U.Today Franchise
0
📈 Price Predictions

LTC Price Prediction: $150 by Summer. How Will the Halvening Impact LTC’s Price?

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
LTC Price Prediction: $150 by Summer
Cover image via www.123rf.com

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.

Contents

Finally, it seems like Litecoin has settled down and isn’t going to break over the walls of resistance. However, when it comes to cryptocurrency price predictions, no one can say for sure – technical analysis is not a 100% guarantee, though it increases the chances for successful trading. So, what to do with Litecoin now that it’s steadily rising? Read LTC price predictions from tradingview users.

593% rise after halving – will it repeat?

Halvening can cause a fantastic LTC spike

The user safesignal compared Litecoin’s price performance in 2015 and in 2019. Back then, Litecoin grew by 593% up in last halving: it reached the top 46 days before the halving date and how about now? It has already spiked reaching $80, and it’s possible to reach the higher highs within the 46 days after halvening, e.g. in summer 2019. Turns out, there’s a chance for traders to multiply their profits if LTC’s halvening really impacts the price.

As for the short term, the potential upside is based on current market conditions and run up prior to the last halvening event. The high should be around the first week of July vs end of June. The previous 2015 halving bull run peaked on July 10th, so around that time it should be expected.

👉MUST READ

LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

But why is it going sideways?

LTC is going sideways

As milton_sp notes, Litecoin made an amazing recovery this week, disrupting the forming downward trend. Seems like it is consolidating like all other coins. Want to make an investment? We should wait for better signals to open long term positions.

So, what’s the current trend?

  • LTC is going sideways. Why? There’s a consolidation with a downward tendency.

  • MACD is over the 0 line; it will probably hover around it.

  • SMAs are too close, traveling almost horizontally.

The Litecoin price should travel away from SMA 26 or SMA 70 to confirm a trend setup.

👉MUST READ

Litecoin (LTC): Top 5 Places to Help You Part with It

Litecoin (LTC): Top 5 Places to Help You Part with It

Clean bullish trend has formed

A clear bullish uptrend is here

Although Litecoin has managed to stabilize and hovers around $70, it’s been so long since we've seen strong, clean bull flags that confirm a clear uptrend. Judging by the LTC price from CryptoniteTV, we can see a clear picture and rest assured that bulls are here, preparing the new surprises and profits for us! Good news!

LTC/BTC is not a stable bet

LTC lacks technological superiority to grow

Now let’s take a look at LTC/BTC performance. According to the trader Xandolf, LTC will probably be around for a long time, but they are starting to fall into the same funk that BTC has fallen in, and that is a lack of innovation. However, making LTC a privacy coin is a good way to go, especially since there are so many good privacy coins out there already. If LTC doesn't get its act together it will get pushed below coins like DGB that are solidly innovating on a regular basis, Especially once DGB releases Digi-assets. It’s very likely to stay unstable on the LTC/BTC path, so making such investments isn’t a good idea.

Final thoughts

Right now, we are at the position when both short-term and long-term LTC trading are beneficial for us. LTC is very likely to hit the $150 target by the beginning of summer 2019 since it’s growing steadily and doesn’t seem to be approaching the support line.

In the long term, traders hope for LTC halvening. Litecoin’s mining block reward halves every 840,000 blocks, which takes roughly 4 years to reach. Technical analysis charts prove that there is a correlation between halving dates and price movement. In theory, a halving event will start reducing supply which could increase demand. That’s why it’s likely for LTC to grow by 100%, 200%, or even 500% by August 2019.

Price charts are taken from TradingView

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

Recommended articles
CLOUD MININGPromoted
0
📰 News

Bitcoin Price Can Be Easily Pushed Down by Whales: Professor John Griffin

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    John Griffin says that rapid price swings are possible because it can be manipulated by deep-pocketed whales who are not stronger than ever

Bitcoin Price Can Be Easily Pushed Down by Whales: Professor John Griffin
Cover image via u.today
Contents

Economics professor John Griffin recently rang alarm bells over the impact of Bitcoin whales on the Bitcoin market. 

Griffin told Bloomberg that a few large players could easily push the BTC price down at a whim. 

"The problem with a few large players holding crypto is that when they sell they can easily push the price down, which makes the market susceptible to rapid swings."  

👉MUST READ

Bitcoin Is Dying, According to Top Trader Who Masterfully Shorted BTC at $20,000

Bitcoin Is Dying, According to Top Trader Who Masterfully Shorted BTC at $20,000

Whales are getting more powerful 

According to data released by CoinMetrics, the number of orange coins controlled by deep-pocketed Bitcoin investors reached its highest point in four years in 2019. As of December, a whopping 42.1 percent of Bitcoin's total circulating supply is stored in wallets that hold between 1,000 and 1 mln BTC. 

While crypto exchanges are known to be the owners of the richest Bitcoin addresses, investor Aaron Brown warms some of the new whales on the block are family offices and affluent individuals who are not exactly keen Bitcoin believers who might be tempted to jump ship if things turn south. 

“I doubt they have infinite patience, and without significant growth in actual use, I would expect them to quietly withdraw to chase other promising technologies,” Brown said.

👉MUST READ

Peter Schiff Says Bitcoin Is Running Out of Buyers to 'Keep Ponzi Going'

Peter Schiff Says Bitcoin Is Running Out of Buyers to 'Keep Ponzi Going'

Becrying Tether's impact on Bitcoin 

Speaking of those who don't believe in Bitcoin, Griffin probably takes the cake as one of the most prominent naysayers. Back in June 2018, together with his colleague Amin Shams, he published a paper that explores how Tether was allegedly responsible for propelling Bitcoin to new highs during the peak of the previous bull market in December 2018. 

At the beginning of November, the two academics came up with an even more shooking claim -- the historic ascent of Bitcoin to its current all-time high of $20,000 was the deed of a single whale on Bitfinex, the affiliated exchange of Tether.

Tether dismissed the updated study as a puff piece that was meant to back up a $1.4 trln lawsuit against the flagship stablecoin issuer. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted