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Litecoin has been performing very well despite the bearish conditions of the blockchain markets over the last few recent days.
The price has rocketed over 14% in the last 24 hours up to $70.11 and over the last four weeks has moved up 64% on the BTC/LTC chart which reflects very good strength from the bulls.
Big analyst @CryptoDonAlt is also very bullish on Litecoin at the moment and realized that LTC is usually good to accumulate during a bear market cycle where the upside potential is maximized.
He states that Litecoin usually pumps at the bottom during bear markets, this is exactly what is happening with Litecoin today.
According to Coinmarketcap Litecoin is now rank #13 amongst other cryptocurrencies and is now battling for the top 10 position.
With a total market capital of just over $5 billion and a 13% move during the most bearish of crypto markets, new eyes are certainly keen to explore or potentially even consider dollar cost averaging into Litecoin at these levels.
I speculate that the winners always buy at the bottom for Litecoin. This is where the market sentiment oozes with extreme fear and we delve deeper and deeper into a crypto bear market.
We can see that recently Litecoin was oversold on this particular weekly time frame in May following the Terra Luna Crash.
Following this, we have seen a pump of roughly 50.4%, if history repeats itself we could potentially see Litecoin rocket up towards the $400 price levels and realize almost 1,000% gains again, just like in the bear market of 2020.
The rule of thumb here is to accumulate within the green rectangle (bearRead more on cryptonews.com