Litecoin Will Move to Wherever Bitcoin Goes!

in #litecoin7 years ago

Among the major cryptocurrency assets -- and perhaps all crypto coins -- Litecoin is most levered towards Bitcoin's success.

Statistically speaking, wherever Bitcoin goes, so too does Litecoin:

Since the second quarter of 2013, Bitcoin and Litecoin share a 98% correlation. On a YTD basis, this has dropped to nearly 86%. Still, it's a very strong correlation considering that other cryptocurrencies appear to be branching away from Bitcoin's ebb and flow.

Sort:  

For future viewers: price of bitcoin at the moment of posting is 8570.70USD

I also believe that litcoin will move wherever bitcoin goes

Since BTC has the first mover advantage, its rise and fall will directly affect all the other alt coins including LTC.

All altcoin price movements are very strongly correlated with the price of bitcoin, just because it was the first, and is now like the king of cryptocurrency. One statistic I find interesting is the "bitcoin dominance". Right now it is at about 40%, how do you see this figure changing in the future?

Its 1:44 AM EST! Its looking like #LTC might be bullish into sunday morning!