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Panjang

Is LTC Really About to Make a Huge Run on BTC? (EW Analysis)

BTCE:LTCBTC   Litecoin / Bitcoin
It appears that LTCBTC             could potentially be nearing the end of a terminal impulse wave-c, or alternatively an expanding triangle wave-c that is part of a larger triangle. The former is much more likely, though, which means we could be preparing for the largest bullish impulsive wave on LTCBTC             ever over the next year. It also means that this is possibly the lowest price that LTCBTC             will ever be at, as long as one of the counts here is right.

Right now, the terminal impulse count makes the most sense because seeing an expanding triangle as the wave-c of a larger contracting triangle would be really unlikely. Also, the time considerations for waves (a)(b) and (c) are what you'd expect from a wave-c failure (ie, wave-a is the smallest, wave-b is bigger than wave-a and wave-c is the longest and is a terminal). However, not only is this a wave-c failure it's an irregular failure so that means the implications after this wave are extremely powerful, but the only way to know for sure which wave it actually is, is to see how the wave-c gets retraced. If the wave-c is retraced in 50% or less time than wave-c took to form, then it was most likely a terminal which is part of an irregular failure, but if it gets retraced in more than 50% time then it was probably a expanding triangle and we'll get a wave-e down before finally getting the largest bullish impulsive wave ever. Either way though, this is very likely going to be the bottom (or very close to it) for LTCBTC             , and we'll never see these prices again. Also if we do get another impulse up it's hard to say exactly how big it will be but most likely it will be at least as big as wave-b and we'll eventually get more than one after a correction.

Fundamentally, the lack of leadership on Bitcoin             , the split on development, the inability to fix the blocksize and lower fees, the threats from big miners and market makers to create a hard fork, the rejection of multiple ETFs, and the stricter regulations from China could cause a lot of people to speculate on Litecoin and other cryptocurrencies while bitcoin             begins to fall back. Litecoin has significantly faster transaction times and lower fees and has proven to be safe and reliable for the last 6 years, not many coins have as long of a history as Litecoin. There's a lot of interest in cryptocurrency right now, and speculators have been hungry for altcoins recently while bitcoin             has lost a lot of its market cap dominance this year, this could begin to spill over into Litecoin soon as people continue to look for a way to reinvest their BTC             .
Tips: (BTC) 1N7YB8HMzrmtSG8GdZ5b2gdERwENqoSBq
Will this be the greatest call in all of human history? I can't wait to find out.

Just fucking wow.
+2 Balas
great analysis! any update?
+1 Balas
Great chart, excellent. I can see LTC is progressing short term because of SegWit adoption.

What I fail to understand is how this could make a sustainable long term trend. Just because of SegWit? It is still hopelessly outdated.
+1 Balas
@mikenz, Quite simply the tech behind Litecoin is not only better than Bitcoin, there is much better consensus and actual leadership. All the problems I listed above with bitcoin more or less do not currently exist in Litecoin. There is no threat of a hard fork, no rogue miners, no complete abandonment by the creator, there is an actual vision and a future for Litecoin whereas the only vision for Bitcoin is that it will probably never change, at least not until the centralized miners who refuse to concede start losing money, but by that time it will be too late to save Bitcoin. Litecoin is just one of many technologies that will be used in place of bitcoin because it is significantly faster and has more features and better development, Litecoin has the unique advantage of being the 2nd oldest coin and having the longest history of any cryptocurrency except Bitcoin, and has suffered from very few (if any) major losses, unlike cryptos like Ethereum which are seen as more experimental and less secure than older cryptos like Bitcoin and Litecoin. It's hard to say which cryptos are going to come out on top but many of them are going to see massive gains over the next few months and Bitcoin will likely see major losses due to the bad news cycle beginning now for Bitcoin and a good news cycle beginning for Altcoins.
Balas
@Intuit, Do you have any update about LTC? It seems to be heavily manipulated via FUD/HYPE.
Balas
Are you still bullish on LTC?
+1 Balas
@Intuit I'd also like to know your thoughts on this.... where to frim here for LTC?
Balas
Intuit PRO 01sasa10
@01sasa10, @PacificNomad, LTC has only gotten more bullish now that it's almost completely broken out of this triangle

Balas
@Intuit, is it still on?
Balas
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