Litecoin price gains laying the blueprint for what is to come for Bitcoin?

in litecoin •  4 days ago 

Blueprint all laid out?

Litecoin has been surging as of late, likely due to its impending halving, is it showing us what bitcoin will probably do?

In short, I am thinking yes.

Litecoin has been the best performing cryptocurrency over the past several months.

It is the far and away leader of the major coins yet again today, currently up some 10%.

Bitcoin has had a great year, up over 2X from its lows, however, litecoin puts those numbers to shame...

After hitting a low of around $22, prices are currently up near $140. That is a gain of over 6X!

It's up almost 3X as much as bitcoin.

(Source: https://www.ccn.com/litecoin-price-soars-18-halving-higher)

Why is it up so much?

Most likely it is up due to its impending halving event.

It is currently slotted to happen on August 6th, 2019.

https://www.litecoinblockhalf.com/

The halving will drop the block rewards from 25 to 12.5 coins per block.

This reduction of new emissions has often been seen as a majorly bullish catalyst throughout the past several years.

Will it do the same for bitcoin?

We will have to wait and find out, but historically bitcoin has traded very well both a year before and a year after its block reward halving...

The next one is set to take place in May of 2020, roughly 11 months from now.

Which means we have just begun to trade in that historical sweet spot.

Stay informed my friends.

-Doc

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I was sure litecoin is already dead

Posted using Partiko Android

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You and me both a few months ago.

Wishing so much that I had of bought more when it was at $70

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May still be a good time if prices are going north of $200... IF

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Agree. And thats what I did this morning.

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Looking for $200 LC around the halving, so still room to make some good money quickly,. Will sell at least half at that point, hang on with the rest in case it goes stupid up before the end of the year.

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Nicely done!

Very interesting 🧐

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Thanks.

  ·  4 days ago (edited)

Exactly, I have been watching Litecoin closely for the last 4 month's and especially when bitcoin is trading sideways, Litecoin is making the difference.

I was planning to make a post about that, but you were faster 😜

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That's ok, make one anyways!

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Yeah, I think I will 😊

Posted using Partiko iOS

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Good deal.