and what do we learn from all of that ?
If history holds (big "if"), we've learned:
- LTC's moonshot relies entirely on BTC bubbling
- LTC's moonshot is fast and glorious (lasts what, a couple weeks?), and then it spends the rest of its miserable existence in slow, depressing decline
- LTC/BTC ratio moves together in a clearly defined (and repeating) cycle between .01 (lift-off) and .05 (blow-off top)
- Value of this ratio should tell us (generally) where we stand in the overall bubble cycle
That said, we've been scraping the bottom of the ratio for an awfully long time compared to the previous cycles. In the past, .01 was essentially "lift-off." This time around, we seem to be in some sort of prolonged holding pattern... Here's some idle speculation, pulled completely out of my ass: Perhaps given how difficult it still is to get large amounts of fiat into cryptoland, a higher floor for coin prices this time around means it's taking whales that much longer to accumulate their positions?
Curious to hear if anyone else has any similar wild ass speculation here...