Did We Just Get a Confirmation of a Bull Run in Bitcoin?

    The world's leading cryptocurrency is again back above $8,000 after falling to nearly $7,650 yesterday. Up 2.20% in the past 24 hours, BTC/USD is currently trading at $8,052, as per Coincodex.

    Bitcoin, however, is further expected to go up, so much so that former hedge fund manager Mike Novogratz “added some at 7700.”

    As BTC makes a positive movement, altcoins are surging as well, emerging as the winners of the green market.

    Bitcoin SV is in the lead with 20% gains while trading at $161.24 and Bitcoin Gold with over 18% gains. Other big gains involve Zcash (9.30%), Dash (8.14%), ETC (7.41%), EOS (7.30%), Litecoin (6.05%), and Bitcoin Cash (5.77%).

    Source: Coin360

    The altcoin in focus here is Litecoin. On-chain analyst Willy Woo says on the low time frame, LTC has been leading BTC and it has “already has broken the next resistance.”

    As we have seen, LTC is up by 3.52% against BTC in the past 24 hours and 5% in the past 7 days. And LTC Woo points out,

    “often leads if you are scalping low time frames or macro trading. Right now there’s critical signals from it.”

    As for where we could go from here, Woo takes on-chain investor activity into account. As per the chart shared by Woo, investor activity in Litecoin has taken a much bigger upswing than BTC. Woo noted,

    “LTC is already very bullish, while BTC is still consolidating around an early bullish swing.”

    Just recently, he had shared that Litecoin difficulty Ribbon is in recovery, after going through the largest miner capitulation that the digital currency has ever faced. It should have a bullish breakout of its bearish channel, projected Woo. At that time, he said,

    “I wouldn't be surprised if LTC to leads a bullish breakout of BTC.”

    Then on Jan. 8, he further pointed out how 1 day RSI breakout of LTC will lead its price to break the six months long bear channel.

    Promoted as the silver to Bitcoin’s gold, Litecoin uses much of the same code as Bitcoin’s blockchain but works on a cheaper and faster scale.

    But Litecoin founder Charlie Lee selling all of his LTC holdings at its peak in December 2017 caused rumblings in the crypto community.

    But Lee then tried to reignite some interest in LTC by announcing that privacy and fungibility would be coming to Litecoin. Currently, Litecoin Foundation along with David Burkett, a Grin++ developer are working on MimbleWimble implementation.

    Also, LTC reward halving on August 5 triggered a short-lived price rally that has many trying to predict the Bitcoin price movement during its upcoming halving in May. Woo said,

    “In a nutshell, I'm expecting a bullish run in BTC lead by LTC as a confirmation signal.”

    Bitcoin (BTC) Live Price

    1 BTC/USD =$8,747.1848 change ~ 3.02%

    Coin Market Cap

    $159.06 Billion

    24 Hour Volume

    $4.86 Billion

    24 Hour VWAP

    $8.63 K

    24 Hour Change


    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Money Is At Risk In Banks, Bitcoin Is Probably The Most Secure Currency Right Now: Tim Draper

    “If we're able to hold above $7,800, it will be a very good sign,” - Mati Greenspan Venture Capitalist advises millennial's to start...

    XRPL Labs Founder Wietse Wind's XRP TipBot Banned On Twitter, A Sign To Come For Tipping Bots?

    On January 24, Twitter decided to disrupt the XRP community by banning the XRP Tip Bot account, which is a service developed by the...

    Litecoin Founder Charlie Lee Proposes 1% Block Reward Funding Plan To Rake in $1.5 Million

    Proposal for donating 1% of block rewards to generate $1.5 million per year It’s like paying for your kid’s college and “securing your...

    Travala Expands Its Crypto Payments Options By Adding NEM's XEM Token

    Travel platform Travala, a firm that allows its customers to pay for hotel accommodations using digital currencies, has partnered with the NEM Foundation to...

    Elon Musk Thinks Crypto Could Be a Replacement for Cash

    Billionaire, SpaceX and Tesla CEO Elon Musk is also known for his cryptic tweets on crypto and Bitcoin (BTC), but on January 20, he...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.