• 18 June, 2024
News

Crypto Analysts Bullish on Litecoin, $100 in 2023?

Trading at $76 at press time, Litecoin soared over 7.70% in the last 24 hours, per CoinMarketCap (CMC). Opening 2023 at $74.25 with a 7.05% growth, LTC helped elevate global crypto market cap to $839 billion. Michaël van de Poppe (@CryptoMichNL), Founder & CEO, Eight Global, sees a bullish 2023 for LTC. He sees $100 as the next stop for Litecoin. He sees a $80 LTC price mark approaching soon enough since the $72 resistance level is broken.

Sharing his LTC analysis, Michaël van de Poppe tweeted:

A couple of other crypto analysts have also voiced their LTC analysis in recent days. Bill Barhydt, CEO, Abra Global, quote-tweeted Jameson Lopp, co-founder & CTO, CasaHODL. While the latter shared Bitcoin (BTC) network uptime since 2009, the former quoted the said tweet stating LTC is the only decentralized P2P payment system with 10 years of seamless uptime.

Quoting Jameson Lopp, Bill Barhydt tweeted:

In a subsequent tweet Barhydt says he uses BTC to store wealth, and prefers to use LTC for P2P payments via crypto. Quoting Barhydt’s above-mentioned tweet, Bruce Fenton, CEO, Chainstone Labs, stated Litecoin is a strong proof-of-work (PoW) blockchain.

Bruce Fenton tweeted their views on Litecoin:

Master Kenobi, a crypto analyst, sees a pre-halving LTC run to the $485 level, following a 90% fall. Worth mentioning is that 52 million new addresses have reportedly embraced the Litecoin network. A total of 39 million transactions are completed by Litecoin in 2022. The LTC halving events have in the past led it to witness a price rally.

A resultant price rise is therefore expected in August 2023. A 50% drop in minted LTC led to a rise in its price, sparking a crypto bull market, subsequently resulting in BTC halving.

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