Litecoin Surges 14% in Post-Halving Spike, Next One in 2023

All eyes have been on Bitcoin today as the king of crypto cranked ten percent to tap $11,800 during earlier Asian trading. The altcoins have been slow to react as usual but they are starting to wake up now with Litecoin leading the way in a post-halving pump.
Litecoin Spikes 14 Percent
Usually price pumps happen before halving events but Litecoin has started spiking a few hours ago. From an intraday low of around $92 LTC surged through the psychological $100 barrier to top out at $107 an hour or so ago according to Tradingview. The move has added 14 percent to Litecoin prices over the past 24 hours.
LTC price one hour chart –
Initially the momentum was driven by Bitcoin’s blast as Chinese buyers started loading up earlier this morning. A weakening local currency has driven them into offshore assets such as BTC as Trump’s trade war escalates. Often seen as silver to Bitcoin’s gold, Litecoin may also be viewed as a solid investment at less than 9 percent of the price of BTC.
Litecoin has now halved with the next one due in 2023, 1458 days away according to the block half counter. Around 75 percent of all Litecoins have already been mined with 63 million in circulation out of a total of 84 million. The halving has also decreased annual inflation to 4.26 percent which has the effect of potentially increasing value while appearing to decrease the supply.
Founder Charlie Lee has noted that blocks are being created much faster than the expected 2.5 minutes which is a good sign of network health.
“Since the halving, 12 blocks have been found in 17 minutes.
Seems like miners have not shut off their hashrate at all. Instead, we are mining at a rate of a block every 1.4 minutes on average, which is much faster than the expected 2.5 minutes.
Litecoin network is healthy!”

Since the halving, 12 blocks have been found in 17 minutes.
Seems like miners have not shut off their hashrate at all. Instead, we are mining at a rate of a block every 1.4 minutes on average, which is much faster than the expected 2.5 minutes.
Litecoin network is healthy!
— Charlie Lee [LTC] (@SatoshiLite) August 5, 2019

LTC price is also pretty healthy, even after its 40 percent pullback. So far this year Litecoin has outperformed Bitcoin with an increase of 240 percent from around $30 on New Year’s Day to current prices just below $105. Today’s pump has enable LTC to flip BCH for fourth place with a market capitalization of $6.4 billion.
Altcoins Gaining Momentum
Litecoin is not the only crypto asset getting a boost this Monday. Ethereum has added around 7 percent on the day to reach $235 and XRP has made a rare 5 percent move to get to $0.33. Bitcoin Cash and EOS have both added over 5 percent and BSV is getting a 6 percent gain.
Further down the list, Monero, Dash, NEO, Ethereum Classic and NEM are all moving well gaining 6-7 percent on the day. Total crypto market cap is now at $310 billion following a $23 billion cash influx during the Asian trading session.
Image from Shutterstock
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Source: New

Litecoin Co-Founder Predicts Doom In August, LTC Down 14.5%

Litecoin (LTC) down 14.5 percent
Halving will see prices drop and miners crashed

Charlie Lee is predicting doom. Because of August halving and a high possibility of low prices, many miners will shut down due to losses. In the meantime, LTC is down 14.5 percent.
Litecoin Price Analysis
Like any other network where consensus is via a proof-of-work algorithm, Litecoin is secure because of miners. Miners, according to many textbook definitions, have the sole purpose of confirming transactions and fortifying the network by committing their computational power.
Since gear is expensive and electricity is added expenditure, there must be a way of incentivizing the masses to participate. Within Litecoin and like Bitcoin, successful miners with superior gear committing the most of their computational power get 25 LTCs for every successful block.
However, in less than a month from now, that amount will be slashed by half to 12.5 LTCs. For the ordinary investor, LTC will likely surge. All the same, there is this realization that despite the optimism, supply-demand dynamics may have “priced-in” next month’s LTC value.
In that eventuality, bulls will likely falter. Worse, with dropping LTC prices and shrinking rewards, Charlie Lee, the Co-Founder of Litecoin, now says many miners may exit thanks to resulting scarcity shock:
“The halvening is always kind of a shock to the system. When the mining rewards get cut in half, some miners will not be profitable, and they will shut off their machine. If a big percentage does that, then blocks will slow down for some time. For Litecoin it’s three and a half days before the next change, so possibly like seven days of slower blocks, and then after that, the difficulty will readjust, and everything will be fine.”
Candlestick Arrangement

At fourth, Litecoin is well-capitalized thanks to exemplary performance in the first half of the year. The rally from lows of $20 to over $120, Litecoin bulls were on a roll. However, like all near perpendicular expansions, the correction is often brutal.
Evident in LTC price action, the coin is down 14.5 percent in 24 hours and likely to lose more in coming days. From the chart, the drop below $100 is leading. Since LTC is within a bullish breakout pattern against the USD and currently retesting the main support trend line, any breach and close below $90 could trigger panic sells.
In a typical correction, odds are LTC will drop to $50 before recovering.
Technical Indicators
Therefore, from above June 27 candlestick is leading. As an extensive bear bar differentiating itself from others with high trading volumes of 824k, any close below the support trend line must be with equally high participation. Should LTC drop below $90 with a spike in participation confirming losses of June 27, prices may drop to $50 in a typical retest.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Source: New

Litecoin Surged 400% The Month Before Last Halving, Will it Repeat This Time?

