Altcoins have been absolutely dominated by Bitcoin in the last few years of the crypto bear market. While the first cryptocurrency hit almost 50% of its previous all-time high, most altcoins stayed down 90% or more.
However, based on the probabilities alone, an Altcoin recovery can be seen that will better bring the assets to Bitcoin. The data suggest the following.
The incredible altcoin boom that is bursting the crypto bubble
When the mainstream public first learned about Bitcoin in 2017, it went into the asset and rocketed its price to a high of $ 20,000.
At the same time, money-hungry investors bought up every old coin they hoped to find the “next bitcoin”.
Altcoins like Litecoin, Ethereum, Ripple and countless others rose to an all-time high.
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After the bubble burst, altcoins crashed 90% or more. Many are still lagging behind today, almost as strongly, after almost three years.
However, Bitcoin has regained much of its previous high.
In 2019, the halving of Litcecoin altcoins brought some momentum and momentum again. But Bitcoin stole the show again, rose to $ 14,000, and decimated alts.
The mood with altcoins has never been lower, but the likelihood of a trend reversal could soon begin.
Litecoin could soon lead to a significant recovery from Bitcoin
Litecoin often acts as a leading indicator for the larger crypto market. It can even give traders clues as to what to expect from Bitcoin or other alts.
It led the first rally in early 2019 that caused Bitcoin to break out this summer.
Litecoin may again provide some interesting clues as to what to expect in crypto.
Litecoin LTCBTC 1M & 3M Divergence, Fisher Transform, TD Sequential | Source: TradingView
The Fisher Transform indicator for the LTCBTC trading pair shows a deviation of -2. This suggests that there is only a tiny 8% chance Litecoin will continue to decline versus Bitcoin.
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LTCBTC is also in the low range, is extremely oversold, and a perfected TD 9 buy setup has been triggered 3 months time frame. The TD Sequential indicator was extremely reliable in crypto trading in shorter periods like daily and weekly.
However, the largest time frames are weighted the most in technical analysis, which makes the signal all the more important.
This suggests that after a downward trend of 27 months, Litecoin is ready to hold its own against BTC.
And since the asset usually acts as an early indicator for all old coins, an urgently needed old season could finally come.