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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Litecoin Showing Real Value in 2019 β€” Price Almost Doubled Thanks to Positive Improvements

  • Darryn Pollock
    πŸ“ˆ Price Predictions

    πŸ”πŸ€‘πŸ”After a slow 2018, one of the original altcoins, Litecoin, is showing real promise with its price almost doubling in three months.

Litecoin Showing Real Value in 2019 β€” Price Almost Doubled Thanks to Positive Improvements
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Litecoin arrived on the cryptocurrency market as the silver to Bitcoin’s gold. It is one of the older altcoins, and one with quite good fundamentals and proofs. But of late, Litecoin has fallen a little off the radar, especially through 2018, and also been falling down the market cap standings.

That seems to be changing in 2019 with Litecoin now almost doubling its value from the beginning of the year, up more than 84%. The coin has managed to profit from some good businesses decisions from the Litecoin Foundation, as well as slightly improved market conditions as the bear market slows down.

A massive fall

While Litecoin is not unique, it did have a massive fall from the highs of the cryptocurrency market towards the end of last 2017. Most coins suffered between 70 and 90 percent drops over the bearish 2018, but Litecoin was hit hard.

After peaking at more than $375 in December 2017, the cryptocurrency lost more than 90% of its value, falling below $25 late last year. By experiencing such a dramatic decline, Litecoin may have become oversold, claimed analysts.

But, this could set the digital asset up for impressive gains.

"The harder an asset price falls, the steeper the rebound often is and that seems to be a factor in Litecoin's sharp gains this year," said Josiah Hernandez, chief investment officer of Satoshi Capital.

Doubling in growth

There have been some positive advancements for Litecoin in recent times, which also includes the uptake of the Lightning Network as more and more people understand the need for quick and frictionless transactions, which Litecoin offers.

More so, countries in need of a cryptocurrency alternative have also approved Litecoin as a good option β€” such has happened in Venezuela. Litecoin Core 0.17 is also soon to be released, which will take the fees on using the coin even lower.

Another major development cited as potentially bolstering Litecoin prices is hope that the so-called "crypto winter," which has seen these harsh market conditions affect the price of coins, may well be coming to an end.

With Litecoin always having a solid foundation, as well as good uses cases, a new cryptocurrency spring will most likely have a big effect on this coin going forward.

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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
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After trying to retain the position above $4,000, Bitcoin seems to be stuck. What to expect from BTC during the following weeks? What’s the best time to invest in Bitcoin? Let’s try to figure it out with tradingview users: they will provide their BTC price predictions and opinions about investment strategies.

Bitcoin has to break another resistance

Both shortage and resistance breaking are possible for BTC

Bitcoin price chart from DianKemala

This BTC price chart clearly explains the influence of the Fibonacci level on its price. Traders saw a big bearish candle 2 days ago, but bears stopped at $3,936 and started performing a sideways consolidation pattern.

Bitcoin failed to break the Fibonacci resistance zone (4004 - 3986), which isn’t a bullish sign, but we have another resistance above at $4,038. If Bitcoin is able to break up this resistance, the bullish period will continue. The important support before the bearish period is around $3,936. If this support breaks down, expect a bearish target at $3,860, or maximum at $3,780. 

Will BTC get back to $3,600?

$3,600 level is ideal for investments

Bitcoin price chart from MarcPMarkets

We are watching the BTC market trying to overcome 4K resistance level with varying success. According to MarcPMarkets, the current BTC trading environment does not offer an attractive reward/risk for putting any new money to work.

All risks should be properly assessed. The low 4K area is still the range resistance, while the lower 3K area is the range support. In the green box, you can view the potential reward, while the red box represents the potential risk. Why would we put on any new swing trades at range highs when chances are the price is more likely to test much lower levels in the short term? 

Candlesticks or RSI are not the only signals of upcoming BTC fall. The fact that price is beginning to show signs of structural weakness confirms our reasoning that staying out of any new swing trades near the range highs is the best choice for now. Support levels begin around the high 3600s and continue through to the 3450 levels. That might be the ideal time for investments.

Although supply may be slowly removed from the market, it will take some time before the effects play out. So we will continue to wait for two particular scenarios: 1) price retraces toward the lower part of the range for a reversal to go long; or 2) price breaks beyond 4150 and provides a momentum continuation pattern for a long.

BTC is ready for capitulation

 BTC movement is around the corner

Bitcoin price chart from DataPatron

During several months Bitcoin was consolidating in a tight range between $3,300 and $4,400. Now it seems to be completing sideways mission, and long term volatility promises a serious movement that’s around the corner.

I am almost sure another red leg symmetrical to the previous one (from 6 to 3k) is before us.

All in all, Bitcoin is in a broader recovery over the long term, but the short term is just not in a position that offers attractive reward/risk. Consider an investment in BTC, if it hits the $3,600-3,700 bottom line in a few weeks.

BTC/USD price chart on TradingView

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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