Litecoin Price Monster Run Continues as $100 Seems Within Reach

Litecoin Market Outlook

Litecoin Market Outlook

"This, and the subsequent lower value of Litecoin is one of the reasons why many people consider Litecoin to be the Silver to Bitcoin's Gold". Between when Lee made the announcement and now, the price of Litecoin has moved up by over 95%.

"Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin". However, the relationship that has been observed within the Bitcoin network isn't as strong as the relationship between the Litecoin hashrate and price. One of them is the upcoming Litecoin halving event.

Like the vast majority of cryptocurrencies, Litecoin had a very good 2017. While Bitcoin's next halving is expected to occur in May 2020, Litecoin's next halving is expected to happen in August. It is important that the price of Litecoin doesn't fall below the bearish pin bar. Will Litecoin recover higher in Q2? Litecoin too notes great trading volume as its price tries to break the next resistance level near $90.

The run-up to block reward halving have typically created a flawless storm for cryptocurrency prices.

When looking at the big picture, it would appear Litecoin's uptrend only occurs because Bitcoin is rising in value.

Marte 2 HRs, 5 RBIs, Diamondbacks rout wobbling Red Sox 15-8
In his first start of the season against Seattle, he was tagged for four runs and didn't make it out of the third inning. Boston has yielded double-digit runs three times, and its starting rotation has given up 43 earned runs in 40⅓ innings.

More often than not, the surge is in Bitcoin prices is as a result of the awakening of Bitcoin wallets belong to whales (large holding investors). Falling as low as $50 would pave a way for lower dips against the United States dollars. Will Litecoin recover higher to $150 this month? At least, that's the theory that many feel is prompting the current Litecoin bull run. So, it may not be a insane idea for Litecoin to trade as high as $650 in May. One person who's voiced their doubt is Mike Novogratz of institutional crypto investment firm Galaxy Capital. Litecoin is a glorified test net for bitcoin.

Though Litecoin came as a Bitcoin fork aimed to offer lower fees with the faster transaction, yet the fact that Novogratz called it a "glorified testnet" for Bitcoin looks to be triggering the sensitivity of many individuals in the cryptocurrency ecosystem. Silver's $17 million market cap is 0.17% of gold's $8.7 trillion, whereas Litecoin's recent peak market cap of $5.7 billion is a much higher of 6.4% of Bitcoin's market cap. The Litecoin price prediction 2019 has been positive since then but people want to know if this Litecoin rally will extend to the second quarter of 2019.

Litecoin is following historical precedent as it marches toward its August block reward halving.

Litecoin Price Prediction 2019 - Is The Litecoin Price Reaching $150 This Month?

Christopher Williams is a British writer based in South Korea with a strong interest in emerging technologies, cryptocurrency, and the development of decentralized apps.

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