Shortly after the Litecoin Summit, the Litecoin price prediction 2019 anticipated that the price of Litecoin will recover this year. Many industry leaders aired their views during the Litecoin Summit and it has been trending in the cryptocurrency news today. In a recent Litecoin price prediction 2019 on TheOofy, a cryptocurrency analyst predicted that the price of Litecoin is going to recover incredibly this year because of the strong partnerships the Litecoin Foundation has been able to make in recent time. It predicted that Litecoin will recover because of an influx of institutional money and anticipation surrounding the upcoming Litecoin halving.
Litecoin Price Prediction 2019: Will Litecoin Recover? Will Litecoin Go Back Up?
Regarding the Litecoin prediction 2019, the price of the LTC token is already recovering against the USD. Since December, Litecoin has increased by more than 150% against the USD. Apart from the solid partnerships and the upcoming Litecoin halving, the price of Litecoin is also increasing because the general market sentiment is positive at the moment. The price of BTC has been relatively stable against the USD since the beginning of the year and altcoins have also done incredibly well during this period.
If the bullish trend in the market continues, the bright future that was discussed during the Litecoin Summit would not be so far fetched. Recently, Litecoin was up by 7.5% against the price of BTC and up by 7% against the USD. However, at the time of writing, it was correcting lower against the USD at $60.72. This means that it is up by 0.68% against the USD and down by 0.22% against BTC according to CoinMarketcap.com. It is losing its momentum and risks falling below the $60 level today if it doesn’t pick up. The 24 hour trading volume is $1,648,482,611 and the market capitalization is $3,712,322,893. Short-term, the price of LTC is having difficulty building enough momentum but there are brighter days ahead.
During the Litecoin Summit, the representatives of the Litecoin Foundation said that they were making plans to debut SFOX. SFOX is one of the keys to the positive Litecoin price prediction 2019. The goal is to give institutional investors an opportunity to explore Litecoin rather than focus on Bitcoin and Ethereum alone. During the Litecoin Summit, Gemini Trust announced that it would soon support Litecoin. Litecoin (LTC) being available on Gemini Trust is a big deal as it creates a lot of exposure.
Litecoin Price Prediction 2019: Litecoin Technical Analysis Today
Per the Litecoin technical analysis, LTC has found a bottom and is due for a new bull cycle. This isn’t going to be just any bull cycle, it’s going to last for a long time and the price of Litecoin will increase significant if everything happens as expected. The relative strength index of LTC is in the bullish zone just like the other technical indicators. This shows that the price of Litecoin is going to be bullish through out 2019.
Litecoin (LTC) Price Today – LTC / USD
Apart from the bullish LTC/USD pair, the LTC/BTC pair is also bullish. LTC has been outperforming BTC for a while now just like other altcoins in the market. If it keeps it up, things would get better on this front. Even if Bitcoin begins to outperform LTC, the price action of Litecoin will still be positive.
hat do you think about the cryptocurrency news today about the Litecoin price prediction 2019? Will Litecoin recover? Will the Litecoin halving and other positive developments discussed during the Litecoin Summit boost the price of the digital silver? Share your thoughts in the comment.