Analysis: Litecoin is closely related to Bitcoin price trend, but its performance is unlikely to lead Bitcoin

Bitcoin has surged 30% in the past month. There are charts showing that Litecoin's performance is likely to outperform Bitcoin. This happened last year, when Litecoin rose more than 300% in a few months. Crypto analyst Loma recently shared a chart showing the close relationship between Litecoin and Bitcoin price movements. He also asked the crypto community if Litecoin would lead Bitcoin again. In the first half of 2019, Litecoin grew by more than 300% due to the market's expectations of halving block rewards. This triggered a broader market rally, with Bitcoin being one of the biggest winners. Specifically, because the crypto community buys and holds Bitcoin, because they expect a similar rise in Bitcoin this year. But after halving, Litecoin's price plummeted, which was the result of its plummeting hashrate. During the peak period in mid-June, the price of Litecoin was $ 140, which had dropped to $ 40 by the end of the year. In 2020, like most cryptocurrencies, Litecoin is making a comeback, rising by more than 20%, and surpassing $ 70 at the beginning of February. According to CoinGape's previous report, Litecoin is expected to gain more revenue, which has been confirmed to be a golden cross, and the bulls should soon expect it to reach $ 100. The correlation of trading patterns is accurate. But Litecoin is unlikely to lead Bitcoin. Bitcoin may follow the same pattern as it is now less than 100 days from halving. In response to Loma, Twitter users stated that the bullish trend is a trend common to all cryptocurrencies.