If Bitcoin is digital gold, then the Litecoin (LTC) cryptocurrency is digital silver. According to an analyst with the nickname Benjamin Blunts, the younger brother of the king of cryptocurrencies and the seventh largest cryptocurrency according to market capitalization is ready to bounce off the bottom he found. What is the prediction for Litecoin? Can he show his strength again?
Prediction for Litecoin: New high or fall?
Cryptocurrency Litecoin surprised everyone at the beginning of 2019, when it managed to take over 500 percent, making it the most profitable asset on the market. Could she repeat its trick?
Later in 2019, Litecoin was the first to show signs of returning to earlier high at the end of the year. This is one of the reasons why many now look at him as a swallow foreshadowing the running of a bull.
According to an analyst with the nickname Benjamin Blunts, Litecoin managed to complete the ABC correction, which should be followed by five impulses that drive prices up. This is a theory known as Eliot Wave Theory.
If this is confirmed, the cryptocurrency could theoretically easily exceed the 2019 high and together with the rest of the market head towards high the end of 2017.
starting to think $ltc may have bottomed, am cautiously long, a break above $69 and id say the bottom is in and new highs on the cards and obviously if ltc bottomed it means corn did aswell.— ??Benjamin Blunts?? (@SmartContracter) March 5, 2020
not full bulltard just yet but it is looking optimistic pic.twitter.com/CBj1IEewkO