Litecoin Could Form Supercycle Model Against Bitcoin, Crypto Analyst Nicholas Merten Says

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Litecoin could be on the verge of rallying with Bitcoin, according to popular crypto analyst Nicholas Merten.

Merten says that even though he gave up his position in Litecoin (LTC) following a false rumor about a partnership with retail giant Walmart, it is nonetheless “a big deal.” . He recommends “keeping an eye on” LTC, as it is currently in the low price range relative to Bitcoin (BTC).

Merten tells his 478,000 YouTube subscribers that Litecoin is currently forming a pattern against Bitcoin similar to the one it did in March 2017, just before embarking on a huge rally against the largest crypto asset.

“I’m not going to say it’s guaranteed by any means, and I think Litecoin… no longer holds the same market weight as it once did. But again, don’t deny the technical patterns, those supercycle patterns that happen every two years in every cycle.

I would definitely say not to ignore this, that there is a potential that we could see even a fraction of [the 2017] rally, and it’s still something significant a potential 2x against Bitcoin, and potentially 2.5-3x.

Litecoin is trading at $ 253.19 at the time of writing.

Merten predicts that trading altcoins will be a better bet overall than Bitcoin this cycle, but with a few caveats.

“I personally think that being in altcoins in general [is] will be a better bet throughout this cycle as long as you’re not all in absolutely speculative small caps, as long as you don’t put all your eggs in one basket, as long as you have some form of diversification, and you have basic research to support your positions.

I think being generally in altcoins, the data that presents it here, is probably more favorable than being in Bitcoin until we approach the peak of the cycle. And when the market correction begins, things will change.

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