I think it's time for a little update on the state of things regarding the three major decentralized altcoins.
First, let's talk about
Monero (XMR). Coingecko shows us an interesting pattern: it was, in the last 90 days, almost 100% pegged to Bitcoin, following all of BTC's ups and (mostly) downs. There are only short term significative variations: so when bitcoin dipped from the 29k to the 26k level, Monero went up for some days, but then returning to the mean fastly, which is between 0.0054 and 0.0056 BTC.
Monero was in the past indeed one of the most stable altcoins, but this level of "peg" is surprising. I think there are good reasons to think this could be continue. However, that could change if Bitcoin turns bullish again. I would expect a price increase with respect to BTC in this case.
SourceLitecoin (LTC) instead suffered a major crash around and after its block reward halving date in August. In late August, after a bearish "glide", a single selloff event crashed it down into the 60-70$ area, or 0.0024-0.0025 in BTC. Since then however, it hovers around these values in a quite stable manner, and there were no major variations neither compared to the USD nor to BTC.
My guess for the following months is here that the further price development could be very dependant on the general market sentiment. If the market turns bullish, I guess LTC could recover even more than BTC. In the case of a continuation of the sideways market however it's not unlikely that we see another dip even compared to BTC. Anyway, I think surpassing the 0.0025 mark would imo trigger probably an uptrend, and the 0.00238 low should be held to prevent another dip.
In general terms I continue to think that LTC is long term undervalued, as it's a currency with a significant regular usage.
SourceDogecoin (DOGE) had a similar selloff as LTC in late August, however it "only" crashed until the mid-year levels after a short uptrend in late July and early August. It then stabilized, but still is in a very slight bearish trend.
I think DOGE is the most speculative of all three decentralized alts. I have several times thought its time as a memecoin was over, but it surprised me a lot of times with new heights, in particular in the era when everybody and their grandpa traded Elon Musk's tweets. So while in my opinion it's maybe the coin with the least positive long term outlook (as it's used a lot less for transactions than LTC, for example, despite its reputation as a "tipping" cryptocurrency) I don't rule out that it can surprise me again and, for example, passes the 10 cent mark again eventually. For example, there's a real possibility for it to form a double bottom pattern. It continues to be a coin for gamblers
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