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Litecoin is up 183% in 2019: What is pushing the price up?

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Litecoin (LTC) has seen a dramatic increase in price over the course of 2019, surging a staggering 183% from $30 up to the current price of $57. What is driving the price of the fourth largest cryptocurrency in 2019?

The LTC halving is set for August 2019

Litecoin operates much like Bitcoin, and will also be performing a reward halving. Unlike Bitcoin, the halving is set for August 2019 while Bitcoins next halving is set for May 2020. The LTC halving will see the mining reward per block cut down from 25 LTC down to 12.5 LTC. In the past, reward halvings have caused the token price to increase before the halving occurs. In the months leading up to the 2015 LTC halving, the coin rose over 700%. LTC is currently in the same trend since January.

BTC has always seen an increase in price following the halving of block rewards. The trend has proven to be true in the past two halving and there is no reason why it should not be true for bitcoins 2020 halving.

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Litecoin is a proven cryptocurrency

Litecoin has proven itself to be a real digital asset over the past few years. The project, which was founded by Charlie Lee in 2013, makes it one of the oldest projects that are still relevant, only beaten by Bitcoin. Litecoin has remained and continues to remain relevant in the crypto industry.

Litecoin continues to develop and evolve

Litecoin might be the fourth biggest cryptocurrency in the world, but that has not stopped the team from continuously pushing upgrades and development on the project. Litecoin founder Charlie Lee recently admitted that he is “now focused on making Litecoin more fungible by adding confidential transactions.” Lee clearly has big plans for Litecoin to continue pushing the project with new features.

Litecoin continues to push mainstream media marketing

When it comes to marketing, LTC is not shy to splash the cash to get the LTC name out in the public. Litecoin has most recently partnered with the Ultimate Fighting Championship (UFC) for UFC 232. The UFC, which was last evaluated to be worth over $7 billion by Forbes Magazine, featured the Litecoin logo in the octagon for UFC 232. The event which was viewed to millions of UFC fans across the globe would have received plenty of attention. This easily could have caused an increase in the price of Litecoin.

Ultimately, LTC has proven to be a project that has stood the crypto test of time. Founder Charlie Lee continues to remain active with his project and is now looking to create privacy features to the project as well. Litecoin will continue to market itself to the world in an attempt to push mainstream adoption. If Bitcoin can reach $20,000 again in the future, there is no reason why the world’s fourth most popular cryptocurrency, the little brother of Bitcoin, cannot reach $300 once again.

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Litecoin (LTC/USD) forecast and analysis on May 23, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 91.47. 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 middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on May 23, 2019

As part of the Litecoin course forecast, a test level of 88.10 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 101.50 The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 87.80.

Litecoin (LTC/USD) forecast and analysis on May 23, 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 the moving average with a period of 55 and closing quotes pair below 83.50. This will indicate a change in the current trend in favor of the 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 May 23, 2019 implies a test level of 88.10. Further growth is expected to continue to the area above the level of 101.50. The conservative area for buying Litecoin is located area of 87.80. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 83.50. In this case, we should expect the continuation of the fall.

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Litecoin (LTC/USD) forecast and analysis on May 22, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 90.91. 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 middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on May 22, 2019

As part of the Litecoin course forecast, a test level of 88.10 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 102.00. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 85.20.

Litecoin (LTC/USD) forecast and analysis on May 22, 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 82.50. This will indicate a change in the current trend in favor of the 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 May 22, 2019 implies a test level of 88.10. Further growth is expected to continue to the area above the level of 104.00. The conservative area for buying Litecoin is located area of 84.00. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 80.20. In this case, we should expect the continuation of the fall.

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Litecoin (LTC/USD) forecast and analysis on May 21, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 91.88. 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 middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on May 21, 2019

As part of the Litecoin course forecast, a test level of 88.20 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 104.00. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 84.00.

Litecoin (LTC/USD) forecast and analysis on May 21, 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 80.20 area. This will indicate a change in the current trend in favor of the 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 May 21, 2019 implies a test level of 88.20. Further growth is expected to continue to the area above the level of 104.00. The conservative area for buying Litecoin is located area of 84.00. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 80.20. In this case, we should expect the continuation of the fall.

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