Crypto Experts Voice Wild Litecoin Price Predictions. Is $1,000 Even Realistic?

  • Alex Dovbnya
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    👁🔛All eyes on Litecoin as its pre-halving price action might be indicative of what will happen to Bitcoin in 2020🔜 💱


Crypto Experts Voice Wild Litecoin Price Predictions. Is $1,000 Even Realistic?
Contents

Cryptocurrency trader Luke Martin claims that experts are upping the ante for Litecoin, the early Bitcoin spin-off that has been gaining traction ahead of its upcoming halvening. He doesn’t see the LTC price hitting $1,000 in the short-term, but “nothing is guaranteed.”

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Litecoin’s wild rally

As reported by U.Today, Litecoin has recently reached its highest price since May as an aftermath of its already super-impressive rally in 2019.

The 50 percent reduction of the mining reward (the so-called halvening), which is expected to happen in August, undoubtedly serves as the major catalyst for the coin’s consistent price gains.

With a market cap of $8.4 bln, LTC definitely stands from the crowd (just take a look at its weekly price chart).

Over the last 24 hours, LTC increased by 6.49 percent while the rest of the CoinMarketCap top 10 remains in the red along with the big daddy – Bitcoin.

The six biggest coins by market capitalizations
Litecoin is the only top cryptocurrency in the green, image by CoinMarketCap

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Charlie Lee Reckons (LTC) Price Will Hit $1,000

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Polarizing numbers

Another Twitter influencer Crypto Dog that Litecoin could actually shed of its price gains price before the halvening event. This would be an opportunity to buy the dip since he believes that Litecoin is going “much much higher.”

How high? Some experts are already mentioning the $1,000 figure. That seems like an absolutely crazy forecast if to consider that LTC’s current ATH, which was recorded due to the bull market peak, is $313.

Notably, after the previous halving that took place on Aug. 26, 2015, the LTC/BTC price actually decreased by 50 percent.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
Contents

Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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