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Litecoin News

LTC Price Sees 18% Surge As Halving Process Approaches

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LTC Price analysis

LTC price analysis shows us that the asset managed to increase by 18% and a total market capitalization of $250 billion was achieved yet again as the other altcoins are starting to fire up as well. In today’s altcoin news we will see what is making the price go up.

The crypto correction that passed the other week made Bitcoin drop even lower than the $7,500 price point. This, however, increased the general momentum for all the other altcoins and today’s best performer by a very clear margin is Litecoin which managed to increase 18 on the day.

The only cryptocurrency that managed to make double digits gains at the time is litecoin as it pumps further. The LTC price standing at $100.65, this time yesterday was standing at $88 but in a few hours started to move up topping the $105 price point. The daily volume increased from $3.2 billion to $6 billion pushing the entire litecoin market cap to reach $6.4 billion.

Litecoin has been around on the market since 2011 as noted in the best cryptocurrency news sites and survived many of the harsh bear conditions. This year, however, the LTC price analysis shows that the asset made an increase of about 240 percent outperforming all of the major assets including the leader of cryptocurrencies- Bitcoin. Currently, Litecoin is trading at a new 2019 high which is the highest level since June 2018.

The current momentum might be coming from the halving event which will take place on August 6, under 75 days. The block mining reward halves every 840,000 blocks so this one will see a decrease from 25 to 12.5 coins. This will also increase the scarcity but decrease inflation so Litecoin will become more valuable.

Bull runs usually happen before halving events and this next one could send the LTC price even higher. Crypto trader ‘’Crypto Cactus’’ stated that this asset will continue to trade higher as the halving approaches:

‘’$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.’’

The next few days will be critical for Litecoin since $100 is a key resistance level and the price did pull back slightly.

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Altcoin News

Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)

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Hottest Cryptocurrency
The coming altcoin news show that there is one great performing cryptocurrency this year, and it is not Bitcoin. Despite BTC reaching a 13-month high today, the hottest cryptocurrency in terms of annual gains remains Litecoin (LTC) which is up by more than threefold. Gaining 330% since the beginning of the year, Litecoin is outpacing all of its crypto peers including Ether and XRP - and the best known and largest cryptocurrency Bitcoin. Currently, LTC has a market cap of about $8.4 billion which makes it the seventh largest digital asset as data from Mosaic Research Ltd. shows. The latest cryptocurrency news show that Litecoin is recording new surges, trading at $135.72 at press time. The rally can be attributed to Litecoin's upcoming halving event (known as halvening) where the number of the coins awarded to the miners is slashed in half. The simple idea is that a cut in supply can drive the price up but also prevent an erosion of value. Right now, miners receive 25 new Litecoins per block but after the halving - they will receive 12.5. The 'halvening' event for the hottest cryptocurrency is scheduled for August 6th. Typically, it happens roughly every four years and the run up that it has was associated with lots of rallies in the underlying tokens.
“Every time we’ve seen a halving event in Bitcoin or Litecoin, the price has risen astronomically,” is what Mati Greenspan believes, who is a senior market analyst at the trading platform eToro. “So if that pattern continues, what we’ve seen so far is small potatoes in comparison,” he said. “This is quite normal for the crypto market.”
Right now, cryptocurrencies are undergoing a major renaissance. While Litecoin is reported as the hottest cryptocurrency this year by many best cryptocurrency news sites, Bitcoin is also triggering a new rally and Facebook with its expected crypto project is additionally fueling up the space. All of the developments happening this year have managed to push the price of Bitcoin by 120% since the beginning of the year - and the price of Ether close to 100% this year. Litecoin remains the hottest cryptocurrency - going from $30 at the end of last year to $130 right now.
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Litecoin News

Litecoin’s Price Goes Above $125, The Highest For The Year

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Litecoins Price
Litecoin’s price reached the highest level in over a year starting this week reaching the price point of $126 with a 10 percent gain on a 24-hour basis. Let’s look more into the altcoin news analysis today. The fourth largest cryptocurrency per market cap reached up to $128 at 12:00 UTC on Coinbase which is the highest level since May 2018 when it was seen trading at about $124. Notably, the recent price spike suggests that litecoin’s price is leading the wider market much higher. The cryptocurrency is now up by more than 30 percent from the low of $87 that was seen on June 4. In the meantime, Bitcoin as the world’s leading cryptocurrency by market cap gained another 7 percent during the same time. Litecoin’s great performance could be associated with the mining reward halving event that is due in less than 60 days. This summer, on August 8, the mining reward on the litecoin blockchain will be halved from 25 coins to 12.5 for each block. This major altcoin rallied more than 500 percent in a period of three months before the previous reward halving which happened in 2015 on August 25. Litecoin’s price increased from about $1.5 in 2015 which later hit a new high of $7.00 in July 2015 before dropping back to $3.00 after the halving even according to the historical data. If this data is to be followed, litecoin will still rise over the next few weeks before receiving a profit of the August 6 event. It is also important to understand that as we mentioned in the latest cryptocurrency news, Litecoin’s non-price metrics are seeing some solid growth as well. The hash rate reached a new high of more than 400 trillion hashes per second. The major moving averages are in favor of the bulls since the 50-day MA is located above the 100-day MA. Further, the relative strength index (RSI) is pushing higher than the consolidation showing a prolonged rally from the low price at $66 seen at the end of April this year. It looks like Litecoin will set the new resistance level of $150 in the short-term. The rally to this price point might not happen, only if Bitcoin plunges strongly and takes the entire market with it.
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Litecoin News

