This used to be the case. LTC reacted to bitcoin way more back in day, but here's a percentage comparison chart from tradingview, and that tells another story:
One can counter that argument with three reasons:
1) Bitcoin has had an exceptionally good early bull market these last two years. This can be probably attributed mainly to the US ETFs. Which are lacking at altcoins (with the exception of ETH, but on ETH they are another story, because of the "no staking allowed" problem which makes them less competitive)
2) As I already wrote in the last post, LTC tends to a "sleep in the early bull and then eventually explode" pattern. It is currently in the "sleeping phase", and of course we can't be sure that it will explode, but there's one thing for sure: it is still in a long term bull market if we consider "higher lows" to be the most important factor. Its "explosion" also occurred in altcoin seasons, and we haven't seen any of these (except some memecoin waves) since late 2022.
3) Already in the last bull market LTC performed a bit worse than Bitcoin. This is however not exclusive to LTC but to most other altcoins too. Those who survive a complete cycle in the top-50 (approximately) will very likely underperform compared to BTC in the last one. This even applies to the so much hyped Solana, which is still only at slightly over half of its ATH of $260.
And saying it's old sounds like it's the only good fundamental it has.
I agree about that, but the good fundamentals are the transaction count and the general very good-looking usage stats, see my last post.
It was just a fair launch, but so many coins have fair launch.
Actually not many coins in the top-100 on Coingecko or CMC had a fair launch. The only ones are: Doge, LTC, XMR, and with a lot of good will Kaspa. I am tracking them in
this list (updated irregularly), or directly in
this Coingecko portfolio.
