Bitcoin Rockets Upwards, but What About Bitcoin Cash (BCH) and Litecoin (LTC)? A Deep Dive into Their Future

Table of Contents

Bitcoin really turned heads in October, soaring close to 30% and sparking a lot of chatter, mostly thanks to rumors of upcoming BTC spot ETF approvals and the much-anticipated halving event in April 2024. Ether, although not as dramatic, is steadily gaining momentum. However, both of these crypto giants still have a ways to go to hit their November 2021 all-time highs. 

Big financial players like BlackRock and Fidelity are looking to get in on the action with Spot Bitcoin ETFs, ramping up expectations across the market. But remember, January 10, 2024, is the day the SEC makes its call, and that decision is going to send waves through the market, one way or another.

Bitcoin Cash (BCH), despite a 23% Q3 dip below $234, has outperformed Bitcoin and other altcoins with a 10% liquidity increase since Q2. Sitting pretty at 17th in market cap, BCH is showing it’s more than just a Bitcoin offshoot, drawing investors back in with recent token updates and its solid performance when the market gets shaky. 

In contrast, Litecoin (LTC) has maintained an average volatility level, not experiencing the extreme ups and downs seen with other cryptocurrencies. For those yearning for a calmer ride in the often tumultuous crypto markets, LTC might just hit the sweet spot alongside ScapesMania (MANIA) that is gaining traction on the presale front for its DAO governance, transparency, and community focus, suggesting a promising future.

While some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project’s appeal.

Presale is Live Now – Join Now for a Chance to Benefit with MANIA

Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.

Presale is Live, Learn More About Major Benefits

Bitcoin Cash (BCH) is currently in a precarious position, navigating between $238.38 and $254.24, with the $259.58 resistance level within sight. The asset’s momentum is showing signs of deceleration, as seen from the 3-10-16 day MACD moving average stalling at $253.01, and the 3-10 day MACD oscillator halting at $245.10. Despite this, the recent surge of BCH above the 9-day moving average at $246.03 indicates a potential shift in the trend.

Source: TradingView

Amid a challenging quarter, the liquidity of Bitcoin Cash (BCH) has surprisingly increased, as highlighted by Kaiko’s data showcasing a spike in trading activity and community engagement. 

Source: Messari

This is a notable deviation from the usual trend, where declining prices lead to lower liquidity. The asset’s interaction with the 18-day moving averages, crossing at $232.83 and $232.66, adds another layer to the market’s complexity.

However, the bearish scenario should not be overlooked. If BCH fails to sustain its position above the 9-day moving average and breaks below the immediate support at $238.38, it could trigger a further decline, potentially testing the $233.05 level and even the $227.79 mark.

As Litecoin (LTC) hits its 12th year in the crypto world, it’s not just about throwing a birthday bash; the network is flexing with an impressive all-time high in its network hashrate. Clocking in at a whopping 180 million transactions, and seeing a lively jive in address activities and big-player moves, LTC is not just sitting pretty, but basking in the growing confidence and uptake from the crypto community.

Source: Santiment

Currently, Litecoin (LTC) finds itself in a fascinating position, trading between $67.75 and $71.68. This is a delicate balance, as LTC also maneuvers around the $71.18 mark, where the 3-10 day MACD oscillator shows signs of stalling. If the bulls manage to push past $71.68, we could be looking at a potential rally towards $72.83. On the other hand, a failure to breach this zone could see the asset retracing back to its immediate support.

Source: TradingView

The bearish scenario paints a picture of Litecoin (LTC) struggling to maintain its ground, potentially slipping below the $67.75 support level. This would place LTC in proximity to the $67.53 mark, where it recently crossed the 9-Day moving average, indicating a possible trend reversal. A further dip could see the cryptocurrency testing the second support point at $66.6, a critical juncture as the 3-10-16 day MACD moving average also shows signs of stalling here. 

The bears might aim for the third support point at $65.22 if the downtrend continues, putting Litecoin (LTC) at risk of erasing recent gains.

Bitcoin truly shone in October, while Ethereum also gained momentum, it hasn’t yet reclaimed its past peak values. Amidst this, Bitcoin Cash (BCH) and Litecoin (LTC) are stealing the spotlight, drawing more and more investors’ attention.

BCH finds itself in a bit of a dance, delicately tiptoeing between key price levels. There’s a hint of a slow down in its momentum, but don’t be fooled – there’s a surge of liquidity that’s a very encouraging sign of things to come. LTC, with its steady-as-she-goes volatility, is making eyes at those looking for a safer harbor in the sometimes stormy seas of the cryptocurrency market.

Whether you’re looking for stability or potential growth, BCH and LTC are proving themselves as compelling choices in the diverse world of cryptocurrency.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.