Will Litecoin recover? This is one question members of the cryptocurrency community have been asking for the past 14 months. Many people had concluded that the answer to the question; will Litecoin recover is no. This was until December 2018 when the price of Litecoin started recovering steadily against the USD. The Litecoin price prediction 2019 became positive and LTC has gained almost 160% of its mid-December value. In today’s Litecoin forecast, analysts have suggested that the recent Litecoin price surge above $60 is going to drag the price of LTC up.
Litecoin Price Prediction 2019: Will Litecoin Recover With Bitcoin?
One of the reasons why the Litecoin price prediction 2019 has become positive is the upcoming Litecoin halving. According to history, cryptocurrencies typically trade higher in the months before a halving event. This is why the Bitcoin price forecast ahead of the 2020 Bitcoin halving has been positive. For Litecoin, this price rally is just the beginning. One cryptocurrency analyst, Moon Overload, has suggested that Litecoin will move as high as $350 thanks to this halving event. In his words;
Litecoin (LTC) Price Today – LTC / USD
“The Litecoin halving is quickly approaching… the crypto bottomed approximately 200 days before it’s halving in 2015… We are almost exactly 200 days away from the next LTC halving… LTC peaked 2+ years after its halving If it follows a similar path this time the peak will be in 2021.”
How will the LTC price recovery lead to a spike in the price of BTC? Another cryptocurrency analyst, Halo Crypto, suggested that the LTC price move above $60 is going to be a catalyst for a surge in the price of BTC. He noted the clear similarities in the price action of BTC and LTC. He said that there is a high chance that BTC is preparing for a bullish reversal. In his words;
“If you truly believe #Litecoin leads #Bitcoin in market moves, you must be ultra bullish on BTC$LTC on top of half, $BTC on the lower half.”
Bitcoin (BTC) Price Today – BTC / USD
Over time, Bitcoin and Litecoin have moved in this circle. At first, the price of BTC falls, this is followed by an LTC bull run and quickly followed by a BTC bull run. The analyst is suggesting that this price hike of LTC is going to take BTC up too. If BTC goes up, well, the entire market will be forced to recover.
Litecoin Price Prediction 2019: Litecoin And Bitcoin Price Today
At the time of writing, LTC was trading at $60.56. This shows that it is down by 0.23% against the USD and down by 0.40% against BTC. The 24 hour trading volume is $2,022,378,174 and the market capitalization is $3,696,499,169.
Bitcoin, on the other hand, is trading at $4,028.31. This means that it is up by 0.14% against the USD. The trading volume over a 24 hour period is $8,902,741,690 and the market capitalization is $70,932,564,968.
For now, all we can do is wait and see if the Litecoin price prediction 2019 will come to pass. All the Litecoin forecast have been positive. As reported by smartereum.com yesterday, an analyst predicted that LTC will be as high as $124 By May 2019.
What do you think about the Litecoin price prediction 2019 and how it relates to BTC? Share your thoughts in the comment section.