Post
Topic
Board Speculation
Re: BTC/LTC pair. Buying LTC Halving
by
dragonvslinux
on 01/06/2023, 20:30:32 UTC
During the last days I've found this article: https://cointelegraph.com/news/litecoin-price-poised-for-700-gains-vs-bitcoin-says-charlie-lee where Charlie Lee says it could could do 700% vs. Bitcoin.

Charlie Lee is smoking crack or meth if he think LTC could increase 700% over the havling period, or even the near future, even if there is there is potentially some short-term upside to be seen.

Firstly let's not forget that Litecoin's price against Bitcoin has been in a downtrend since 2014 with lower highs (hence it had a double top against the dollar in 2021 while Bitcoin made new highs). There is also a lot of distribution volume between 0.004 and 0.005 BTC right now that I don't see Litecoin breaking through very easily, even with a halving on the horizon. I do acknowledge that in 2019 Litecoin doubled in price against BTC during the halving period, so it clearly remains possible to outperform Bitcoin in the short-term, but otherwise let's not forget that Litecoin is still around 80% from the previous halving, so go figrure...

TL:DR: LTC/BTC is only ever a short-term trade opportunity, potentially around the halving, but never a good long-term investment