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Litecoin Creator Charlie Warns Wannabe Crypto Traders, Says LTC Halving Already Priced In

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Charlie Lee, the creator of Litecoin, thinks prospective crypto investors should prep themselves for risk.

In an interview on Crypto Love, Lee discusses the warnings he gave to investors in late 2017 when Litecoin’s value was skyrocketing.

“Crypto’s really risky. I’ve seen many bear markets or crashes that are 90% down. So, at that time when it was $200, I said it can drop to $20 and don’t be surprised if it does, and what happens is when the price does crash, it shakes off all the weak hands. Everyone who bought in at $200 or higher will sell at $20, and they’re losing 90% of their portfolio. So, my point was that if you can’t withstand a 90% drop, then don’t buy in, because it’s too risky for you.”

Litecoin did almost drop to $20 by December 2018, though it is now trading around $123. Lee says he thinks Litecoin hopefully “bottomed out” already.

He also discusses the likely impact of the upcoming Litecoin halving, which is less than a month away.

Says Lee,

“The halvening is always kind of a shock to the system. When the mining rewards get cut in half, some miners will not be profitable and they will shut off their machine. If a big percentage does that, then blocks will slow down for some time. For Litecoin it’s three and a half days before the next change, so possibly like seven days of slower blocks, and then after that, the difficulty will readjust and everything will be fine.”

“In terms of the price, the halvening should be priced in because everyone knows about it since the beginning. But the thing is people kind of expect the price to go up. So a lot of people are buying in because they expect the price to go up and that’s kind of a self-fulfilling prophecy. So, because they’re buying in, the price does actually go up.”

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Is the Litecoin Halving 2019 Pricing In, As Litecoin (LTC) Just Broke Over The $100 Mark

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After a massive plunge that pushed the price of Bitcoin (BTC) towards the $9,000 level, the crypto market is now back in the green. At the time of writing, almost all the top cryptos in the market are trading in the green. The price of Bitcoin (BTC) has also surged enormously, and it is now $400 away from hitting the $11k mark. Among the top ten cryptos in the market, the highest gainer over the past day is Litecoin (LTC). The performance of Litecoin (LTC) over the past day outpaced the performance of the rest coins among the top ten.

As soon as Litecoin started surging higher, it reclaimed its position as it recently lost is to Bitcoin Cash (BCH). Litecoin is now back to the fourth position on the list of top digital currencies by market cap. Litecoin (LTC) just broke over a major resistance level, which was its major support level earlier.

Litecoin (LTC) Breaks the $100 Barrier, Is This the Effect of the Forthcoming Litecoin Halving 2019?

Litecoin halving 2019 is just a few weeks away. As the Litecoin halving date approaches quickly, many digital asset investors are expecting the effect of the event to price in on LTC USD price. The price of LTC is supposed to have started responding to the forthcoming bullish event. Many digital asset investors and traders are wondering if this bullish movement shown by Litecoin (LTC) is the start of a massive price rally, as expected.

Prior to the last Litecoin halving, LTC USD price surged by more than 450 percent. This same pattern is expected of Litecoin. However, that massive is yet to start. But the recent upsurge in the price of Litecoin is very impressive and it looks like Litecoin is in for a run. Litecoin (LTC) is currently showing signs of tremendous recovery after a couple of days of weakness.

Litecoin Price Analysis – Litecoin Price Prediction 2019 – Litecoin News Today – Litecoin Halving 2019

Recently, the bears took over the market and all the top cryptos in the market plunged heavily. The price of Litecoin (LTC) broke below the $100 support level. LTC continued its downward movement and broke several support levels. LTC USD price broke below the $90, $80, and $74 support levels.

After testing a new monthly low, the price of Litecoin (LTC) started correcting higher. LTC USD started a sharp rally and broke over several resistance levels. The most significant hurdle Litecoin broke over the past day is the $100 mark. Litecoin has been trading below the $100 level for some days now. The break over that level is a sign that the digital currency is now back in business. Litecoin (LTC) recently tested a new yearly high of $154.

