IS LITECOIN STILL A BUY? 🧐 LTC vs ETH | LTC vs BTC | Get Rich with Crypto

Contents

Litecoin will rise in price faster than bitcoin by at least 45%
CONTENT

  • Profitability Litecoin loses to Bitcoin

  • Technical analysis indicates the development of a bullish trend

  • Bitcoin Volatility May Limit LTC Upward Potential

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In recent years, the return on investment in Litecoin has been losing out to bitcoin, but experts are confident that the situation may change dramatically in the near future..

Analysts believe LTC will soon overtake Bitcoin in growth rates. The main bullish catalyst in the long term will be the first major LTC / BTC breakout in many months or even years.

At the time of this writing, one Litecoin can be bought for 0.0053 BTC.

Litecoin will rise in price faster than bitcoin by at least 45%

Thus, since the beginning of the year, the seventh largest cryptocurrency has depreciated by 6% in relation to bitcoin. Paired with the dollar, LTC is trading at $ 63.28, 55% higher than January’s but still well below the all-time high reached in June 2017 at $ 145.51.

Litecoin broke the bearish trend

According to the founder of the analytical service 𝙴𝚕𝚎𝚟𝚊𝚝𝚎 𝚃𝚛𝚊𝚍𝚒𝚗𝚐 and partner Trezor, Litecoin can grow by 175% in relation to Bitcoin.

He shared his thoughts on this matter and the result of technical analysis on his Twitter..

Litecoin will rise in price faster than bitcoin by at least 45%

In particular, the expert noted that the LTC / BTC pair broke through the key resistance of the long-term bearish trend on high volume and generated a buy signal.

The expert noted that these signals work in tandem and indicate growth in the range from 45% to 175%, depending on at what resistance level the bulls on Litecoin will give weakness.

LTC / BTC Chart for the Last Two Years with Technical Analysis (@Nebraskangooner).

This opinion is shared by other analysts..

Litecoin will rise in price faster than bitcoin by at least 45%

So a trader known on Twitter as JJcycles (@JJcycles) noted that Litecoin is “ready to break out of a multi-month falling wedge” and break a multi-year downtrend.

For where is the best place to buy Litecoin, read our guide

Growing volatility in bitcoin could disrupt plans

The first cryptocurrency is now on a wave of rising volatility, which could hinder the development of a bullish scenario for altcoins, including litecoin. Mohit Sorut, Founding Partner of Bitazu Capital, noted in a recent interview:

“Most of the cycles (altcoins) are tied to bitcoin volatility. When it drops, nobody wants to trade bitcoin. Traders turn their attention to altcoins – as a rule, altcoins with a strong base and large-scale community support win.

According to volatility analysis by Josh Olshevich of Brave New Coin, a new wave of volatility awaits Bitcoin. If this happens, we will see a repeat of the story of early August, when we saw an outflow of capital from altcoins and an inflow of BTC.

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