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Can Litecoin benefit from Halving Bitcoin?

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Expert predictions about Bitcoin’s Halving point out that the price of the cryptocurrency may exceed $ 100,000. And this valuation is capable of benefiting other projects, such as the case of Litecoin (LTC).

Litecoin is one of those cryptocurrencies that may experience a wave of appreciation triggered by Bitcoin’s price surge after Halving.

Some analysts indicate that Bitcoin is known as digital gold, while Litecoin would become silver.

Litecoin is considered the silver of cryptocurrencies

Charlie Lee, founder of Litecoin (LTC), compares Bitcoin and Litecoin to gold and silver in the world of cryptocurrencies. Not only for its equivalences, but for the usefulness that people usually give it.

According to Lee’s explanation, gold and Bitcoin lend themselves to being more applied as long-term investments and expensive acquisitions.

While silver and Litecoin provide greater fluidity, being more practical for its users in everyday purchases.

Alternative that is taking a boom seeing that the price of Bitcoin increases

Litecoin (LTC) is sweeping, so much so that its creator has had to go out on social media saying that this currency also has its risks. Mainly, you have to think carefully before buying compulsively.

But despite the warnings, this currency has already shot up between 70% and 80%.

Why is Litecoin growing before Halving?

Some media suggest that it may be due to how high the value of Bitcoin begins to be.

What is causing many to see Litecoin as a good opportunity to join another that has the same potential to start growing.

Litecoin will trade at $ 3,000 for Bitcoin Halving

Bitcoin Halving will take place in a few hours, after the market has waited four years for the event to repeat. This day can affect the entire cryptocurrency market.

One of the effects that Halving can produce is the increase in the price of Bitcoin, and other cryptocurrencies can follow this wave of appreciation.

According to this forecast, some media indicate that the price of Litecoin can be quoted at $ 3,000:

Litecoin is the sleeping giant that is about to wake up. Litecoin’s price will hit $ 3,000 when Bitcoin goes up to $ 100,000. ”

The altcoin would be “asleep”, waiting to go through an appreciation that could mean a growth of up to 6,900% in the price, considering the current Litecoin price that is trading for about $ 42 in the market.

Analysts and their positions against Halving

Various analysts of the cryptocurrency market have stated their position on the possible impact of Halving on the price of cryptocurrency. The majority position is bullish.

Among the most daring, Tim Draper stands out, who assured that Bitcoin would reach USD 250,000 after Halving.

We have José Llisterri. Noting that:

“16 months after each of the above events, the value of the Bitcoin-US dollar pair has tended to approach its all-time high.”

Regarding this matter, Ivailo Jordanov, stressed, Bitcoin’s Halving, will make cryptocurrencies more attractive.

Similarly, Trent Barnes believes that due to the number of variables currently in play, it is difficult to give an accurate forecast of how Bitcoin will behave.

Generating more opinions

For his part, Fredrik Johansson believes that most cryptocurrency investors are now well versed in Bitcoin.

Likewise, Brad Koeppen stated that he himself will generate an increase in the activity of the crypto market, mainly due to the speculation of cryptocurrency traders.

Anthony Pompliano, meanwhile, has been one of the biggest proponents that Bitcoin’s Halving will bring with it a major rise in the price of cryptocurrency.

Jason Williams, on the other hand, does not believe that Bitcoin Halving brings many changes:

Bitcoin’s Halving in May 2020 will do nothing to prices. It will be a non-event.

Bitcoin is showing strength as Halving approaches. The FOMO It is also on the rise, making people eager to get into Bitcoin and the price to rebound strongly.

However, is this rebound sustainable for both Bitcoin and Litecoin?



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