It is no secret that all eyes in the crypto space have been on Bitcoin since the leading digital asset reached peak position on Thursday. However, many enthusiasts have been expecting a broader correction which hasn’t materialized as of June 30. As the BTC price consolidates today, other digital assets have started to take off. The leader in this process is Litecoin. Litecoin price is currently on the rise as we approach its coming halving event.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction 2019: Litecoin Price Surges by 15% on the Day
The weekend trading has actually been weak for most altcoins. In fact, it is only a small number of tokens that have made a couple of percentages in gains from their double digit losses this past Friday. When Bitcoin’s flash crash shaved no less than $55 billion from crypto markets, LTC dropped to $110. The correction caused a 24% percent loss from $145 for the coin.
Bitcoin’s correction also saw a similar scenario after it lost 25% dropping from $13,800 to $10,300 before recovering once again. As of press time, BTC price is back over the $12,000 mark but Litecoin price has pumped today and even reached $135 before it began consolidation.
LTC’s daily volume has increased by $5.7 billion which has reportedly pushed its market cap above $8 billion and allowed it to regain fourth position from Bitcoin Cash. BCH hasn’t moved much in comparison to LTC. Litecoin has now managed to recover almost all losses it suffered during the recent pullback. Year-to-date LTC has made 333% in gains and even outperformed Bitcoin.
Now That Litecoin Halving is 36 Days Away, Will See its Price Surge by 400% Like the Last Time?
The Litecoin halving is a month and a few days away. The event is slated for August 5. LTC price has shown resilience having recovered all the losses it suffered days ago while other altcoins are still weakened. Now, further gains are looking more likely regardless of whether or not Bitcoin rises or drops in the coming days.
LTC’s next resistance is $180, with another one at $225. Whenever Litecoin moves, it doesn’t hang on a thread. In December 2017, LTC had a similar prove with what it is priced at today. But over the next week, it increased to $370 and added 175% in days.
Litecoin’s last halving event occurred in August 2015. One month before the event proper, LTC surged by an impressive 400% moving from $1.70 to $8.50. The question is should we expect a similar price action this time around? This is a strong possibility.
Bitcoin Cash Has Lost the Number 4 Position
Other altcoins have actually been asleep compared to LTC. Bitcoin Cash has lost the number four spot to LTC. This occurred despite the fact that the coin added 5% today to trade at $440. EOS has had a lackluster weekend drawing back a few points from its double digit dump. Binance Coin is also quiet today.
It is only LTC price and a few others that are on track on the day. Chainlink is still benefiting from the recent Coinbase Pro listing after surging by 23% to trade above $4. BAT is going well having gained 12%. BitTorrent is up by 10% as the BitTorrent file system testnet will soon go live in a matter of days.