Litecoin has managed to add 16.5% in the past 24 hours as the coming altcoin news show. This is a new Litecoin 2019 high which comes as no surprise following the halving event which will occur in August this year.
Right now, Litecoin is one of the top performers in the top 10, recording a lot of increases daily and expecting more gains as the analysts predicted. Despite the brutal 2018 which swamped the market with minuses, the Litecoin 2019 high showed that the “crypto winter” is over and that this altcoin is rallying which is a blessing for many traders and investors that managed to withstand the terrible losses over the past couple of months.
Behind the Litecoin 2019 high, there is a number of technical and fundamental factors which say a lot about this altcoin. As the latest cryptocurrency news show, Litecoin’s correlation with Bitcoin is one of the reasons Bitcoin close higher. However, the optimism has a lot to do with the halving event (scheduled for August 19th, 2019) where the supply-demand dynamics will kick in fairly valuing this asset.
The miner rewards will also be slashed from 25 LTC to 12.5 LTC, which is another positive indicator in the altcoin news which may spike the price of Litecoin – even to a new Litecoin 2019 high in the coming days and/or weeks.
At the time of press, LTC is up by 16.5% and 23% in the last day and week, which is very impressive. At the moment, the foundation of the next wave of higher highs could see LTC spike as buyers flow ahead of halving. The daily charts show that the Litecoin 2019 high is not only trading with a bullish breakout after clearing $110 – but after bouncing off the 78.6% Fibonacci retracement level, it is at new 2019 highs.
This has led the Litecoin prices to go above the Q2 2018 losses, showing a mark of demand. So, even though the breakout bar was at the back of low trading volumes and Litecoin has minimally corrected, the LTC high shows massive buying opportunity with a first price target set at $120 and later $180 as many best cryptocurrency news sites predict.
Since bulls are in charge of LTC now, it is vital that the price of this altcoin closes higher in the upcoming days.
Litecoin (LTC) Value Rebounds As The Halving Event Is Pending
Litecoin Adoption: LTC Adopted On Flexa, Spendable In 39,000 Stores
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”Litecoin can now be spent but also converted to fiat via Flexa's SPEDN application which is currently live on Apple's iOS and in testing phase on Android. This comes shortly after the Litecoin Foundation (organization behind the cryptocurrency's development and adoption) joined hands with two industry partners including Bibox Exchange and Ternio, releasing a debit card that can be "loaded" with LTC, Bibox Token and Ternio Token.
Crypto Startup Flexa Adopts Litecoin-Now Available At 39,250 Stores
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”Litecoin can now be spent and converted to Fiat with the help of Flexa’s SPEDN application which is currently live on Apple iOS. The decision comes shortly after the Litecoin Foundation joined the two crypto industry partners Bibox Exchange and Ternio in order to release a debit card that can be filled with LTC. As noted in the previous latest cryptocurrency news, the Video game streaming service Twitch also started accepting subscription payments via BitPay which gives its viewers a chance to contribute to their favorite gamers with cryptocurrencies. This could be great news for litecoin but for other assets as well regarding the boost in price in the upcoming months.
Litecoin (LTC) Price Goes Up By 13% Reaching $8.18BLN In Market Cap
‘’I’m still waiting for the weekly close but if it does close anywhere above the green box/line I’ll long targeting new highs.”The latest cryptocurrency news reported that the LTC supply reduction could affect the reward that is mainly used by the miners. This could also cause a drop in the Litecoin’s blockchain hashrate since the miners start allocating the computational power to more profitable cryptocurrencies. However, Charlie Lee begs to differ. He believes that the LTC miners would still be profitable despite the rewards reduction:
“If some miners stop mining, block times go up for a while (maybe a week) before difficulty readjusts and makes mining profitable again and miners will come back. Litecoin won’t die.”
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