So far, the price of Litecoin saw a steadfast and increasing dangerous run at the beginning of 2019. The market capitalization of Litecoin in the year 2019 began with 200 per cent higher only in six months. The longtime cryptocurrency enthusiasts and investors are highly likely to trade the Litecoin tokens. Their only goal is to attain maximum profits.
The experts are currently suggesting that in the near future, Litecoin will again see growth in market capitalization. According to the recent predictions, the market capitalization of Litecoin will increase up to 140% gradually in the next three months. Furthermore, this will enable the token to reach $220 mark after over a year.
The predicted Halving of Litecoin
The cryptocurrency enthusiasts are still looking forward to the halving of Litecoin. By the looks of it, the dissection in the block rewards is going to be around 50%, so 25 LTC would become 12.5 LTC.
Since the inception of cryptocurrency, the halvings are nothing but bullish catalysts for PoF. The PoF is the unlying concept of cryptocurrency. Later, influencial traders & investorswould wait for the moment the halving of Litecoin finishes. Immediately, they will sell or buy Litecoin across the cryptocurrency ecosystem.
The ultimate showdown with Litecoin will not come to life until the 6th of August. On the other hand, the price of Altcoin has steadily increase three-times this year. However, the unpredictable nature of cryptocurrency cannot only justify a straightforward prediction.
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As of now, Litecoin is going through a resistivity phase and a single token currents values around $100. However, the bulls are displaying an extreme determination for predicting Litecoin’s price.
Coinbase recently came up with statistics which suggests that the market will resume the uptrend the moment consolidation comes to an end. Additionally, the average of the statistics speak for itself, and this is the only reason why the investors are optimistic.
The 50-day moving average of Litecoin is more than 100-day MA, whereas the 100-day MA is going to be on top of the 200-day MA. Coinbase’s recent study suggests that Litecoin market capitalization and price of the token will remain healthy.
LTC Price will not go through resistance till it reaches $220
Once Litecoin goes through the pattern to yield more profits in the cryptocurrency world. A lot of people such as cryptocurrency enthusiasts follows, breakout traders among others will be finally back from the sidelines.
The positive momentum is going to generate $175. By the looks of it, this is only possible due to the robust resistance from a macro perspective from $100 to $220.
There is also a highly likely chance that Litecoin will spend some time to incorporate $175 before it reaches to $220. Nevertheless, the optimistic sentiment has been quite intense among the enthusiast and the buyers. Eventually, the buyers are going to front each other and compete against each other same way as the Bitcoin investors.
As the halving of Litecoin is right around the corner, the optimistic investors are crossing their fingers while they expect the cryptocurrency to reach as high as $220 before 2019 August.