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It was an interesting start of the week for crypts. After a month of heavy bearish sentiment, the market made a slight withdrawal. In the last 24 hours, most cryptos have gained over 10%. Even if the pump momentum has decreased, the downward momentum also seems to be too long. For example, Bitcoin (BTC) achieved solid support at $ 3200 and rebounded on this level for a few weeks.
This could be an indicator that Bitcoin (BTC) has hit the bottom. Also, if the story is something to go on, Bitcoin has never broken the 200-day weekly moving average in a market fix. It always tends to bounce slightly above it, so try new highs in a next bullish wave. If this is valid, and the market has really hit the bottom, then Litecoin would be the benchmark for keeping an eye on a new bull market.
An interesting aspect of Litecoin (LTC) is its recognition in the market. Litecoin (LTC) is one of the most recognized cryptocurrencies. This can be attributed to its close connection with Bitcoin (BTC). Litecoin (LTC) is present in almost all trades on which Bitcoin (BTC) is listed.
This means that if the market becomes bullish and FOMO returns to the market, Litecoin (LTC) will collect a significant portion of the new gains on the market. This is because, most of the people trying to capitalize on the greater gains that the plateaus give, they mostly come across Litecoin in major trade, as the most lucrative altcoin. Not that there are no altcoins that can improve Litecoin (LTC), but because it is one of the most reliable altcoins.
Speaking of reliability, Litecoin (LTC) is among the altcoins that have a high level of reliability and credibility. One reason for this is its high levels of adoption. Litecoin (LTC) is one of the most adopted cryptocurrencies. His daily network transactions are dwarfed by those of most overcoins, an indicator that is used in the market and a good indicator of his credibility. It is also one of the few altcoins that are practically in every exchange, including Coinbase. This creates an element of credibility in the eyes of investors, and could play an important role in the adoption of the next bull market.
In addition to access and credibility, Litecoin (LTC) is a very practical altcoin for everyday use. Litecoin (LTC) is fast, secure and decentralized. This practicality is one of the main reasons for its wide adoption. Once Lightning Network has reached a broader level of adoption, Litecoin (LTC) will have even greater use, as it will be more efficient as a currency. It will be as efficient as centralized payment systems, less security vulnerabilities.
With all these supporting factors, Litecoin (LTC) could emerge as one of the biggest winners of the upcoming Bull Run. Its strong fundamentals and a widely recognized name make it highly undervalued when trading less than $ 30. If history repeats itself and cryptography exceeds historical highs, Litecoin (LTC) at $ 1000 would be a realistic possibility.
