This Altcoin Predicts Bitcoin’s Movements! Bottom Found?

bitcoin and altcoins Although 2022 has spent the year with declines, some altcoins have positively diverged from the market, which is generally in a downward trend.

One of these altcoins Litecoin (LTC) popular cryptocurrency analyst who thinks he’s Rekt Capitalin his post on twitter, believes that LTC is preparing to leave the downtrend crypto market.

LTCClaiming that ‘s may have already seen the bottom of the bear market, the analyst compared Litecoin and Bitcoin.

“LTC bottoms precede BTC bottoms.

In 2015, LTC bottomed out in April, while BTC bottomed in August. If we look at 2018, both Litecoin and Bitcoin bottomed out at the same time.

Now in 2022, LTC may have bottomed in June 2022, but BTC could still see new lows.

The current situation is similar to the 2015 correlation.”

Historical price movements of LTC Stating that it is preparing for a strong rise, Rekt Capital referred to Litecoin’s halving event in 2023.

“LTC tends to recover before halving. However, the rallies peaked before the halving.

LTC peaked a month before one halving and two months before the two halvings. Can LTC complete the three months before the three halvings? If so, the peak will be in May 2023.

In this context, it is possible for LTC to experience a relationship breakdown from the overall crypto market in the coming months due to its upcoming halving in August 2023.”

$LTC tends to rally prior to its halvings

However, the rallies top out pre-Halving#LTC topped out 1-month prior to Halving 1 and 2-months pre-Halving 2

Could LTC top out 3-months pre-Halving 3?

If so, top would be in May 2023https://t.co/jCAcsaAa7L#BTC #Crypto #Litecoin pic.twitter.com/XZmIQEg3Ja

— Rekt Capital (@rektcapital) December 27, 2022

“Bitcoin Has Signs of Weakness!”

Analyst, Litecoin He said that while he is optimistic about the issue, Bitcoin still shows signs of weakness. Accordingly, Rekt Capital pointed out that there is a possibility of new bottoms in BTC, BTC said the following about it.

“BTC’s rise means a relief rally for BTC to turn $19,500 into new resistance.

However, BTC failed to even break the resistance at $17,150 (weakness). Bitcoin could drop further if the monthly close is below $17,150.

If Bitcoin does not pass $ 17150, it will fall deeper into the range of $ 13900-17150.”

a textbook #BTC breakdown from $19500 would imply a relief rally to turn $19.5K into new resistance

thigh $BTC hasn’t been able to even press past its immediate resistance at ~$17150 (weakness)

Monthly Close below ~$17150 & may drop lower in the blue-blue range#Crypto #Bitcoin https://t.co/0cecX0aNMg pic.twitter.com/AD1hppyOQ5

— Rekt Capital (@rektcapital) December 26, 2022