All eyes have been on Bitcoin since its peak on Thursday. Many have been expecting a wider correction which so far has failed to materialize. As BTC consolidates today, some of its siblings have started taking off and Litecoin is leading the pack during weekend trading.
Litecoin Surges 15% on Sunday
Weekend trading has been pretty weak for most of the altcoins. Very few of them have made more than a couple of percent back from their double digit dumps on Friday. When the Bitcoin flash crash shaved $55 billion off crypto markets, Litecoin dumped back to $110. The correction resulted in a 24 percent slide from its recent high of $145.
Bitcoin’s correction was a similar 25 percent from $13,800 to a low of $10,300 before it started to recover again. At the moment BTC is back over $12,000 but Litecoin has pumped today reaching $135 again before starting to consolidate.
LTC price 24 hours.
Daily volume for LTC has cranked up to $5.7 billion which has pushed market capitalization back above $8 billion allowing it to regain fourth spot from Bitcoin Cash which has not moved much in comparison. Litecoin has now recovered almost all losses from the recent mini-pullback. On the year LTC has made an epic 333 percent gain, outperforming even Bitcoin.
Halving Only 36 Days Away – 400% Surge Last Time Around
The Litecoin halving is now almost a month away, slated for August 5. Now that LTC has shown resilience and recovered all losses while the altcoins around it are still weakened, further gains are likely regardless of what Bitcoin does in the coming days.
The next major resistance level for LTC is around $180, with a higher one at $225. When Litecoin moves, it does not hang around. In early December 2017, LTC was priced similarly to today, however over the next week or so it pumped to $370 adding almost 175 percent in just a few days. This was purely speculative FOMO with no technical or fundamental indicators such as a halving event.
Litecoin’s last halving was in August 2015. The month before this happened, LTC surged a mind blowing 400 percent from $1.70 to $8.50 so a similar pump this time around may not be out of the question.
Other altcoins have been asleep comparatively. Bitcoin Cash has lost its fourth spot to LTC despite adding 5 percent today to reach $440. EOS has been very lackluster clawing back just a few percent from its recent double digit dump, and Binance Coin is also pretty quiet today.
A few of the alts besides Litecoin are back on track this Sunday however. Chainlink is still cranking on the recent Coinbase Pro listing as LINK surges 23 percent to top $4. BAT is also going well with 12 percent gained and BitTorrent Token is up 10 percent as the BT file system testnet is about to go live in a couple of days.
Image from Shutterstock
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Source: New

Bitcoin’s low inflation rate post-halving speculated to be key factor for mass adoption

Bitcoin’s volatile behavior has been considered as one of the reasons why institutional investors largely deferred from participating in the industry. After the recent bull run however, the industry is abuzz with news about industry bigwigs taking the plunge into the world of digital assets. Anthony Pompliano, Founder of Morgan Creek Digital Capital, recently spoke […]
The post Bitcoin’s low inflation rate post-halving speculated to be key factor for mass adoption appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet

Throughout most of 2019, Litecoin – the cryptocurrency forked from Bitcoin’s codebase by former Google programmer Charlie Lee – has led the entire crypto space out of the depths of the longest bear market on record. Much of the bullish sentiment surrounding Litecoin price is being driven by pre-halving speculation. Profit-hungry crypto investors have been buying up Litecoin ahead of a potential price increase.
But with Litecoin’s halving less than 60 days away, and with the asset nearing 600% returns for investors who boldly took a risk and bought the bottom back in December in anticipation of the pre-halving pump, the rally may soon be running out of steam. One crypto analyst believes that Litecoin price still has room to climb, but has issued an ominous warning that a potential 73% drop could be ahead in the coming days.
Crypto Trader Expects LTC/BTC Ratio to Hit 0.034 In Pre-Halving Spike
Litecoin often leads the crypto market. And ahead of its halving, most of the crypto community has considered the silver to Bitcoin’s digital gold to be a “no brainer” of an investment.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher? 
Each halving reduces the block reward miners receive for validating the blockchain. Come this August, the amount of LTC miners receive will be reduced from 25 LTC – approximately $3,475 at current prices – to 12.5 LTC, also reducing the USD equivalent value miners receive for the same amount of effort.
The abrupt shift in the balance of supply and demand, investors believe, creates an increase in price that often gets front run.
That front-running has helped take the price of Litecoin from a bear market low of near $20 to a 600% return as the price nears $140 in the LTC/USD trading pair.
— Master litecoin ATH incoming (@xtdisnkfe) June 12, 2019

In the LTC/BTC pair, one prominent crypto analyst believes a massive, multi-month cup and handle formation will take the ratio to a target of 0.34 once the formation confirms. If Bitcoin price stays around $8,000, this would bring Litecoin price to roughly $270. If Bitcoin is to climb higher alongside Litecoin while it surges even higher on the ratio, Litecoin could potentially paint new all-time highs in USD value.

