Litecoin broke through long-term technical resistance
Historically Litecoin follows the dynamics of Bitcoin
The younger brother of BTC has been growing faster in the last week
International consortium of news organizations developing transparency standards.
Bitcoin (BTC) has set a new all-time high above $ 24,000, while Litecoin (LTC) has, meanwhile, updated its 2020 high
Silver is more expensive than gold
While bitcoin is bathed in glory, Litecoin (LTC) is slowly but surely growing in its shadow. Initially intended to test new features so as not to destabilize the Bitcoin network, Litecoin has grown to become the seventh largest digital currency. Often referred to as digital silver.
Litecoin is the digital silver to bitcoins digital gold.
Litecoin Price Prediction- Why $1200 LTC is Probable THIS CYCLE
– Master250k BTC 6.25k LTC 2021 (@MASTERBTCLTC) December 15, 2020
Bitcoin is moving up, and Litecoin is relentlessly following on its heels. However, in terms of the strength of the trend, LTC was ahead of BTC..
Since the beginning of 2-14 years, Litecoin has risen in price by 3652%. During this time, bitcoin favorably distinguished itself by higher profitability..
For a short time during the 2017 bull market, Litecoin surpassed the $ 300 mark and sharply surpassed Bitcoin in terms of growth. Then the bubble burst and a correction began, which resulted in a deep drawdown.
BTC – blue line, LTC – red line: TradingView
After a sharp drop, the coin lagged behind bitcoin for a long time, although it moved in unison with it. However, on December 18, 2020, the coin overcame resistance paired with the dollar and bitcoin..
The US government is preparing new incentives, and crypto enthusiasts believe this will push prices even higher. Retail investors and businesses will have more money, and Wall Street employees will receive bonus checks. From the experience of previous incentives, people will spend them on cryptocurrencies for fear of dollar devaluation.
The US government ran a $ 3 trillion marketing campaign for Bitcoin earlier this year.
Based on early results, it was highly effective.
– Pomp (@APompliano) December 19, 2020
In other words, if people have extra cash, they will channel it into the crypto industry..
Given that LTC remained undervalued, it has strong growth potential.
Altcoin season starts?
LTC, as one of the oldest altcoins, could be the harbinger of a massive trend known as the “altcoin season”.
Analyst firm Quantify Crypto claims that the technical indicators for Litecoin are still heading in a bullish direction. They noted that this is especially obvious against the backdrop of the outpacing dynamics of the coin compared to Bitcoin (at the time of this writing, LTC is trading at $ 120). In addition, the coin is vastly superior to other altcoins..
While #Bitcoin is making the headlines, little brother #Litcoin continues to outperform while most #altcoins are under performing $ BTC $ LTC is a token I trade, and have been in for a week + due to high trend scores
Anybody know what LTC is so strong now? Https: //t.co/WSK9eMWMzM
– Quantify Crypto (@Quantify_Crypto) December 19, 2020
Historically, altcoins have mimicked Bitcoin’s dynamics. However, the rise of DeFi Decentralized finance (DeFi) is financial services built on blockchain technology that offer users access to an open, efficient and … More made a difference this year. Active traders prefer to hold bitcoins and make money on alternative currencies. In other words, when bitcoin rises in price and then goes into consolidation, traders are looking for other coins on which to make money. The Coin Bureau has a good explanation for this phenomenon:
Anyway, the parabolic rally on the right side of the chart inspired Litecoin fans.
LTC 5-Day Chart: TradingViewhttps: //www.tradingview.com/x/aFqVDnFz/
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