Will Litecoin finally breakout above $50?
#Litecoin has been coiling in the $40s since it finally broke out and closed above the $34 level on 6/17/17.
As you can see from the chart above, the $34 level had been a formidable resistance area since early May 2017. After breaking out above it, litecoin traded as high as $49.99 on 6/19/17.
At current price levels, the market valuation of litecoin is just under $2.5B. In comparison, #bitcoin's market cap is about $45B and #ethereum is valued at about $32B. See for yourself here: https://coinmarketcap.com/
So with #cryptocurrency and #blockchain bulls holding recent market gains across various offerings, the question must be asked: will litecoin finally breakout above $50? If so, what's the next target and how high do you expect its market valuation to reach?
Share your thoughts in the comments!
It absolutely will breakout above the $50 level. I purchased a small amount on coinbase but will definitely get some more.
It's at an interesting juncture, for sure. #litecoin bulls will have to maintain the momentum here after breaking out above $34 and definitively push through $50.
I think it will, had some lying around somewhere, better go find that account again
If it breaks out, what's your price target in terms of market valuation for #litecoin versus #bitcoin & #ethereum? Right now LTC is relatively small in comparison to the latter two. Then again, BTC and ETH are the giants of the #cryptocurrency markets right now.
I'm still nervous about the bitcoin adoption of SegWit2x. I know Charlie Lee thinks they can coexist, but the speculators might go running after the August 1st date. The MIT "news" from yesterday has me wondering what's going on. Not too excited about it though, considering Charlie Lee doesn't even seem to know what it's about.
With Charlie Lee being the Director of Engineering at #coinbase, it seemingly offers an additional layer of transparency as far as #litecoin developments are concerned moving forward.
He left coinbase recently to focus all of his attention on Litecoin. I think that's gotta help.
Thanks for that update. I wasn't aware that he had left Coinbase. His full time attention to #litecoin further illustrates his commitment. Will be interesting to see how it fares versus bitcoin and ethereum in the months and years ahead.
I love how fast Litecoin transactions are right now. I hope Bitcoin segwit2x will bring it up to par!
absolutely
Oh yes, you bet. I'm pretty sure when ETH follows footsteps of BTC, then LTC will follow ETH, on fourth place I predict Zcash and then Bytecoin.
Wait for this until October and we'll discuss again then. :-)
good info - thank you!
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