10 Days Left of Litecoin Price Pump, Secure Profits Ahead of 73% Drop
If the halving truly was already front run as many crypto investors believe, risk increases by the day that the earliest buyers will begin securing profits, which will stop the rally dead in its tracks and cause a powerful correction.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer” 
The same crypto analyst that has lofty price targets for LTC/USD and LTC/BTC and has been accurate in his predictions thus far, believes there are only 10 days left in the rally before the tides sharply turn.

I think we have about 10 more days of litecoin pumping…
I’ve started to move some out of litecoin into bitcoin
If you look at 2015 45 days before they halving the price peaked and drop 73% be aware
45 days will be June 22
Protect some of your profits especially if your new
— Master litecoin ATH incoming (@xtdisnkfe) June 11, 2019

According to the last Litecoin halving back in 2015, the final days leading up to the halving caused Litecoin to absolutely moon, doubling in value relative to Bitcoin. Immediately after buyers began taking profits, Litecoin price fell 73%, as early investors dumped on those FOMOing in too late.
That dump occurred 45 days ahead of Litecoin’s last halving. The next halving is in less than 55 days. When will you secure Litecoin pre-halving profits? Or will you be left holding a bag?
Featured image by Shutterstock
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Source: New

Crypto World Is Bullish on Litecoin Price, But Was Halving Rally Already Front Run?

Since the start of 2019, Litecoin has been the light leading the crypto market out of its bearish tunnel and into a new bullish rally. After bear market lows were set around $20, the crypto asset has since went on to provide investors with 500% returns.
While many expect that Litecoin has only gotten started, and is a “no brainer” investment ahead of its upcoming halving, others conclude that the silver to Bitcoin’s digital gold could have already had its pre-halving rally front run, and further gains to the upside will be limited. In fact, some crypto analysts believe that not only has Litecoin price run out of steam, but the asset could plummet in the coming weeks despite hype surrounding the halving.
Crypto Analysts Majorly Bullish On Litecoin After Reaching “Fresh Highs”
With Litecoin’s halving less than 60 days away, all corners of the cryptosphere are bullish on the cryptocurrency designed by Charlie Lee.

Monsterously bullish on litecoin
1. Inverted head & shoulders2. Cup & handle 3. Previously parabolic July 2015
3 best litecoin charts
Find me a better one
Retweet $ltcbtc #litecoinhalving #ltc@TheCryptoDog @PeterLBrandt @APompliano @filbfilb @cryptorecruitr
— Master (@xtdisnkfe) June 9, 2019

Crypto analysts claim the digital currency displays one of the best charts across the market, but on its LTC/USD and LTC/BTC trading pairs. On the “ratio” Litecoin, a cup and handle or a inverse head and shoulders are forming – both bullish price patterns.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer” 
The bullish sentiment has led to “fresh highs” in Litecoin, but the majority of it is driven by pre-halving hype.

Fresh highs for $LTC.
— Mati Greenspan (@MatiGreenspan) June 10, 2019

Litecoin’s halving will see the block reward miners receive for securing the network and validating blocks cut in half – hence the “halving” name – to just 12.5 LTC. Such an event tends to offset supply and demand of the asset, and is an event that investors front run in anticipation of enormous gains.

But Has the Pre-Halving Rally Already Been Front-Run?
Since Litecoin’s low near $20, the crypto asset has brought those willing to take a risk in the depths of the bear market incredible gains of 500%. And although the entire crypto market is bullish on Litecoin, the fact it’s already posted such gains could mean that it’s got little fuel left in its rocket to reach the highs crypto analysts are calling for.

RW + bear div
death looking imminent
support near 55-70
article on Chikun coming later this week for @bravenewcoin
— Josh Olszewicz (@CarpeNoctom) June 10, 2019

Instead, a large bearish divergence on the one-day LTC/USD price chart accompanied by an ascending wedge formation, could send the price of the asset back down to support near $55 to $70, claims crypto analyst, Josh Olszewicz.

The porfolio of people that fomo buy $LTC in July will probably halven too
— Walter Wyckoff (@walter_wyckoff) June 10, 2019

His theory is supported by a select few other contrarian and risk-averse traders and analysts, who warn that not only will Litecoin “halven” in the days ahead, so will the capital of Litecoin investors.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher?
If Litecoin price halvens, and not just the supply miners receive for each block reward, it would put the price target in line with the support levels on the price chart.
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Source: New

Bitcoin Bulls May Get Another Chance At $10,000 As Crypto Market Shows Strength

The saying goes, “what goes up, must come down.” Yet to everyone’s surprise, Bitcoin’s downside resilience despite an over 100% gain over the last few months of parabolic growth has continued to prevent the correction most analysts expect from ever occurring.
But now, as the crypto market is once again showing signs of strength, bulls appear to be gaining the upper hand. Should bulls be able to take the Bitcoin price above resistance at $8,200, the leading crypto by market cap should make another attempt at $9,000 and may finally revisit important bear market psychological resistance at $10,000.
Crypto Bulls Defend $7,000, Reclaim $8,000
Over the last couple of weeks, Bitcoin’s parabolic rally began to look like it was coming to an end, with the price of the cryptocurrency falling back below $8,000 for a local low around $7,400. After a strong bounce, resistance has turned support, and it could lead to Bitcoin price targeting $8,200, according to crypto analysts.

