Connect with us

Litecoin

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

Published

on

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.”

News Source

Litecoin

Litecoin Forecast and Analysis September 16 — 20, 2019

Published

on

Litecoin LTC/USD ends the trading week at 68.42 and continues to move as part of the decline and the beginning of the development of the «Head and Shoulders» reversal pattern. Moving averages indicate the presence of a lateral trend, which will soon change in favor of a downtrend. At the moment, we should expect an attempt to develop a correction and test the resistance area near the level of 75.00. Where again we should expect a rebound and an attempt to continue the decline in Litecoin with a potential target below the level of 45.05.

Litecoin Forecast and Analysis September 16 — 20, 2019

An additional signal in favor of a drop in LTC/USD quotes in the current trading week September 16 — 20, 2019 will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the broken line of the «Neckline» of the «Head and Shoulders» reversal pattern. Cancellation of the Litecoin fall option will be a strong growth and a breakdown of the area of ​​110.00. This will indicate a breakdown of the resistance area and continued growth of LTC/USD. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 55.00.

Litecoin Forecast and Analysis September 16 — 20, 2019

Litecoin Forecast and Analysis September 16 — 20, 2019 suggests an attempt to test the resistance area near the level of 75.00. Then, the continuation of the fall to the area below the level of 45.05. An additional signal in favor of the fall of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of ​​110.00. This will indicate a continued rise in the cryptocurrency with a target above the level of 145.00.

News Source

Continue Reading

Litecoin

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 70.48. 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 stripes.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

As part of the Litecoin course forecast, a test level of 69.20 is expected. Where should 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 74.80. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 67.80.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​65.40. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019 implies a test level of 69.20. Further growth is expected to continue to the area above the level of 74.80. The conservative area for buying Litecoin is located area of 67.80. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 65.40. In this case, we should expect the continuation of the fall.

News Source

Continue Reading

Litecoin

Litecoin Price Analysis and Prediction for September 16th 2019 – Can LTC Hit $100?

Published

on

It seems like the cryptocurrency market is slowly waking up as the new week begins. Bitcoin continues to trade sideways while some cryptos are making small steps upwards, registering single digit percent gains. Litecoin made a nice recovery after this weekend’s slump and is currently trading at $71.23 on Bitfinex. Let’s take a look at any relevant Litecoin news that may affect the market and see if the charts tell us what’s in store for LTC.

cmc top10
Source: Coinmarketcap

Litecoin News

While not necessarily news, there is a big event coming up for Litecoin in Last Vegas. Dubbed Litecoin Summit, the event is planned to be held in The Cosmopolitan in Last Vegas on October 28th-29th. I will definitely be there, so if you are planning to attend make sure to connect with me on telegram (@Arginmark) so we can network!

On another note, such a big event is sure to bring bullish momentum to the cryptocurrency as it’s a common trend for a conference to boost interest in the market.

When it comes to current events, there are no big developments for Litecoin as of right now.

Litecoin Price Analysis

litecoin price chart 9/16/19
Source: @NullTX from Tradingview

Relative Strength Index: The RSI is currently at a healthy 51 points and rising. We caught LTC/USD right at the rebound after it retraced down to $71.1.

Bollinger Bands: Litecoin is currently within range of the two bands after briefly dropping below the lower band an hour ago.

Volume: Unfortunately, the volume is extremely low right now which is surprising given that it’s the start of a new week where markets are usually more active. However, volume can go from 0-100 extremely quickly if the market start swaying to either side.

Litecoin Price Prediction

The RSI and Bollinger Bands are both indicating that LTC/USD will trade sideways. Litecoin’s volume reinforces the sideways market because of how low it is.

My short term prediction is that Litecoin will stay above the $71 level at least for the first half of the week. As the news about Litecoin summit spread, I believe it will have a bullish impact on the market and we just may see a $100 Litecoin by the end of October.

News Source

Continue Reading
Open

Close