The concept of a Litecoin bull run once upon a time looked very realistic but with the recent declines, looks like a fairytale. The cryptocurrency and altcoin famous for using blockchain to maintain a public ledger for all transactions is now dropping in terms of its value.
There are not many Litecoin partnerships on the horizon too, which accounts for the still waters that LTC is swimming in. However, analysts hope that with a brand new year comes brand new blood which will fuel the next big crypto bull run.
The Litecoin news show that according to cryptocurrency analysts including Mati Greenspan, Alessio Rastani, Trace Mayers and PlanB, there is a high probability of a Bitcoin bull run at some point in the next 12 to 18 months.
Some analysts, however, are pointing to a Litecoin bull run too. On the other hand, there are economists who are keeping their fingers crossed to a recession during the same period. The big question is – “Can and will this be the final catalyst for a massive crypto bull market?”
If so, the altcoin news could definitely feature a lot of gains for LTC and many other coins. According to analysts and their outlook so far, Bitcoin has a potential to reach $10,000 in 2020 and then be on track for more gains.
If the models continue to satisfy the future predictions, we can see the recipe for an altseason going to life. Even though there are technical advancements which are the most important detail for the price, fundamentals tend to apply in the long term rather than the short term.
When looking at the overall altcoin prices, a potential Litecoin bull run is not even an option – mostly because the majority of coins have fallen between 80% and 90% since their all time highs. The cycle has repeated since 2013 when altcoins became a thing.
So, the short-term price action which is expected will be based on pure speculation – or tied to Bitcoin and its potential run to $100,000 which was featured by one analyst. If something like this occurs, altcoins would be in the green and a Litecoin bull run will be one of the many bullish runs out there.
Currently, Litecoin (LTC) is at the sixth position, trading at $47.55 with a 5.29% drop overnight.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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