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

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

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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.

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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 thou ghts

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

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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.

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Mining Tech Giant Canaan Inc. Fails to Raise 25% of Initial IPO

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  • Vladislav Sopov
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    The much-anticipated IPO for the mining manufacturer raises only $90 million. A month ago, Canaan planned to raise as much as $400M.

Mining Tech Giant Canaan Inc. Fails to Raise 25% of Initial IPO
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The long-anticipated initial public offering (IPO) for the Bitcoin (BTC) mining manufacturer Canaan Inc. ended with raising a mediocre $90 million in capital. This cap is 10% smaller than what was anticipated, and 77.5% smaller compared to the figures of the initial IPO cap.

Brilliant Run-Up, Poor Results

Yesterday, the Hangzhou-based company sold 10 million shares within the framework of its public offering at $9 each. Citigroup, China Renaissance Holdings, and CMB International Capital were among the managers of this offering. Prior to filing with the U.S. Securities and Exchange Commission (SEC), the company planned to raise approximately $100 million. These shares would available for trading next Thursday on the NASDAQ under the ticker name "CAN".

The initial plans have been even more fascinating. In October, Canaan filed to be listed in Hong Kong, but the financial watchdogs of the city's stock exchange declared the listing of crypto-related companies as "premature" for Asian financial hub. At that time, a cap of $400 million was scheduled. 

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The former lead underwriter, Credit Suisse, had also left the company prior to the IPO. Blockchain-related IPOs are a difficult pursuit as two moguls of the market, Bitmain and Coinshares, struggled with regulators and delayed their listings.

Mining Producer is in Dire Straits. Can an IPO Help?

Canaan Inc. is the second largest BTC mining manufacturer in the world. During the first half of 2019, its market share was estimated at 21.9% of ASIC hash power sold. The largest company, Bitmain, was responsible for 65.2% of hash power sold during that time.

Despite these facts, the company has shown huge losses. Its cash flows have been negative since 2018. According to their filing, Canaan had a net loss of $48.2 million during the first half of 2019.

The company had planned to expand the development of AI-applications for ASICs, but given the current situation, the capital raised from the IPO could only cover one year of losses.

Will this IPO save Canaan Inc.? If BTC price falls, halving is right around the corner. How will this affect the mining equipment market? Share your thoughts on Twitter.

 

 

 

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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