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Bitcoin and Litecoin set to experience a bullish trend, technical indicators hint

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Litecoin is one of the biggest cryptocurrency in the crypto-sphere as it is among the top 10 cryptocurrencies. The crypto is often regarded as a lightweight Bitcoin because it is technically almost identical, faster and cheaper than BTC. It is important to note that Litecoin is the 7th largest cryptocurrency according to market capitalization and is carried by different exchanges around the world.

Litecoin / Bitcoin Market Activities and Price Forecasts

The price of LTC has been moving steadily at $60 price mark; however much of its activity is affected by the market activity of Bitcoin. Bitcoin increased recently to $6,800 so did Litecoin.

At the moment, Bitcoin is moving in a steady momentum which makes its price move at the rangebound of $6,200 to $6,580 in the 1-hour market chart. Also on BTC’s 1-hour chart, BTC 20-Period WMA is at $6630. Subsequently, Bitcoin’s MACD is building momentum for a bullish run.

On BTC 4-hour market chart, four resistances have been created from the last bear trend: $7,370, $7000, $6900, and $6700. BTC’s stochastic indicator also shows that Bitcoin is overbought and we may see a bull trend very soon, even though the BTC’s market chart shows it is in a symmetrical triangle.

If Bitcoin breaks out of its symmetrical triangle – out of (E), then that will positively affect the price of Litecoin and help LTC break out of its uptrend.

Bitcoin’s technical analyses are pointing out a bullish prediction in the next few days. However, the overall vital resistances for a breakout are $6800, $7000, and $7300 price marks.

Even though LTC is approaching resistance at 66 (ascending channel’s resistance, 100 percent Fibonacci extension) and a sharp dip might happen below this level dragging price down to the significant support at 57, 76.4 percent Fibonacci retracement, and 100 percent Fibonacci extension, there is still a high possibility that a breakout will occur.

Stochastic (55, 53) is still seeing a bearish divergence and approaching resistance where a reaction below this level might see a corresponding drop in price, but a breakout on Bitcoin will also affect Litecoin.

As regards to price predictions, many crypto analysts have are confident that Litecoin will reach a price of $500. If you are to take a look at Litecoin, you will notice that it is performing well.

At the time of writing, LTC is priced at $59.80 with a market capitalization of $3,504,111,177. Today, lots of institutional investors are investing in cryptocurrency, and as a result, the number of daily transactions on Litecoin has increased.

Based on its price forecast, it is safe to say that now is the right time to invest in Litecoin. Of course, you should not spend more than what you can afford to lose, though – the crypto market is extremely volatile and that’s a fact we should not forget no matter whatever the things point at a given time.

Overall, there is a bullish sentiment that is coming up with Bitcoin and Litecoin, which will have these coins jump to more than their current price.

Bitcoin is expected to go up till the end of the year steadily now. In the case of Litecoin, if it manages to come up above $60 price mark, then, it may move further to $70 or more. Consequently, LTC has been able to hold on to $60 for a few days now; in the coming days, positive things are set to come on the price of LTC – but investors need to be patient.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Lieve Ransijn on Unsplash

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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