A new podcast is in the latest cryptocurrency news, focusing on a potential Litecoin rally which was first brought up by the founder of the cryptocurrency, Charlie Lee. As Lee said, Litecoin has the potential to surge even above $1,000 and the altcoin has proved that with its triple-digit surges this year.
Currently, Litecoin (LTC) is up by more than 6.1% weekly. Year to date, Litcoin and Binance Coin (BNB) are perhaps the two top performing assets with triple-digit gains. A Litecoin rally is very possible because of that – and Charlie Lee has lighted up the scene with a new prediction.
As he said while making big news in the altcoin news section, the altcoin loss in 2018 has nothing to do with the fact that Litecoin is big right now. A sneak peek of the episode was also posted on Twitter by Anthony Pompliano, who hosted the podcast.
New episode is live w/ @SatoshiLite!
We discuss the early days of Coinbase, why he originally built Litecoin, how crypto evolved over the last decade, what the current challenges are, and where Charlie sees BTC & LTC going in the future.
Listen & learn!https://t.co/JcpLe8SXZi
— Pomp 🌪 (@APompliano) May 1, 2019
For a Litecoin rally this big to occur, the recovery must begin. Fortunately, leading in the new market recovery is Litecoin. Despite the optimistic prediction that LTC could visit $1,000 soon, Charlie Lee did not mention the hash rate that is improving by the day.
From a technical point of view, Litecoin (LTC) is a leader in the coming altcoin news along with Ethereum. The resurgence is linked with the Bitcoin prices bottoming up and establishing a positive correlation. However, it is the early August halving that is right now drawing demand for the asset while investors expect a Litecoin rally.
Price-wise, Litcoin is solid and it seems like bulls are in charge as long as the prices are trending above $50. Since buyers are in control, traders can load up in dips with first targets at $100 which is a resistance level that marks the April highs. A Litecoin rally from this situation is very possible, knowing that we are seeing a bull reversal from April and a solid Fibonacci retracement level of 78.6%/
From all of this, the bull bar is obvious and a LTC rally may come in next. Litecoin is now at $74 in a 3% correction. The best cryptocurrency news sites show that while a $1,000 price prediction is definitely something out of the blue, the cryptocurrency has gained a lot this year.
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“I got some of my Lealana 25LTC & 10LTC coins graded by ICG. The labels of these coins are signed by me. There are a total of 5x 25LTC coins and 8x 10LTC coins. I have no plans to do any more of these. The 10LTC are the first issue ones with the bump in the back behind the hologram.”A ‘’BTC enthusiast’’ on Twitter, explained that he purchased one of the Lealana Litecoin collectibles at the Magical Crypto Conference in New York. He tweeted:
“It’s loaded with 10 LTC. There is a private key concealed with a tamper-proof hologram on the obverse of the coin.”Lee had the coins pre-assessed by the Independent Coin Grader which rates the coins based on the features. Similar to the altcoin, Lee only signed a set amount of coins which of course, bolsters their value. Litecoin, for example, has a finite supply of 84 million coins while Bitcoin has 21 million. Bidding for the litecoin collectibles starts at 0.1 LTC and Lee says he will also accept BTC payments. The auction will end on May 15. Lee has been trying to remind the crypto market that he sold his Litecoin portfolio during the peak price when a coin was worth $300. Now that the portfolio is empty, he moved to the litecoin collectibles. However, as noted in the latest cryptocurrency news, some users are now agreeing with his idea:
“I am sorry but I think this auction is in poor taste. The guy made millions and had 1000’s and 1000’s of litecoins and sold them all at $300 and he has the audacity to sell these coins for his own profit? Donate the proceeds or something. I’m sorry, I don’t mean to be rude but this just doesn’t sit right with me.”
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