Statistician, Willy Woo has forecasted that Litecoin’s recent bullish renaissance could trigger Bitcoin’s next bull market. He is well known in the crypto space as the creator of data resource, Woobull.

In a series of tweets on January 6, Woo noted an upturn in Litecoin’s fortunes in recent weeks.

Litecoin Difficulty Ribbon now in recovery. Should setup a bullish breakout of the bearish channel. I wouldn't be surprised if LTC to leads a bullish breakout of BTC. pic.twitter.com/DRJ5AT65fk — Willy Woo (@woonomic) January 6, 2020

It is Litecoin’s mining difficulty that has specifically started rising once again after more than six months of decline. The difficulty represents how much computing efforts is required to process transactions on a crypto’s blockchain.

Miners could retire when there is a drop in price due to low profitability. This could trigger a drop in difficulty, which in turn has implications on network security.

Woo stated that, H2 of 2019 was the largest miner capitulation LTC has ever faced. Litecoin difficulty has been dropping from over 16 million in July 2019 to just 4.7 million in mid-December, according to data from Woobull.

The difficulty has since then started improving and it is currently standing at 5.1 million. With this, Woo claims it could not only trigger a rally for Litecoin but also spill over to fuel the already bubbling Bitcoin market.

Litecoin was launched in 2011 as a hard fork of the Bitcoin Core client. It is currently the sixth largest crypto by market cap. Despite losing considerably in the 2018 altcoin crush, the coin’s performance started improving in 2019. At press time, the coin was up by 1.3% and traded at $45.

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