Litecoin's Track to $1500 Brief Analysis + Prediction of Litecoin vs USD
Summary
It's been 3+ years since LTCUSD touched an all-time high of just over $420 on Coinbase (Bitfinex chart shown here for length of price history). Some have even began to describe Litecoin as an 'old' or a 'boomer' coin, although these claims often come from the inexperienced, uneducated and likely soon to be complaining traders. Highlighted on the chart here, we see that the journey LTC has taken since its ATH of $420 in 2017 is not the first trip its taken in an overall market cycle.
As shown on this chart, In 2013-2017 we experienced something just as similar, and almost too similar that its eery seeing the route repeat itself, almost to the exact day-count. I've added in the '1' '2' '3' numbers on each peak in mark-up phase as illustration of the 'corrections' we experience in the price climbing process, although note these may have been done prematurely on my end, as in the former cycle, the price mark-up was completed after the previous ATH had been crossed, with LTC then being in price discovery when that took place.
In the event I am early on that, I'd expect 3 more mark-up style pumps/consolidations that occur before the blow off the top to an even higher level than the $1500 I'm outlining here. That said, notice the highlighted above you will notice the additional prediction of price movement I've added, simply by copying the exact route from 2017, as to what may happen once the current ATH is challenged, presumably later in June or July of 2021.
Ultimately, to think the same amount of time yields the same results, is only an estimate. Fundamental analysis also suggests LTC's price should be significantly higher in respects to its relationship with Bitcoin, as one could argue that 4x the supply designates 1/4 the price expectancy. That said, suggesting LTC reaching $15k (with a $60k BTC) would taken any way other than seriously. Hence the 'conservative' estimation that we see a repeat of the cycle/market top from 2017 with a price near $1.5k should she go parabolic. Surprisingly, this is also supported and on the conservative side when calculating the ATH of LTCBTC, with a $75k BTCUSD price.
Marketgod
History May Not Always Repeat Itself, But Bitcoin Might.$100,000 BTC should be in the back of your mind if it isn't already. Scoffing at the idea? You aren't alone. But with price sitting at $16.6k at this moment, and a historic tendency to break all-time highs after reaching them, one has to consider the logic on what the next trend high looks like, as we approach the current all-time high of $19.5k.
Sure there will be blood in the water by the time it happens, and many will be in disbelief when it does, but the overall train of thought I have is almost conservative compared to her explosive history of 4,000% or 1,500% returns in a matter of months. That said, as we near ATH, 500% from current ATH is absolutely realistic.
The chart here shows you the time that has passed since the last high in December 2017. You'll notice it is in alignment at this point with the 2015-2017 run, which we currently almost set up identically to in comparison. Price then exploded after the 1200 day period for 1500% percent growth.
While I can't promise history repeats itself, it certainly looks as if bitcoin will.
Uber Short Term BullishEntered a options call on Monday (expires Friday – high risk) since most of my indicators point short term bullish and we have 2 gaps that will probably get filled before tanking again to even lower lows. Anyone agree? As long as price maintains above $28, I will be in profit for my options call.