$BTC: Bullish Resistance Flips to Support
A close above current resistance will be a nice move for Bitcoin which could lead to a retest of the resistance in the $8200s
A break and close above $8200s would bullish for a further move up to high $8ks
— Josh Rager (@Josh_Rager) June 7, 2019

A break above $8,200, according to analysts, would lead to further upward momentum. The break back above $8,000 has already sparked FOMO-driven “spot buying” on some exchanges, from traders who think this rocket has more fuel left.

So much spot buying.
— wolf (@ImNotTheWolf) June 7, 2019

The FOMO could help take the price of Bitcoin closer toward $10,000 – a key rounded number that Tom Lee says will trigger a cascade of additional FOMO across the entire market.

$BTC chart update.. Still range bound between 7500 and 8000.
You'll know when we break out of this range for real, because we will be at 10K very quickly
— cryptocomicon (@cryptocomicon) June 7, 2019

Not everyone is convinced by the bullish movement, but those unconvinced still agree that $8,200 is an important level that if reclaimed, will set the direction forward in the coming days.

I don’t think we will actually see 8.2k on $BTC. Meaning I think if we are to dump today we will fall just short of it. If we do hit 8.2k it opens the doors up for much higher imo.
— Credible Crypto (@CredibleCrypto) June 7, 2019

Altcoin Sentiment Could Be Propelling Bitcoin Price Higher
Sentiment is particularly bullish across the crypto landscape, as prominent traders and analysts gear up for the eventual “alt season” most are expecting to occur.
Since Bitcoin is closely tied to all other cryptocurrencies, simply through its market dominance and leadership position, or through BTC trading pairs altcoins are bound to, one segment of the crypto market often pulls the other one along with it for the ride.
This is typically the case – when Bitcoin rallies, so do alts, and vice-versa. In a rare occurrence, starting with Bitcoin’s break above $4,200, the two highly correlated crypto assets began to diverge, with altcoins falling to new lows while Bitcoin went on to set new local highs relative to its USD value.
But now that tables have turned and crypto investors have become increasingly bullish on altcoins. Litecoin in particular has been called a “no brainer” by some analysts, while others have issued a clear signal that Litecoin is a buy compared to Bitcoin.

Ima all over $ltcbtc
— fil₿fil₿ (@filbfilb) June 7, 2019

Others, are telling crypto investors to be prepared for a “blast off” compared to what happened the last time Litecoin approached its halving.

This is what litecoin did 4 years ago before last halving…
be prepared for blast off #ltc #litecoin #bitcoin #btc #litecoinhalving @johnkim77 @cryptorecruitr @CryptoSavy1 @filbfilb @Josh_Rager @PeterLBrandt
— Master (@xtdisnkfe) June 7, 2019

It’s not just Litecoin causing crypto investors to become increasingly bullish on the crypto market as a whole. According to some crypto analysts, the altcoin market has been in the longest ever accumulation phase, which could be the perfect storm for the largest ever alt season.

Were now in one of the longest altcoin accumulation periods of all time
That means we could see the biggest altseason of all time soon
— Moon Overlord (@MoonOverlord) June 7, 2019

Due to all of these bullish factors, it’s easy to see why the crypto markets have started to surge once again. With Litecoin leading the charge, and the rest of the altcoin market potentially pushing Bitcoin higher, the crypto market hype train is starting to board once again.
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Source: New

Litecoin Surges as Halving Nears, Can it Hit $200 in 60 Days?

Crypto markets have continued with their consolidation, waiting for Bitcoin to make a move. There are very few crypto assets doing anything today, but Litecoin is one of them, lifted further as the halving approaches.
60 Days To Litecoin Halving
In the past few hours Litecoin has started to move upwards again. From $102 a few hours ago LTC surged to an intraday high of $113 marking a jump of almost 11 percent. Daily volume has climbed over $5 billion pushing market cap up to $7 billion.
Litecoin has recovered almost all of its losses over the past week whereas big brother Bitcoin is down almost 7 percent over the same period. Crypto trader going by the handle ‘CryptoFibonacci’ has been eyeing the LTC charts for some time predicting that it will continue to rise;
“Said last night that I liked the price action. I still like it. Expecting another retest of 122-124 area fairly soon, IMO.”

$LTC Daily Chart.
Said last night that I liked the price action. I still like it. Expecting another retest of 122-124 area fairly soon, IMO.#LTC
— CryptoFibonacci (@CryptoFib) June 7, 2019

