{"id":429756,"date":"2020-07-06T20:00:01","date_gmt":"2020-07-06T20:00:01","guid":{"rendered":"https:\/\/wncen.com\/?p=429756"},"modified":"2020-07-06T14:52:05","modified_gmt":"2020-07-06T14:52:05","slug":"altcoin-litecoin-bitcoin-crypto-ltcbtc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-litecoin-bitcoin-crypto-ltcbtc\/","title":{"rendered":"This Leading Altcoin Only Has 8% Chance of Further Decline Against Bitcoin"},"content":{"rendered":"
Altcoins have been absolutely dominated by Bitcoin over the last several years of crypto bear market. While the first-ever cryptocurrency has reached nearly 50% of its former all-time high, most altcoins remained down 90% or more.<\/p>\n
However, based on probabilities alone, an altcoin recovery that brings the assets more on par with Bitcoin may be brewing. Here\u2019s what the data suggests.<\/p>\n
When the mainstream public first learned about Bitcoin in 2017, they FOMOed into the asset driving its price to its peak at $20,000.<\/p>\n
At the same time, money-hungry investors bought up any altcoin they could hoping to find \u2018the next Bitcoin.\u2019<\/p>\n
Altcoins like Litecoin, Ethereum, Ripple, and countless others surged to all-time high valuations.<\/p>\n
Related Reading | Alts Pumping on Cryptocurrency Exchange Listing Brings Back Memories Of Bull Market<\/a><\/strong><\/em><\/p>\n After the bubble popped, altcoins crashed by 90% or more. Many remain down by nearly as much even today and after nearly three years passing.<\/p>\n Bitcoin, however, has recovered a large portion of its former high.<\/p>\n During 2019, Litcecoin\u2019s halving brought some buzz and momentum back to altcoins. But Bitcoin once again stole the show, rocketing to $14,000 and leaving alts decimated in its wake.<\/p>\n Sentiment in altcoins has never been lower, but based on probabilities alone, a turnaround could soon be coming.<\/p>\n Litecoin often acts as a leading indicator for the greater crypto market. It can even tip off traders as to what to expect from Bitcoin or other alts.<\/p>\n It led the initial rally in early 2019 that prompted Bitcoin\u2019s breakout bull run that summer.<\/p>\n Litecoin may once again be providing some interesting clues on what\u2019s to come in crypto.<\/p>\n <\/p>\n The Fisher Transform indicator on the LTCBTC trading pair has given a reading of a -2 deviation. This suggests there\u2019s only a tiny, 8% chance of Litecoin declining further against Bitcoin.<\/p>\nLitecoin Could Soon Lead Alts To Major Recovery Against Bitcoin<\/h2>\n
Litecoin LTCBTC 1M & 3M Divergence, Fisher Transform, TD Sequential | Source: TradingView<\/a><\/pre>\n