Hi all, many have been asking for an official update to this ltc/btc chart published over a year ago due to how surprisingly accurate it has turned out to be:
...u been in this game long enough and every once in a while u tend to get things right. Go figure. Some have said I have the best litecoin track record on tradingview but I think that's ridiculous i'm sure someone has done it better (have linked some past analysis in Link to Related Ideas). Anyway, here is the update, to be honest I held off on this one for a while b/c (as bullish as I am/have always been) on ltc I didn't think it was ready yet. Now I think it's getting close to that time. It looks like we are in the late stages of a terminal c wave for the end of a larger degree wave 2, or wave Y of W-X-Y...in either case this would suggest huge upside lies ahead in the coming years for litecoin. I believe a new market cycle for alt coins has begun, and a few alts are on the brink of massive wave 3's (if u looked w/ the right eyes u could prob find a few of these charts). It's possible other alts will outperform in the near future but I think ltc is the best bet long term, and is very close to having bottomed if it hasn't already.
While the progress is slow and steady, litecoin will be adding Confidential Transactions/Mimble Wimble in extension blocks. The significance of this can not be understated in the upcoming battle for privacy in crypto as the Epstein Network begins to acknowledge crypto has already won, and there only shot is to accept the loss and continue to attempt to infiltrate its future (as seen evidenced by the failed attempts to fork btc w/ bcash, co-opt developers, exchanges, etc). The non speculative mind would say "the halving already came and nothing happened" which is idiotic to put it lightly. Litecoin is no longer an alt coin, it has stood the test of time and is it's own coin/community, the event is not as important is the long term effects of decreased supply amidst a blossoming coin w/ incredibly strong fundamentals. Btc fees/demand for blockspace will inevitably continue to rise during cycles of high demand (my elasticity theory of demand--if u didn't catch it in the past sorry u should have been paying attention) and thus a secure, high cost to attack network which does not directly compete for mining (different algo) is incredibly valuable. Further, especially when considering the lower cost to open channels on Litecoin's Lightning Network as compared to bitcoin (channel opens/closes ultimately settle to the chain which has a cost). Privacy is coming to ltc, and since btc is so hard to change (good for monetary policy) ltc will get there first, as with segwit, and pave the way. It's possible btc will never have good privacy, which could prove to be a boon for incentivising developers to want to work on ltc (same codebase) as opposed to btc, and regardless any code they write can simply be adopted by ltc devs as has shown to be the case.
Anyway, may provide a more extensive analysis as far as the Elliot Wave nittie grittie technical at my new >LTC-JOE cloutreon. Finally, this time my Truth Social Network signature/URL stamp will be provided in my >LTC-JOE block, I realized this method makes more sense. >BTC_JOE lmk wot u think of this! Good luck all.
@Moonsie, While the scope of this idea is much broader, and based upon fundamental analysis, etc, elliot wave (the primary focus of this chart) can provide quite objective and detailed time based targets. To give you a taste I have provided a custom made chart below. Basically, a terminal wave (in this case wave c of a flat correction), is typically fully retraced in 25-50% of the time it took to form. Assuming it is complete on ltc/btc, and a 50% time variable, that would mean wave b should be fully retraced by July (shown with thick red line). Further, if it is a wave 3 than (as it can not be the shortest wave) that would provide us with an eventual minimum target of wave 1 % increase multiplied by 1.618 (shown in the chart-~815%) and potentially much higher (2.618 or 4.23 multiplier). Alternatively, the flat correction could be the end of a complex correction for wave Y, and would mean we have only just now reached the end of an elliot wave bear cycle, and have 5 waves to come going up. In either case, the picture is very bullish. Based upon all of the above, and my overall outlook for ltc, I think it's likely ltc will at some point reach 0.1 realistically, and from an optimistic perspective, my speculative mind says it's not impossible litecoin, could at some point, if not only for a short period of time, actually overtake bitcoin in terms of market cap (blasphemy! I know). But we shall see. We are a long way there. In conclusion, I think litecoin is an incredibly good buy at these prices and will in the long term vastly outperform bitcoin.
UnknownUnicorn788630
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@ltc-joe, Thank you for your detailed reply freb, lets hope we have bullish months ahead of us
fortunekr
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Yeah. No more cocking about with making more fiat TP by the time summer rolls around. Going long and strong by july/august. Wouldn't want to miss the launch to mars :)
ltc-joe
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@fortunekr, based upon the current increase in toilet paper, and decrease the value/purchasing power of fiat money, I actually think banks/atms should pivot into the toilet paper business. If they could simply substitute the smelly, ugly, likely disease ridden dry green cotton for some softer raw materials, the value of banks to society would greatly increase, and help bring to fruition a form of "decentralized toilet paper manufacturing" ...u know until we can all do that ourselves with out 3d printers.
Betelgeux_
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Hi! how are you? It's the first time that I read your analysis, very interesting, I'll follow you closely. It would be great to see LTC go up strong. Regards!
ltc-joe
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@marvanek, HI! i'm good, hope all is well with u friend. Thanks for reading. Yup, great indeed. Salutations!
Live long and prosper
-J