Litecoin (LTC) Price Today – LTC / USD

NamePrice24H (%)
Litecoin (LTC)$98.257.95%

If LTC continues with this trend, it might return to its previous year-to-date high. At the press time, the immediate resistance of the coin is the $105 mark. A break over this level will pave the way for more gains towards the $120 mark. LTC USD live price is $100.54 after an increase of more than 9 percent over the past twenty-four hours. The $98 mark is currently serving as the immediate support of the coin. Litecoin price prediction 2019 is $200. However, some analysts and digital asset investors are giving a Litecoin price prediction 2019 of $800.

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Litecoin (LTC/USD) forecast and analysis on July 19, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 89.20. 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 July 19, 2019

As part of the Litecoin course forecast, a test of 96.20 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 67.50. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator at 98.50.

Litecoin (LTC/USD) forecast and analysis on July 19, 2019

Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotations of the pair above 104.60. This will indicate a change in the current bullish trend for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on July 19, 2019 implies a test level of 96.20. Further growth is expected to continue to the area above the level of 67.50. The conservative area for buying Litecoin is located area of 98.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 104.60. In this case, we should expect the continuation of the fall.

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Litecoin (LTC) Trading Volumes Swelling, Will $100 Stop Buyers?

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Litecoin (LTC) Trading Volumes Swelling, Will $100 Stop Buyers?

  • Litecoin (LTC) recovery, adds 13.3 percent in 24 hours
  • Ron Paul is a supporter of cryptocurrencies

Despite FUD around cryptocurrencies, Litecoin bulls are active. Rejecting lower prices, LTC could float higher to $100 or better in coming days. Currently, bears will likely press lower since prices are down 17.4 percent week-to-date.

Litecoin Price Analysis

Fundamentals

Undoubtedly, for what they seek to achieve, cryptocurrencies are the building blocks of a borderless future. As Bitcoin’s founder Satoshi Nakamoto laid down the seed that is now blossoming, attracting comments from Donald Trump and high-ranking policymakers, cryptocurrencies now finds itself at a crossroad.

Although bans tend to reinvigorate participation, tempering digital assets and making the network robust as seen in Q4 2017 following China’s ban, there is a risk of a clampdown as regulators force market players to comply with relevant rules.

Even so, not everyone is in sync with Steven Mnuchin or Donald Trump’s view that cryptocurrencies are tools for criminals. Ron Paul, a former Presidential candidate, is fond of cryptocurrencies.

Talking to CNBC, he said:

“I’M FOR THE LEAST AMOUNT OF REGULATION. I DON’T KNOW WHAT’S GOING TO HAPPEN TO CRYPTOCURRENCIES. I THINK IT’S A GREAT IDEA. AND I ONLY HAVE ONE RULE: NO FRAUD […] I THINK THAT THE GOVERNMENT HAS A ROLE. AND SOMEBODY HAS A CASE THAT THERE IS FRAUD, I THINK IT SHOULD BE INVESTIGATED […]  WHAT I WANT TO DO IS LEGALIZE THE FREEDOM OF CHOICE, ABSENT BLATANT FRAUD.”

Candlestick Arrangements

Litecoin LTC

Presently, there is a slight recovery of asset prices across the board. However, this is common after a period of steep price decline. Trading below the $100 round number and the six-month support trend line forming a strong resistance confluence, sellers are in control. Regardless, there is a tinge of optimism.

Following a double bar bull reversal pattern from $75, LTC bulls may print higher. In that case, the first target will be $100. From there, sellers can fine-tune their entry in smaller time frames in readiness for $50 in a possible retest.

On the flip side, if there is a high-trade volume close above $100 ahead of August 5 halving, LTC could float higher towards $120 and $180 in a trend continuation phase.

Technical Indicators

Anchoring this trade plan is June 27 bear candlestick with high trading volumes of 824k. For confirmation of bulls or bears, subject to the direction of the breakout, the leading candlestick must be with high participation exceeding 824k. That will spur demand or liquidation with targets at $180 or $50 respectively.

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