{"id":417054,"date":"2020-03-05T19:00:35","date_gmt":"2020-03-05T19:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=417054"},"modified":"2020-03-05T16:23:05","modified_gmt":"2020-03-05T16:23:05","slug":"analyst-litecoin-bottomed-crypto-bitcoin-altcoins","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-litecoin-bottomed-crypto-bitcoin-altcoins\/","title":{"rendered":"Analyst: Litecoin May Have Bottomed And Is Ready To Lead Crypto to New Highs"},"content":{"rendered":"

Litecoin<\/a> may be the silver to Bitcoin\u2019s digital gold, but oftentimes, it\u2019s the seventh-ranked crypto asset by market cap that leads the cryptocurrency market.<\/span><\/p>\n

According to one analyst, Litecoin \u201cmay have bottomed\u201d out and \u201cnew highs\u201d are inbound for the altcoin. The analyst also says that this means that Bitcoin<\/a> and the rest of the altcoin market will follow.<\/span><\/p>\n

Litecoin Completes ABC Correction, Bottom May Be in<\/h2>\n
During the start of the 2019 rally, Litecoin led the rest of the crypto market<\/a> in bottoming and kicking off what would eventually be a massive 500% rally for the altcoin.<\/span><\/p>\n
The surge in interest in Litecoin was due to the asset\u2019s halving. However, a selloff pre-halving<\/a> ended that rally and Litecoin retraced to a new higher low in late 2019.<\/span><\/p>\n
Related Reading | Top Trader: Recent Crypto Collapse Is Just Turbulence Before Takeoff<\/a><\/strong><\/em><\/p>\n
Earlier this year, it was also Litecoin to first bottom and begin showing signs of a recovery<\/a>. The cryptocurrency led the market into yet another rally, that has only recently broken its trend.<\/span><\/p>\n
Once again, Litecoin<\/a> is exhibiting signs that it may have found a local bottom and is ready to target new highs.<\/span><\/p>\n
According to one crypto analyst, Litecoin has just finished an ABC correction following a five-wave impulse upward. The analyst uses Elliott Wave Theory<\/a> to predict future price movements in assets.<\/span><\/p>\n
If this is the case, Litecoin<\/a> would theoretically be ready for another five-wave impulse upward once again, this time setting another new local high, and potentially the first higher high since the crypto market bottomed in December 2018.<\/span><\/p>\n
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starting to think $ltc<\/a> may have bottomed, am cautiously long, a break above $69 and id say the bottom is in and new highs on the cards and obviously if ltc bottomed it means corn did aswell.<\/p>\n
not full bulltard just yet but it is looking optimistic pic.twitter.com\/CBj1IEewkO<\/a><\/p>\n
— Bluntz (@Bluntz_Capital) March 5, 2020<\/a><\/p><\/blockquote>\n