- Crypto Experts says during Litecoin halving, LTC dump equals BTC pump, advises users to watch out for August rally.
- Litecoin and Bitcoin in the market.
- Fundstrat advisor advises crypto users to HODL
As we have less than 55 days to the Litecoin halving, and LTC has been witnessing a very high surge in the cryptocurrency market, giving Bitcoin and a host of other digital currencies a reason to pump.
The cryptocurrency market return, which saw Bitcoin move above $8200 at some point yesterday, before sloping down a bit, is being led by Litecoin.
As experts levy the sudden growth of the market to the upcoming Litecoin halving, there is a point to deduce from the last Litecoin halving which was succeeded by a bull run for Bitcoin especially.
Analyst Sees Bitcoin Going Higher, While Litecoin Dumps
Analyst Velvet has said there is a great chance Bitcoin goes higher while Litecoin dumps, as we get closer to the much expected Litecoin halving.
Velvet, in his analysis said in 2015, Litecoin dumped 46 days before the LTC halving, adding that Bitcoin started pumping during the halving period.
While the crypto observer is not sure if history will repeat itself again, he’s however certain that during last halving period, Litecoin dump equals Bitcoin pump. That is, if the same thing happens this time, there is no doubt that Bitcoin will go past its present level.
Importantly in his assertion, Velvet said Bitcoin enthusiast should watch out for 05 Aug 2019 at time 23:37:49.
As crypto followers become more certain that Bitcoin will see a price upsurge, crypto experts and co-founder at Morgan Creek, Antonio Pompliano has said Bitcoin is going to exhibit a price increase in the next 16 months.
Pompliano is optimic that Bitcoin will see a massive storm during this period considering the adoption of the digital currency across the world.
Bitcoin and Litecoin in the market
At the time of writing, Bitcoin is changing hands at $8120 with 1.70% price increase. For Litecoin, the digital currency has been seeing a price increase since the beginning of today. However, Litecoin is changing hands at $133 with 2 percent price reduction.
The whole cryptocurrency market appears to be witnessing price upsurge since morning, there is no doubt that the rally is being led by Litecoin with other digital assets following the crypto in growth.
Buy Cryptocurrency, Says Fundstrat Advisor
As the crypto market begins a fresh rally yesterday, diverse opinions have surfaced on different social platform.
Fundstrat Global Advisor, who sees the possibility of Bitcoin and some other digital assets progressing is dropping technical analyses to back the present trend up.
As revealed by Bloomberg, Fundstrat technical strategist Rob Sluymer wrote that the Relative-strength-index momentum is beginning to move upward from its neutral point, an indication that the crypto market is set for a bullish run.
While he had earlier advised that investors remain calm to see the outcome of the May price surge, the technical analyst now see investors benefiting in this present price rally.
He expatiated on the role of Litecoin in bringing the cryptocurrency market back to its previous stage since December, saying the digital asset just cleared the 121 resistance level and it is heading towards 145.