Litecoin prediction 2019 has been positive since the silver to Bitcoin’s gold started surging against the USD in December. As Litecoin news started reporting recovery, people began to suggest that the price of Litecoin was recovering ahead of the Litecoin halving as it is common with cryptocurrencies. Now, the latest price prediction 2019 on cryptocurrency news is that Litecoin will surge as high as $650 in May 2019. Will Litecoin recover to $650 in May or is that just wishful thinking? Is this latest Litecoin prediction 2019 based on the fact of fiction? Will Litecoin go back up?
Litecoin Prediction 2019: Will Litecoin Recover, Will Litecoin Go Up Again?
The $650 Litecoin prediction 2019 was shared on Twitter by Jason A. Williams the co-founder of Morgan Creek Digital. The prediction was made by the well-known cryptocurrency analyst, ScienceGuy9489 but was shared, Williams. The Litecoin price prediction 2019 wasn’t the only one that was shared by the analyst. He also predicted that the Bitcoin price will get to $28k by April 11 while Ethereum will get to $2,090 by April 24. His reason for giving this prediction is that the 50 DMA for all the three cryptocurrencies is about to cross the 200 DMA and the result would be an incredible Bitcoin bull run.
So, will Litecoin recover and go back up? The Litecoin price bull rally started in December shortly after many people had given up hope in Litecoin’s recovery. Since then, the price of Litecoin has been on fire rising by more than 150%. If Litecoin could rise by over 150% between December and March, there is a possibility that it will rise even higher before the end of the year.
Apart from the Litecoin halving, NewsBtc also noted that the Litecoin mining hashrate has been on a steady rise over the last three months. This shows that more miners are coming back to the network because they believe that a Litecoin bull run is imminent. The Litecoin miners are now generating about 270 TH/s. This increased confidence from miners is strong support for the price of Litecoin. It also increases the confidence a typical digital asset investor has on the network because it shows that it is secure. When more miners are working on a network, it is less prone to hacks and power consolidation attacks.
With Bitcoin, there is a relationship between hashrate and price. However, the relationship that has been observed within the Bitcoin network isn’t as strong as the relationship between the Litecoin hashrate and price.
Litecoin Prediction 2019: Litecoin Price Prediction 2019 Receives A Push From Charlie Lee
In January, Litecoin’s Charlie Lee announced that the Litecoin team was making plans to implement a new privacy protocol on the network. In his words;
“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
Privacy coins are trending now. So, it’s not a surprise that this announcement supported the Litecoin price prediction. Between when Lee made the announcement and now, the price of Litecoin has moved up by over 95%. So, it may not be a crazy idea for Litecoin to trade as high as $650 in May. At the time of writing, Litecoin (LTC) was enjoying the bullish wave in the market trading at $61.39. This means that it is up by 0.81% against the USD and up by 0.35% against BTC. The trading volume over a 24 hour period is $2,005,195,548 and the market capitalization according to CoinMarketcap.com is $3,749,652,689.
Litecoin (LTC) Price Today – LTC / USD
What do you think about the Litecoin prediction 2019? Will the Litecoin price prediction 2019 in today’s Litecoin news come to pass? Share your thoughts in the comment section.