The support zones can be clearly seen at the moving averages and the next resistance level is just over $120 as mentioned. With the current bullish momentum, further upsides for LTC are likely regardless of what Bitcoin does next.
There is little doubt that the Litecoin halving, which is only 60 days away now, is driving momentum. After this date the block reward halves from 25 to 12.5. This has the perceived effect of decreasing the supply while increasing the difficulty to mine new coins. Halving has been written into the code to control inflation and prolong network longevity. Current LTC inflation is 8.83% whereas after the halving it will drop to 4.26%. Halving events always have a bullish run up and the same is expected to occur for the Bitcoin halving in May 2020.
Additionally LTC hash rate is at an all-time high of 374T as is difficulty. This is a measure of computational horsepower on the network and number of miners supporting it, which also extremely bullish for demand and price.
$200 By August?
So far this year Litecoin has outperformed the majority of its brethren, surging 275 percent from $30 on January first. LTC has recovered all losses from the bear market and is back at the same price it was this time last year. The only difference now is that the trend is up so further gains are virtually guaranteed.
There is a strong possibility that Litecoin could reach $200 by halving date on August 6th. Considering it went parabolic in December 2017 pumping from $100 to over $360 in less than two weeks on pure fomo, a move from here to $200 does not appear that farfetched. At the time of writing Litecoin was trading at $113, boosted 10 percent during the Asian trading session. The next 60 days are going to see a lot of action on the Litecoin charts.
Image from Shutterstock
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Source: New

Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher?

Each halving in Bitcoin is typically front run by a bull cycle, where the price of the leading cryptocurrency by market cap experiences rapid volume expansion and price mark up. The digital silver to Bitcoin’s digital gold, Litecoin, also experiences such a phenomenon ahead of its halving – an event scheduled at regular intervals that reduces the block reward miners receive for validating the network.
With Litecoin’s halving in less than 70 days away, the market is watching the #5 ranked cryptocurrency to see if it once again carries the market higher. The last time Litecoin caused the entire crypto market to rally, it was the catalyst that helped put in Bitcoin’s bear market bottom and sparked a mini alt season. Will Litecoin once again spawn an all-out alt season and help Bitcoin’s parabolic move trend even higher?
Litecoin Breaks $100 Again, Confirms As Support, Off to the Races?
The crypto market is becoming increasingly bullish on Litecoin as the crypto asset nears closer and closer to its halving – an upcoming event in which the Litecoin supply is diminished. The halving, which will see the block reward miners receive cut in half, taking the reward from 25 LTC to just 12.5 LTC.
Related Reading | Will Litecoin (LTC) Rally to $1,000 After August 2019 Halving?
In the past, these halving events are typically front run as investors anticipate an offsetting of supply and demand that drives the price of these scarce, hard-capped, deflationary assets to skyrocket in short order.

Here comes the halving FOMO, c'mon my little chickun. $ltc time is here! #Litecoin
PS, if the market follows litecoin again we are in good shape!
— Shardi B, #CryptoSlut (@ShardiB2) May 24, 2019

Crypto analysts and traders who are watching Litecoin price charts are calling for the confirmation of cup and handle formations to play out, taking the price of the digital asset as much as 50% higher in anticipation of the upcoming halving.

we are good to buy on this spot OR NOT ?halving is realy near $ltc august 6 is the $ltc halving
— mocho17® (@cryptomocho) May 19, 2019

Today, Litecoin broke up above $100 once again, which it is now currently retesting to confirm as support.

I see $LTC just broke $100.
— Moon Overlord (@MoonOverlord) May 24, 2019

The bullish price action in Litecoin has been enough to lead the entire crypto market into a recovery following this week’s bleeding out across most trading pairs.

#Litecoin $LTC continues to lead the #crypto market, including #Bitcoin $BTC. Follow the #chikun.
— [₡ryptocasca] (@cryptocasca) May 24, 2019

Litecoin also helped to drag the price of Bitcoin higher with the #1 cryptocurrency by market cap reaching above $8,000 once again, but continuing to struggle with overhead resistance at $8,100.

#Litecoin about to single-handedly drag $BTC out of this price range to new highs $LTC $BTC $crypto
— Crypto₿anksy (@BanksyCrypto) May 24, 2019

While the #5 ranked cryptocurrency was able to help Bitcoin continue to climb higher, Litecoin itself has gained 10% against the BTC ratio on the LTC/BTC trading pair. Against USD the LTC pair is in a clear, valid uptrend.

$LTC #Coinbase#TAtip: General rule in TA, it takes two points to draw a trend-line, a third to confirm validity.
— Cow Jones (@CryptoCowJones) May 24, 2019

The reason behind Litecoin dominance increasing relative to Bitcoin, is due to the closer proximity of Litecoin’s halving, which is fueling the positive sentiment.

$LTC not going long into resistance but will be slowing starting to add to my bag as we head straight towards the next halving in roughly 75 days for #litecoin.
Wouldn't expect something crazy but likely price will follow speculation and hype as we get closer to 6th august 2019.
— TheCryptoCactus (@TheCryptoCactus) May 22, 2019

Those that are overly bullish on Litecoin have to look no further than previous halving to justify their positions. In the past, price rose rapidly ahead of each halving. There’s also a potential fractal playing out, according to some traders.

$LTC Imagine this fractal plays out… #crypto #altcoin
— [ FXD ] (@Liquidityhunt) May 20, 2019

Most analysts have targets for the altcoin somewhere upwards of $150 and higher. For the ratio, traders are targeting 0.02 or higher.
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Source: New

Litecoin [LTC] Halving Will Occur Before Bitcoin [BTC], Has Market Speculation Begun?

