Tuesday, January 26, 2021
Bitcoin Market News
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
Bitcoin Market News
No Result
View All Result

This Leading Altcoin Only Has 8% Chance of Further Decline Against Bitcoin | NewsBTC

7 months ago
in Technical
3 min read
This Leading Altcoin Only Has 8% Chance of Further Decline Against Bitcoin | NewsBTC
Share on FacebookShare on Twitter


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.

However, based on probabilities alone, an altcoin recovery that brings the assets more on par with Bitcoin may be brewing. Here’s what the data suggests.

The Incredible Altcoin Boom That Burst The Crypto Bubble

When the mainstream public first learned about Bitcoin in 2017, they FOMOed into the asset driving its price to its peak at $20,000.

At the same time, money-hungry investors bought up any altcoin they could hoping to find ‘the next Bitcoin.’

Altcoins like Litecoin, Ethereum, Ripple, and countless others surged to all-time high valuations.

Related Reading | Alts Pumping on Cryptocurrency Exchange Listing Brings Back Memories Of Bull Market

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.

Bitcoin, however, has recovered a large portion of its former high.

During 2019, Litcecoin’s 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.

Sentiment in altcoins has never been lower, but based on probabilities alone, a turnaround could soon be coming.

Litecoin Could Soon Lead Alts To Major Recovery Against Bitcoin

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.

It led the initial rally in early 2019 that prompted Bitcoin’s breakout bull run that summer.

Litecoin may once again be providing some interesting clues on what’s to come in crypto.

ltcbtc litecoin bitcoin 3m

Litecoin LTCBTC 1M & 3M Divergence, Fisher Transform, TD Sequential | Source: TradingView

The Fisher Transform indicator on the LTCBTC trading pair has given a reading of a -2 deviation. This suggests there’s only a tiny, 8% chance of Litecoin declining further against Bitcoin.

Related Reading | These Alts Set a New ATH While Bitcoin And Ethereum Tank

LTCBTC is also at the range low, is extremely oversold, and a perfected TD 9 buy set up triggered on  3-month time frames. The TD Sequential indicator has been highly reliable in crypto trading on lower timeframes like daily and weekly.

The largest timeframes, however, are given the most weight in technical analysis, making the signal that much more important.

This suggests that after 27 months’ worth of downtrend, Litecoin is ready to regain against BTC.

And with the asset commonly acting as a leading indicator for all altcoins, a much-needed alt season could finally arrive.



Read more:This Leading Altcoin Only Has 8% Chance of Further Decline Against Bitcoin | NewsBTC

Related articles

TA: Why Bitcoin Price Remains At Risk for a Fresh Drop to $30K

TA: Why Bitcoin Price Remains At Risk for a Fresh Drop to $30K

January 26, 2021
As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

January 25, 2021
Tags: AltcoinBitcoinbitcoin news todayChanceDeclineLeadingNewsBTC

Related Posts

TA: Why Bitcoin Price Remains At Risk for a Fresh Drop to $30K

TA: Why Bitcoin Price Remains At Risk for a Fresh Drop to $30K

by Bitcoin Market
January 26, 2021
0

Bitcoin price recovered above $34,000, but it struggled near $35,000 against the US Dollar. BTC is currently declining and...

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

by Bitcoin Market
January 25, 2021
0

Source: iStock/Koonsiri BoonnakThe volatility is holding the market in a firm grip, as the market sentiment drops further within...

Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term

Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term

by Bitcoin Market
January 25, 2021
0

Bitcoin, Ethereum, Cryptocurrencies, BTC/ETH Ratio, Technical Analysis – Talking Points:Ratio analysis suggests that Ethereum will continue to outperform Bitcoin...

Week Ahead: Post-Inaugural Rally To Endure On Earnings Results; Bitcoin Higher |

Week Ahead: Post-Inaugural Rally To Endure On Earnings Results; Bitcoin Higher |

by Bitcoin Market
January 24, 2021
0

Tech sector makes a comeback on worsening economic outlook Earnings releases could provide market boost in the week ahead...

Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live By Cointelegraph

Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live By Cointelegraph

by Bitcoin Market
January 24, 2021
0

Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live After weeks of anticipation and a closely-watched series of preparatory...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

December 11, 2020
Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

December 21, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

December 4, 2020
The Most Secure Cryptocurrency Wallets for Different Users

The Most Secure Cryptocurrency Wallets for Different Users

November 1, 2020
Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

January 26, 2021
Millenials Prefer Bitcoin Over Gold, But it it Still Extremely Unequal, Study Finds

Millenials Prefer Bitcoin Over Gold, But it it Still Extremely Unequal, Study Finds

January 26, 2021
Grindr Fined in Europe Over Sharing of User Data: Live Business Updates

Grindr Fined in Europe Over Sharing of User Data: Live Business Updates

January 26, 2021
While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine

While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine

January 26, 2021
Bitcoin gyrates 10% as crypto market stays volatile

Bitcoin gyrates 10% as crypto market stays volatile

January 26, 2021
Bitcoin price seen topping $50,000 over long term as it vies with gold

Bitcoin price seen topping $50,000 over long term as it vies with gold

January 26, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com


    Warning: Invalid argument supplied for foreach() in /home/marketforbitcoin/public_html/wp-content/plugins/cryptocurrency-pricing-list/inc/ccpw_frontend_ticker.php on line 162