I was just looking at what could happen if we break out of this pattern to the upside and where we go. I know this chart isnt going to be exact and maybe it goes higher or lower than up to where it could hit my top trend line.
I don't usually like to use trendlines but its always interesting to see where it would go if it respected them.
If its correct and litecoin did hit $1500 I looked at where that would be in relation to bitcoin.
You can get a $2500 litecoin with these figures:
BTC 100k - LTC/BTC = 0.015(Which we did get above recently)
BTC 250k(Tim Drapers prediction) - LTC/BTC =0.006(Which is where we are now)
Now I don't believe near the top that LTC would still be so weak against BTC as alts tend to rally hard during the end of a bull market so its possible the bull market sees BTC hitting 100k at the top or it goes higher and maybe LTC does gain against BTC meaning LTC could go a lot higher above my trendline
If we got a LTC/BTC of 0.025 like at the end of last bull run with BTC hitting 250k then we would be looking at 6000 dollars LTC.
Of course all this is just speculation and alts could may not rally like they did in 2017 but I still do believe once BTC gets high enough we will see a lot of retail money moving into alts hoping to buy into "the next bitcoin" and also buying alts because they feel like BTC is too expensive and that they have missed the boat.
I don't usually like to use trendlines but its always interesting to see where it would go if it respected them.
If its correct and litecoin did hit $1500 I looked at where that would be in relation to bitcoin.
You can get a $2500 litecoin with these figures:
BTC 100k - LTC/BTC = 0.015(Which we did get above recently)
BTC 250k(Tim Drapers prediction) - LTC/BTC =0.006(Which is where we are now)
Now I don't believe near the top that LTC would still be so weak against BTC as alts tend to rally hard during the end of a bull market so its possible the bull market sees BTC hitting 100k at the top or it goes higher and maybe LTC does gain against BTC meaning LTC could go a lot higher above my trendline
If we got a LTC/BTC of 0.025 like at the end of last bull run with BTC hitting 250k then we would be looking at 6000 dollars LTC.
Of course all this is just speculation and alts could may not rally like they did in 2017 but I still do believe once BTC gets high enough we will see a lot of retail money moving into alts hoping to buy into "the next bitcoin" and also buying alts because they feel like BTC is too expensive and that they have missed the boat.