Halving is a phenomenon that is designed in the cryptocurrency algorithm, which reduces the rate of supply of the asset. Bitcoin will have a total amount of 21 million by the year 2142. Nevertheless, more than 17.7 million coins have already been mined, i.e., 84.3% of the total supply.
Litecoin has a similar protocol; the mining rewards for Litecoin is reduced every four years as well. Similar to Bitcoins, 73.7% of the Litecoin [LTC] has already been mined. However, the total supply of Litecoin is four times that bitcoin.
Litecoin [LTC] halving will occur on 7th August 2019. The prices of digital silver are expected to witness massive volatility in Q2 and Q3 of 2019.
History of Litecoin Price halving
During the previous halving event in 2015, the price, volatility in cryptocurrencies was massive. The rise in Litecoin [LTC] was more than five times before the month of the halving event in 2015. However, the market characteristics were different than they are now.
Nevertheless, the charts indicate that Litecoin has risen about 65 times from $1.5 to $98 from May 2015 to May 2019.
LTC/USD Price during Q2 and Q3 of 2015 (CoinMarketCap)
Price Analysis
Litecoin [LTC] has tripled its value since the beginning of the year. The yearly high and low of Litecoin price is $106 and $30 respectively. It is currently, testing the higher resistance level on the yearly. The price of Litecoin [LTC] at 14: 00 hours UTC on 22nd May is $100.
Since the mining is fairly profitable now and the number of Litecoins is four times greater than Bitcoin [BTC], not much adverse effect is expected on the supply of the coin post halving.
LTC/USD 1-Day Chart on Coinbase (TradingView)
According to the ascending triangle pattern, we can see an upside between $125 to $150. Moreover, the market sentiments are bullish towards cryptocurrencies, especially Bitcoin [BTC]. The MACD has, however, reached an inflection point, hence reversal is on the cards as well. The RSI on the daily is in the neutral zone at 60.
On the weekly, the MACD is diverging, signaling the continuation of bullish momentum. However, the RSI is moving towards the over-bought region. The price is trading above the moving averages a well, which is bullish. While the Technical analysis points towards uncertainty, market indicators and fundaments are expected to lead the market.
A strong correlation has also been witnessed between Bitcoin and altcoin prices. Bitcoin [BTC] price movements will be closely watched by the Litecoin traders as well.
Do you think bull run on Litecoin [LTC] is on the horizon or Bitcoin [BTC] will drive the prices? Please share your analysis with us. 
The post Litecoin [LTC] Halving Will Occur Before Bitcoin [BTC], Has Market Speculation Begun? appeared first on Coingape.
Source: CoinGape

Litecoin [LTC] transaction fees fall by a factor of 10 after the launch of Litecoin Core v0.17.1

Litecoin [LTC] has been creating headlines for being one of the best performing altcoins in 2019. While the community has praised the comeback of the “bitcoin spinoff,” LTC made headlines again after the launch of Litecoin Core v0.17.1. A blog post highlighted that the update was focused on “user interface changes, a new wallet format, extended privacy features, and a significant network fee policy change.”
The new network fee policy is focused on reducing the minimum transaction cost by a factor of 10, reducing the transaction cost from 0.001 LTC/kb to 0.0001 LTC/kb. While Charlie Lee’s coin hasn’t been able to dominate the market, several experts have speculated that this development will allow LTC to capture a greater market share, as well as go on a wider adoption spree. Litecoin thus expects traders to be more willing to invest in LTC, especially when compared to bitcoin forks like Bitcoin Cash [BCH] and Bitcoin SV [BSV].
Adrian Gallagher, a prominent Litecoin Core developer, supported the decision by saying,
“The rationale was that the team and I decided that we wanted to make transaction fees cheaper for everyday use. Miners will still earn coins from the block reward, despite a reduction in the fees they collect. There always needs to be a balancing of fees, otherwise the network is at risk of getting spammed. At the same time, we also want to make it cheap enough so users don’t pay anything excessive for regular transactions or for participation in the Lightning Network. We hope to spur more adoption as time goes by.”
Further, the LTC ecosystem is also anticipating a halving in August 2019, a halving which will decrease the mining reward from 25 to 12.5 coins. The halving is expected to increase the coin’s trading value.
The post Litecoin [LTC] transaction fees fall by a factor of 10 after the launch of Litecoin Core v0.17.1 appeared first on AMBCrypto.
Source: AMB Crypto

What Happens When Litecoin Mining Block Rewards Halves in August 2019?

Litecoin was one of the earliest spinoffs of Bitcoin which came into existence in October 2011 and since then the coin has stayed pretty identical to Bitcoin. Just like the Bitcoin, Litecoin too would be undergoing the mining reward halving process in August 2019 and every stakeholder needs to be prepared for the event as to what could be the probable consequences. Binance Research explains
Litecoin’s block profitability will be cut in half in the span of 5 minutes
In crypto world, halving is a fixed event when the block rewards cut into half and the profitability from a block is reduced to 50%. For Litecoin, its chain’s block rewards for mining are perpetually reduced by one half every 840,000 blocks. With the way, the current block generation time is set to ~2.5 minutes this event is occurring is scheduled to happen every four years. Litecoin’s current block reward is set at 25 litecoin per block and will subsequently decrease to 12.5 litecoin per block around August 6th (at exactly block 1,680,000)
Litecoin has had just one block halving in August  2015 when the price of the coin  increased from around 1.5 USD (3 months before halving) to over 3 USD post-halving, with a peak of 7 USD  in mid-July 2015 while the hashrate dropped by roughly 15% around the event, before quickly rebounding in the two weeks following the halving.
While the past is behind us there are four possible “watch outs” for Litecoin block halving this time. These include

