 has been a particularly rough year for Litecoin, with the crypto closely tracking Bitcoin’s price action and trading right around where it started the year at. Although LTC has been able to avoid declining over a year-to-date period, it has severely underperformed Bitcoin in the time following its capitulatory decline from its mid-February highs....

Litecoin Gains 10% Against The Dollar, Is This The Start of an Altcoin Rally?

While Litecoin started 2019 with a massive rally leading up to the asset’s hard-coded halving, the fifth-largest cryptocurrency by market cap later retraced almost the entire rally. It also led the way for a massive altcoin run, just before Bitcoin began to skyrocket and caused the alt market to correct.