Litecoin has been on an epic rally in the last few weeks, and many people are starting to say that this is the end. However, our charts are indicating something very different for the next few days in the Litecoin market. With the halving coming up in just a couple of weeks, we think there is a lot more action that can be squeezed out of this top-tier alt. If all goes according to our predictions, we could be about to witness a Litecoin mega pump.
Mega Pump Inbound
We’ve been tracking the price of Litecoin for a few weeks now, and we’re starting to see a lot of positive signals crop up. Our analysis expected a short and sudden spike in price around June 6 to around 0.017 sats, with the actual spike to that price happening a few days later. If the current trend continues, we could very well see another jump to 0.02 sats around June 20th. If this holds true, we are then expecting a little dip, followed by more upwards movement, culminating in another pump around July 4th to the 0.23 sat mark. Finally, we’re expecting the Litecoin action to top out around the middle of July with a price tag of 0.039 sats before a sharp and sudden fall to the 0.019 sat range where it should hold steady for a few weeks.
Could Litecoin Be a Dry-Run for Bitcoin?
With the Litecoin halving just around the corner, we could use this Litecoin price data as a dry-run for Bitcoin next year. In early 2020, Bitcoin is due to undergo a halving event – much like Litecoin is currently experiencing. This means the block reward will be cut in half. In the past, it has been a catalyst for huge upwards price movements and it has been working a treat for Litecoin. If we see even half the movement for Bitcoin in early 2020, we could be in for a bumper Bitcoin 2020.
Litecoin is continuing to follow our predicted trendline and if it keeps on this track, we see the potential for huge gains in the near-term. As soon as the halving is completed, prices will start to return to a more reasonable level, so ensure you cash out your gains while the price is rising – this way you won’t be left holding a bag of coins until the next halving event.