Price Rallies Before Stabilizing at a new high: The price of Litecoin has already started rallying since the beginning of the year, exhibiting a 200% year-to-date return, while the broader market is up by 40% YTD
Hashrate Increases Before The Halving: This too has already happened. As the rewards will be halved, more miners may decide to start mining Litecoin (instead of other currencies) as they want to mine as much litecoins as possible short-term in anticipation of the future decrease in mining rewards
Mining Profitability Adjust as Miners Exit the Market: If some miners were to leave the market and/or switch over to mining other, more profitable coins, the hash rate would decrease. As a result, this reduced competition would help compensate for the loss of profitability due to the absolute block reward reduction.
Permanent Drop in Mining Profitability: If Litecoin’s post-90-day price post-halving would be near its historical long-term median, all other things being equal, it would result in lower profitability for all Litecoin miners

While there could be many possibilities depending on how the coin is placed closer to the halving date. However, rational miners would still consider the marginal profitability and opportunity costs of mining each PoW cryptocurrency over the same time periods to decide whether or not it is more profitable to mine Litecoin or other cryptocurrencies. While the event is important for every Litecoin stakeholder, with no much history in place it becomes difficult to predict what would actually happen.
What do you think would be the possible outcome of Litecoin halving? Do let us know your views on the same.
The post What Happens When Litecoin Mining Block Rewards Halves in August 2019? appeared first on Coingape.
Source: CoinGape

How Bitcoin Could Reach $150,000 in The Next Cycle Peak

All markets move in cycles, and crypto is no exception. The only major difference is that cycles in this market have been more compressed since Bitcoin is just ten years old. There have been three major cycle peaks so far over the past decade and analysts have been using them to predict the next one.
$150,000 BTC by July 2023
The first cycle took 329 days to peak and occurred in 2011 when Bitcoin prices hit a high of just below $32. A bear market followed until the next peak which came in 2014 with BTC prices topping out at around $1,180.
Then came the big downturn of 2014 – 2015 when Bitcoin lost over 80%, as it has done again this time, falling to below $200. The upswing took over 20 months to initiate and began in late 2015 leading to the previous peak of just below $20,000 in the third cycle peak of late 2017.
Crypto analyst Josh Rager has observed these cyclical patterns and concluded that each cycle has had exactly 574 days added to it in order to reach the next peak. Using this figure he has made an attempt at predicting the next peak.

The next Bitcoin cycle should peak out in July 2023 and could reach a price at $150,000 or more per Bitcoin
Cycle Peak Prices:2011: $312014: $1,1772017: $19,7642023: ??? ($150,000+ projected)
— Josh Rager (@Josh_Rager) March 31, 2019

A 574 day addition to the current cycle would put the next Bitcoin peak in mid-2023, 2051 days after the previous one. The price estimate at this peak is around $150,000 which is not entirely implausible looking at the chart patterns.
Bitcoin Halving to Initiate Trend Reversal
This estimation falls in line with other predictions that align a major trend reversal and the end of the crypto winter with Bitcoin’s halving in May next year. The decrease in block reward and supply could compress these cycles with some claiming that a new all-time high will come in 2021.
Either way, the prediction is bullish in the long term but spells more gloom and sideways trading for the rest of 2019. Institutional investors are looking long term though and some, such as New York’s Greyscale Investments, have researched halving events to identify entry points.
Two previous halving events in 2012 and 2016 have been followed by large upside momentum and it is expected that the 2020 one will have the same effect. This could quite plausibly tie in with the cycle peak prediction and create a massive bull run for Bitcoin and crypto markets during 2021 and 2022.
At the moment Bitcoin is still struggling to overcome its four month resistance barrier at $4,200. BTC has hit this level a couple of times recently but instantly bounced off it. Over the past week it has hovered around the $4,100 range but still cannot muster enough bullish momentum to take it further just yet. The longer term outlook does look very rosy though so now would be the best time to accumulate and hodl and unspent transaction output (UTXO) levels seem to indicate that this is already happening.
Image from Shutterstock
The post How Bitcoin Could Reach $150,000 in The Next Cycle Peak appeared first on NewsBTC.
Source: New

Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever

Bitcoin and its meteoric rise to $20,000 in December 2017 caught the attention of major mainstream media and the public eye, as early investors in the crypto asset shared stories of insane profits generated by the new and misunderstood technology. But the parabolic advance during 2017 pales in comparison to Bitcoin’s 200,000,000% increase in a matter of nine years.
That rise, says one economist, is the greatest and fastest rise ever witnessed in any asset type, and it could be due to one specific design aspect built into Bitcoin’s code.
Economist: Nothing Has Ever Risen As Fast and As Much As Bitcoin Has Risen
Beirut-based academic economist Dr. Saifedean Ammous is the author of the book The Bitcoin Standard. In his research, he spends a great deal of time focusing on the first-ever cryptocurrency as was designed by the mysterious Satoshi Nakamoto over a decade ago.
Related Reading | Bitcoin Price Chart Shows How Surpassing Gold’s Market Cap Is “Easily” Feasible
Since Bitcoin was released into the wild, it’s been on a journey from virtually worthless, to someday becoming – potentially – the native global currency for the internet. Along the way, the leading crypto by market cap has been called a bubble a number of times, as analysts warned of a looming bubble pop that’d leave investors scorned. But after each bubble pops, BTC continues along its path to success.

