Litecoin may be on the verge of rebounding against Bitcoin, according to popular crypto analyst Nicholas Merten. The analyst also predicts that the altcoin market will be a better bet overall than Bitcoin this cycle. Here are the technical levels…
Litecoin was rocked by Walmart news on September 13
Although Merten backed out from his position in Litecoin (LTC) after a false rumor about a partnership with retail giant Walmart, he says it’s “still a great project.” He advises you to “keep an eye” on LTC as it is currently in the low price range against Bitcoin (BTC).
Litecoin price predictions
In his analysis, Merten says that Litecoin (LTC) is currently creating a counter-pattern similar to what it did in March 2017, just before launching a massive rally against Bitcoin:
I’m not going to say it’s guaranteed in any way, and I don’t think Litecoin has as much market weight as it used to be. But still, don’t deny these super cycle patterns that happen every few years every cycle. I would strongly suggest not to ignore it, there is potential that we can even see some of the 2017 rally and it’s still something important. Potential 2x and potentially 2.5-3x against Bitcoin.
Nicholas Merten warns altcoin investors
cryptocoin.com Merten predicts altcoin trading will be a better bet overall than Bitcoin (BTC) this cycle, but he has a few caveats to investors:
Personally, I believe being in altcoin projects would be a better bet during this cycle. Don’t be in the purely speculative small-cap altcoins. Do not collect all your eggs in one basket. The data suggest that it would be more convenient to stay in altcoin than in Bitcoin until it reaches the top of the cycle. And things will change when the market correction begins.
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