Litecoin To Double In Coming Months: Crypto Analyst

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litecoin to double
The new situation on the crypto markets following the correction marks some levels of instability, as the coming altcoin news show. One analyst is now in the focus for claiming that there is a possibility for Litecoin to double and trade to new highs in the near term. The analyst believes that the Litecoin price may soon double before it incurs significant selling pressure which may send it reeling lower - and the cryptocurrency's upcoming "halvening" event may be the source of this massive volatility. Currently as we are writing, the altcoin news show that Litecoin is trading down by roughly 1% at a current price of $116 which is down slightly from its daily highs of $120. Right now, $120 remains a key resistance for the altcoin. Many analysts in fact expect Litecoin to double. However, the cryptocurrency tried that and failed on multiple occasions over the past couple of days, trying to break above the price level which is currently its year-to-date high. Even though it remains unclear as to whether or not the Litecoin crypto will be able to surge past the $120 price level with ease - or it will drop lower first - there is a high probability for Litecoin to double and incur volatility in the near future due to the "halvening" event. According to Luke Martin who is a popular cryptocurrency analyst on Twitter, LTC could trade significantly higher in the next couple of months as this event nears.
“I was sleeping on the $LTC halvening being only 60 days away now. Price is up 5% today breaking out of consolidation. I think it could go higher than the most recent .0182 swing high,” he explained.
https://twitter.com/VentureCoinist/status/1136766591637626883 The halvening is also expected to send LTC's price skyrocketing higher. As Martin sees it, LTC's Bitcoin trading pair could climb as high as 0.0182 which us up from its current price of 0.0146 and other analysts believe that it could surge much higher. Another altcoin analyst was in the latest cryptocurrency news. Named Financial Survivalism, the analyst explained that LTC is posed for a surge up to new highs, stating:
“$LTCBTC peaked days after $LTC halved in 2015. It proceed to selloff leading up to and following the $BTC halving. I think we will see similar price action in 19-20. If so then #LTCBTC would return to the top of the channel over the next couple months before retesting ~0.011.”
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Litecoin News

Litecoin (LTC) Halving Excitement Spikes The Price By 18%

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Litecoin (LTC) halving
Litecoin (LTC) halving event is approaching and with it, the excitement grows leading the price of the asset to soar by 18 percent this week only. The fundamentals show that the price could go even higher and we read more on the analysis in the coming altcoin news below. The LTC-to-Dollar rate today established an intraday high of about $114 and it later took its 24-hour adjusted gains to 8.60 percent which is the highest climb out of all cryptocurrencies on Friday. The move also helped the altcoin to erase the losses during the last week downside trend and at the same time, the largest cryptocurrency Bitcoin still managed to recover by 7 percent and to compensate the similar losses. The biggest difference between Litecoin and Bitcoin is that the investors and traders are now interested in holding the first one. This is because of the Litecoin (LTC) halving event which is expected to reduce the supply rate of the altcoin to 12.5 LTC. Investors are looking at this event as a bullish one but are still taking cues from the textbook supply-demand theory. They also believe that the reduced supply in LTC against an appreciation in demand will make the asset more valuable. As a result, LTC could become a more profitable asset than other top coins in the near term. The sentiment could also be seen further across the Litecoin blockchain. For example, Binance research reported that the altcoin had a hashrate increase of more than 150 percent in the last six months and the mining profitability is up by 125 percent. During the same time, LTC increased by more than 380 percent against the US dollar. LTC still needs to prove that there will be a higher demand. The founder of the asset Charlie Lee announced back in February that they would likely offer increased privacy with the new Mimblewimble update. The announcement helped LTC increase in far but unless the update kicks in soon, every upside action will only be left for speculation. As reported in the best cryptocurrency news sites and analysis, the Fibonacci retracement graph sketched from the price point of $182 to a low of $22 provides a good idea of how the LTC price will play out in the near future. Traders are also willing to break above $121 in order to open a long shot towards the $148 price level.
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