Litecoin Price Prediction: 2020 Bull Run Despite Current Bearish Price
By CryptoZink.io on Altcoin Academy
Litecoin Price Prediction & Assessment (November 16, 2019): With a number of crypto holders pulling money out from altcoins to invest in Bitcoin due to the upcoming BTC halving, Litecoin (LTC) finds itself victim of massive periodical sell-off.
Despite that, many analysts, including us at CryptoZink, are still bullish on Litecoin (LTC). In fact, we believe there is a bull run on the horizon. An upwards momentum is anticipated soon. The run is expected to happen against LTC’s Bitcoin trading pair.
What is Litecoin (LTC)’s Price Prediction & by when?
Litecoin (LTC) is trading at $57.78 (-1.90%), at the time of this writing. LTC’s trading highs were $63.9 on November 6. Bitcoin’s activities influence all altcoins; particularly Litecoin, which is one of BTC’s most popular competitors.
The days following Bitcoin halving, which is expected in 180 days from today (May 13, 2020), a massive sell-off is expected. That’s when we expect LTC-BTC’s pair to start gaining serious upwards momentum.
A number of Altcoins will benefit, but Litecoin is best positioned to gain the most. LTC’s bullish trading could last for several months.
We’re not the only one writing about a bullish Litecoin price prediction in 2020. The Crypto Dog, a crypto influencer and analyst tweeted earlier this month about Litecoin’s imminent growth.
I haven’t looked at the $LTC chart in months, just opened to this.
Wow. pic.twitter.com/jiwtq03h7m
- The Crypto Dog📈 (@TheCryptoDog) November 8, 2019
Another well-known crypto analyst who goes by the handle, DonAlt tweeted a similar assessment of Litecoin (LTC). He is too is bullish on the coin telling his 123,000+ followers LTC is better positioned than BTC and any other altcoins for a short-term run.
“$LTC: While the world is panicking looking at BTC the altcoins are looking better and better. ‘But what if BTC moves and [messes] it up?’ Well tough luck, that’s why we’ve got risk limits. There is no money in covering in fear at support,”
By how much will LTC’s Bitcoin Trading Pair skyrocketed?
It’s important to understand that a greater number of altcoins are in the green (+) when Bitcoin is on the downside.
Because a massive Bitcoin dump is imminent after, embattled altcoins such as Litecoin (LTC) is well-positioned to gain. How much LTC stands to gain? That’s something we will have to wait and see.
Originally published at https://www.cryptozink.io on November 16, 2019.
