The crypto market has been correcting prices for a few days now.
There are tons of predictions regarding the coins’ prices and today we’ll be focusing on the one of Litecoin.
Smartereum brings up a well-known figure in the crypto space Benjamin Blunts who reportedly shared his prediction on the future price action of Litecoin (LTC).
He shared some pretty said news and said that the long-term bottom of LTC has set in but the coin will be experiencing even more dumps soon before it is able to continue the upward trend.
The Litecoin halving is just around the corner and on August 20 “rewards for mining blocks on the LTC network will reduce by half, from 25 LTC to 12.5 LTC. The reduction of circulating coins reduces the inflation rate of the digital currency from about 8 percent to about 4 percent.”
People are expecting that this event will change the price of LTC a lot, but the analyst believes that this will not be the case.
LTC will fall more before going up again
He took to twitter to show how the price of Litecoin is likely to keep plunging before it goes up.
In a tweet, he said that LTC is an interesting place because it’s clear to see a complete five waves up.
Head over to Smartereum’s original article to learn more.
Litecoin price predictions
Litecoin’s creator, Lee believes that novice crypto investors should prepare themselves for risks.
During an interview on Crypto Love, Lee brought up the warnings that he gave to investors back in 2017 when LTC’s value was boosted to the moon.
Lee says he thinks Litecoin hopefully “bottomed out” already.
He also brought up the halving event and said: “the halvening should be priced in because everyone knows about it since the beginning. But the thing is people kind of expect the price to go up.”
At the moment of writing the article, LTC is trading in the green on CMC and it’s priced at $98.96.
