Crypto Analyst: Litecoin is a “No Brainer”

Tony "The Bull" Severino

6 years ago

3 mins read

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This past week, Litecoin helped lead another crypto rally and help carry Bitcoin and the rest of the market higher. The silver to Bitcoin’s digital gold, Litecoin is expected to be among the highest performing crypto assets in the coming months as investors accumulate ahead of the halving.

However, one particular crypto analyst is so confident in Litecoin, he calls his position a “no brainer.”

Plenty of Reasons to Be Bullish on Litecoin Beyond Halving

As Bitcoin continues its parabolic rally towards previous bull market highs, the rest of the crypto market reached new lows relative to Bitcoin. But over the past week, renewed bullish sentiment around Litecoin and its upcoming having – an event that reduces the reward miners receive for validating each block – has caused it to lead the market and set new local highs.

While much of the bullish momentum is due to the halving, one crypto analyst, CEO of Block Magazine Crypto Godfather, says that Litecoin is a “no brainer.”

❗️Please don't take me saying "Buying up $LTC" as "Buy $LTC".

– I'm a pretty high-risk trader in that I like to go for larger positions of very few coins (not very diversified)
– I am not a financial advisor in any way
– This market is volatile

— cryptogodfatha.eth (@CryptoGodfatha) May 27, 2019

As expected, the analyst points to the halving as the primary reason for taking a position in the Charlie Lee-created cryptocurrency, citing that each previous halving has “pushed price up significantly.”

Other potential reasons for being called a “no brainer” is the fact that Litecoin “has no resistance up to $125+.” After breaking above $110 over the Memorial Day weekend, Litecoin shot up another $10 to over $121 before it fell backed downwards alongside Bitcoin.

And while he expects the “overall bullish market” to continue to carry the price of Litecoin higher in the future, he does warn that “the market is volatile” and that he’s a “high-risk trader” and to not take the “no brainer” comment as a recommendation to “buy”.

Halving Means Less LTC For Miners, Demand to Outweigh Supply

Still, there’s no denying how important the upcoming halving will be in terms of the impact it could potentially have on the price of Litecoin in the coming months.

The Litecoin halving is under 70 days away, and has already started soaring as investors like Crypto Godfather begin accumulating to front run the expected influx of capital as we inch closer to the havling.

After the halving, the reward miners received for confirming transactions on the network will be reduced from 25 to 12.5 LTC. Each halving event throws off the balance of supply and demand, and historically has caused the price of Litecoin to surge. Bitcoin is another crypto asset that experiences a halving and behaves similarly, where the price of the asset grows significantly leading up to the pre-defined reductions.

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Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.