Bitcoin is not only incomparable to bubbles, its fast rise is also incomparable to the most successful companies and innovators. As far as I can tell, nothing has ever risen as fast and as much as Bitcoin has risen.
— Saifedean Ammous (@saifedean) March 24, 2019

This path, says Dr. Ammous, is the fastest and largest rise of an asset ever witnessed, even when comparing investing just $100 in BTC against the likes of Apple, Microsoft, General Electric or Google parent company Alphabet.
“Bitcoin is a completely new animal, different from all before it,” he explained. “Your old toolbox for analyzing bubbles, currencies, and stocks doesn’t work on it.”
Halving Makes Bitcoin an Asset Designed to Rise Fast
The reason behind Bitcoin’s ability to rise further and faster than any other monetary asset before it? Dr. Ammous attributes the asset’s unique ability to generate gains to the mining difficulty adjustment that occurs every several years.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term 
When Satoshi Nakamoto designed Bitcoin, a proof of work consensus was added to verify each new block being added to the blockchain. Miners are rewarded with a set amount of BTC for securing the network and validating transactions. These rewards, however, are reduced every few years at each Bitcoin “halving.”

Bitcoin is a completely new animal, different from all before it. Your old toolbox for analyzing bubbles, currencies, and stocks doesn't work on it. My explanation for this rise is that bitcoin's difficulty adjustment makes it a truly unique monetary asset built to rise fast.
— Saifedean Ammous (@saifedean) March 24, 2019

Each halving reduces the amount of BTC miners receive, therefore throwing off the balance of supply and demand. With less supply being rewarded to miners, there is less selling pressure on the market which can cause the asset to rise quickly in price. Traders have also began to take notice of this behavior, which further adds fuel to the rocket as they begin accumulating the cryptocurrency at around 18-months out from the next halving.
The next Bitcoin halving date is currently set for around May 23, 2020, which would suggest Bitcoin’s accumulation phase has begun, and the asset could increase to potentially “millions” in the future.
The post Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever appeared first on NewsBTC.
Source: New

What Caused Litecoin to Surge Over 30% and Flip BCH and EOS?

Litecoin has long been a stalwart of the crypto sphere. It has been around since 2011 when it forked from the original Bitcoin chain. Alongside its big brother it has steadily grown as a faster and ‘lighter’ alternative. Over the past 24 hours however Litecoin has literally lifted off with a 30% surge propelling it up the crypto market cap charts.
New Partnership to Enhance Litecoin
The entire crypto market has enjoyed a rare pump overnight as $10 billion poured back into digital assets following a week of losses. That is not to say that the bear market is over, far from it as we have seen this action before and the bears may soon regain control. Technical indicators are still signaling further losses for Bitcoin and its brethren over the coming months.
The top performing altcoin during this crypto bounce has been Litecoin. The solid performance is fundamental as software company Beam recently announced a partnership with the Litecoin Foundation. The collaboration will explore the use of Litecoin’s Mimblewimble protocol which derives its name from the Harry Potter series. It is a spell that prevents people spilling secrets so was aptly named as its purpose for crypto is to improve privacy, scalability and fungibility. The Beam medium post added;
“We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality,”
A hard fork would be required if Litecoin was to adopt the protocol which allows users to encrypt transaction data. The fungibility aspect would allow equivalent tokens to be interchangeable with no losses. Charlie Lee posted this tweet last month on the need for such;

Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy.
I am now focused on making Litecoin more fungible by adding Confidential Transactions.
— Charlie Lee [LTC] (@SatoshiLite) January 28, 2019

Market Reaction
Litecoin’s performance over the past 24 hours has been impressive. It jumped from an intraday low of just over $33 to a high a touch below $44 which results in a 33% surge on the day. Since then LTC has pulled back a little to trade at $42.30 where it is currently holding at the time of writing.
Daily volume surged from $635 million to $1.7 billion which pumped over $500 million into the LTC market cap. This enabled Litecoin to surge up the charts and flip both Bitcoin Cash and EOS to take fourth spot with a current market cap of $2.6 billion. So far this year Litecoin has been one of the top performing cryptocurrencies along with Tron and Binance Coin.
Litecoin is also due for a halving this year on August 8 which reduces the block reward from 25 to 12.5 LTC. Halving events are usually very bullish for crypto assets as they become less inflationary while value goes up.
Image from Shutterstock
The post What Caused Litecoin to Surge Over 30% and Flip BCH and EOS? appeared first on NewsBTC.
Source: New