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Altcoin Trader Analyzes Relationship with Bitcoin and Alts, Shares What to Expect in the Next Months

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The cryptocurrency market has changed tendency during the last few weeks and there are several analysts that are already predicting a new bull run in the near future. Due to the positive outlook that many enthusiasts are expecting an altcoin trader and analyst outlined the relation between Bitcoin (BTC) and alts and what to expect in the next months.

Altcoin Trader Provides Insight About the Future of the Market

Nik Patel, the author behind “An Altcoin Trader’s Handbook” has given his point of view about the virtual currency market and the state of the whole ecosystem. He shared an analysis about how he expects the upcoming bull cycle to play out. This provides traderswith an idea of what to expect in the near future.

On Twitter, he says that he believes that people will be holding out for ALTUSD prices that for them are worth to start selling. He says that it is necessary to pay close attention to how altcoins are priced against BTC when Bitcoin remains relatively cheap.

He says that ALTBTC prices will also experience a bull cycle and Bitcoin will remain stable. Later, Bitcoin will be breaking above the range and move towards $6,000. At that time, altcoins will be sold off.

$6,000 is a very important level for Bitcoin because it was the main support level throughout 2018 and until November. Now, it became resistance and it will be acting as a strong barrier that Bitcoin will have to break if it wants to keep growing in the future.

At the same time, Patel explains that the upcoming bull run is not going to be as the one experienced by the market in January 2018 when most of the digital assets reached their all-time highs. During the last year, altcoins fell in BTC and USD terms, but due to the fact that alts are a very small market and do not have enough liquidity, it is easier to move it.

Patel thinks that several investors will lose during the next bull run because they will be waiting for altcoins to reach their previous all-time highs in USD terms rather than in BTC.

Now, each Bitcoin can be purchased for $3,900 and it has a market cap of over $68 billion.

Source.bitcoinexchangeguide

Litecoin

Litecoin Creator Charlie Lee Says Crypto Traders Should Take Profits

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Litecoin creator Charlie Lee says crypto traders should take profits when the market is up.

In a new ask-me-anything hosted by Chainnode, Lee talks about market psychology and his decision to sell all of his LTC near the height of the 2017 bull run.

“I didn’t know when the bear market will hit, but I did know that it was bound to happen. Having been in this industry for 6 years at the time, I’ve seen multiple bear and bull markets.

We always overshoot both on the upside and the downside. So when the market has been going up a lot, it’s always good to take some profit. That said, when I sold, I wasn’t thinking of timing the high. That was just luck. No one really knew and I didn’t know. I thought LTC might hit $1,000 at the time.”

Lee says he believes short-term volatility in the crypto market won’t stop LTC and Bitcoin from thriving in the long run.

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Altcoins are rallying once again with Litecoin leading the charge

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Altcoins are rallying once again with Litecoin leading the charge

The cryptocurrency markets have begun to rally once again with Litecoin (LTC) leading the charge for the top 10 cryptocurrencies, as per data from CoinMarketCap.

After enduring a week of losses, bitcoin jumped by $1,000 within an astonishing thirty minutes yesterday, prompting gains from the altcoin market. However, Litecoin was the clear winner, rising by a whopping 13%.

At the time of writing, Litecoin is trading at $98.98, however, at one stage the altcoin spiked to as much as $100 per token.

Altcoin markets in the green

It seems that the broader crypto markets are all in the green for now, which is a breath of fresh air considering a week of red. Bitcoin once again rallied and defended a critical area above $9,000.

Following the OG cryptocurrency’s moves, altcoins such as EOS, Binance Coin (BNB), Ethereum (ETH), and Bitcoin SV (BSV) have all seen gains between 7 and 12%.

Litecoin takes the prize for top-performing altcoin, leading the pack by an extra 1% in 24-hour gains.

The leading cryptocurrency, bitcoin (BTC) has surged by over 8% in the past 24 hours. After slumping below the $10,000 area yesterday, bitcoin has seen an impressive rally back to trading at $10,400 at the time of writing.

Ethereum has also recovered from several days of lows, managing to climb back to $220 in the past 24 hours.

Notably, Stellar has pushed TRON (TRX) out the top 10 cryptocurrencies as it managed to rally by 7% to exchange hands at $0.088531 at the time of writing.

Bitcoin SV is also up by nearly 7% and exchanging hands at $138 at the time of writing. The altcoin’s rally could be attributed to the recent news that it is now available in Brazil.

In a nutshell, the top twenty cryptocurrencies are all in the green, save for UNUS SED LEO which has seen a 2.8% dip in the past 24 hours to trade at $1.31.

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Litecoin (LTC/USD) forecast and analysis on July 20, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 99.58. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on July 20, 2019

As part of the Litecoin course forecast, a test level of 98.20 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 117.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator at 76.50.

Litecoin (LTC/USD) forecast and analysis on July 20, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 72.50. This will indicate a change in the current trend in favor of bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on July 20, 2019 implies a test level of 98.20. Further growth is expected to continue to the area above the level of 117.20. The conservative area for buying Litecoin is located area of 76.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 72.50. In this case, we should expect the continuation of the fall.

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