The digital currency market is continuing its downward correcting after a little upward correction yesterday. Yesterday, Bitcoin (BTC) was trading around the $10k level. At the press time, the world’s most dominant digital currency is struggling to break over the $9,600 resistance level. BTC USD live price is $9,500 after it plunged to a low of about $9,300. The entire market is deep in the red, as only two coins out of the top 100 in the market are trading in the green.
Litecoin (LTC) is also suffering a great loss. LTC USD plunged to the low of $84 yesterday. However, over the past few hours, the price of LTC is down by about 12 percent, bringing LTC USD price below the $80 mark. Litecoin (LTC), which was the fourth-largest digital currency by market cap, is now down to the fifth position. Litecoin (LTC) tested its year-to-date high of $153 on the 22nd of June. Since then, LTC USD price has plunged by almost 50 percent, and it might plunge lower according to a popular Elliottician on Twitter.
Litecoin (LTC) Will Experience a Heavy Dip Before the Litecoin Halving 2019 Before Testing New All-Time Highs – Litecoin Price Prediction 2019
With the predictions and speculations in the crypto space, it appears that the worst is not over yet. Recently, a well-known Elliottician on Twitter – Benjamin Blunts – shared is a prediction on the future price action of Litecoin (LTC). Blunts shared a piece of sad news and two pieces of good news. According to blunts, the long-term bottom of Litecoin (LTC) has set in. nevertheless, the digital currency will experience more dumps soon before it continues its upward trend.
We are just 18 days away from the Litecoin halving 2019. Crypto halving has a very bullish nature and it one of the most anticipated events in the digital currency space. On the 20th of August, rewards for mining blocks on the LTC network will reduce by half, from 25 LTC to 12.5 LTC. The reduction of circulating coins reduces the inflation rate of the digital currency from about 8 percent to about 4 percent. A lot of people are expecting the forthcoming Litecoin halving event to supercharge the price of Litecoin. Nevertheless, Blunts believes the opposite will be the case.
The analyst recently shared a chart on Twitter to illustrate how the price of Litecoin is likely to keep plunging before it skyrockets. In a tweet, he said that Litecoin is in an interesting place because it is clear to see a complete five waves up. This means that ETH market is no longer plunging lower and that the bottom is in from a macros perspective.
Litecoin Price Analysis – Litecoin Price Prediction 2019 – Litecoin Halving 2019 – LTC USD Live Price
The price of Litecoin (LTC) is currently deep in the green and it just lost its position to Bitcoin Cash (BCH). The $84 mark failed to hold gains yesterday and the price of Litecoin plunged below the $80 mark. For the past twenty-four hours, the price of Litecoin saw a loss of $11, which is a decrease of about 13 percent. The digital currency faced a strong hurdle at the $80 mark but surpassed it. At the press time, LTC USD live price is $91. Litecoin currently boasts of a market cap of $5.01 billion and a trading volume of $4.73 billion.