This month took a new and surprising turn for the crypto market. From the first day of April, the bull market started. In less than 24 hours, Bitcoin surged above $5,000 and it took most altcoins with it. Litecoin was one of the lucky ones and going by Litecoin prediction 2019, it has surpassed all expectations.
Litecoin (LTC) Price Today – LTC / USD
Bitcoin has always been a trendsetter for price surges, but this isn’t always the case. However, Litecoin followed the trend and rose by about 6% according to CoinMarketCap. Bitcoin Cash (BCH) also saw a 6% increase at press time. The price surge came at a time when the first halving announcement was made.
Litecoin saw a 6.80% spike in 24 hours
In less than 24 hours LTC saw a spike of 6.80%. it was valued at about $93.72 and had a market cap of $5.73 billion to place it at the fourth position on the list of cryptocurrencies. The coin also registered an increase of about 54.98% this week. It also recorded a loss of 0.23% over the past one hour.
Ethereum World News reported that Litecoin has seen a 200% spike this year. The digital currency experienced its last low in December last year. Analysts also believe that the price could surge some more when the LTC halving occurs.
Charlie Lee’s Litecoin predictions 2019
Litecoin founder, Charlie Lee is one accurate predictor when it comes to crypto prices. The founder has made some bold price predictions in the past and many of them have been accuracy or extremely close. Some of the famous predictions include the LTC bottom price as well as how he sold his holdings before the 2018 bull market.
In 2017, the digital currency implemented the Segregated Witness or SegWit as it is called. It was the first major digital currency to do so. It plays the role of reducing the blockchain size limitation problem. This, in turn, reduces the size limitation problem that affects the blockchain.
A month before this update was implemented, Lee spoke about the number of nodes the SegWit update will be implemented to and predicted the price.
When Lee made this statement, the coin was trading at $7.74. it was predicted to reach $14 which was an 81% increase in the coin’s price.
After two days, it touched $11 and five days later after SegWit was implemented, the coin soared to $31.94. this prediction even surpassed the initial figure. It increased more than four times what was expected.
Since then, analysts always listen when he predicts prices. Litecoin predictions 2019 reveal that the digital currency is expected to reach a high of $124.
Bitcoin Cash saw a 6% increase as well
The fifth largest cryptocurrency by market cap, BCH, saw an increase of 6.76% at press time. It dipped by about 0.56% and has recorded progress of about 84.40%. the coin was also valued at $309.66 with a market cap of $5.48 billion. The 24-hour trading volume is pegged at $2.34 billion.
The network has been scheduled for a block reward halving that would occur a month before Bitcoin. It may also be delayed until after Litecoin has commenced theirs. This news has facilitated the spike in both prices. Analysts believe that the trend will continue even after the event takes place.