Litecoin (LTC) Set To ‘Wake Up’, According To Legendary Trader’s Forecast

Christian Encila

Last Updated: July 24, 2024 2:30 pm

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Both experienced traders and experts are drawn to Litecoin (LTC). Declaring it “about time for LTC to wake up,” John Bollinger, the author of the well-known Bollinger Bands, recently hinted to an upcoming change for LTC. As Bollinger examined Litecoin’s monthly chart using his own method, this enigmatic signal laid the ground for a possible price rise.

Focusing on the narrowing of the Bollinger Bands—a main signal of low market volatility— Bollinger’s study implies Litecoin could be about to undergo a notable price movement. His guidance on changing the logarithmic scale for a more exact data interpretation emphasizes the complex character of crypto research.

Given that the lower Bollinger Band is almost zero, the stage is prepared for a possible breakout as historically such circumstances usually precede significant price changes.

Squeezy, squeezy. About time for LTC to wake up.

— John Bollinger (@bbands) July 22, 2024

Snapshot Of The Current Markets

With a market capitalisation of $5.35 billion and a current trading price of $73.27 Litecoin ranks as the 21st biggest cryptocurrency by market valuation. Litecoin’s past shows a consistent performance, despite its recent slow down. Often referred to as the “silver” to Bitcoin’s “gold,” the cryptocurrency had already peaked on May 10, 2021 at $414.

LTC market cap currently at $5.4 billion. Chart: TradingView

Litecoin’s price has been much below its high in the current market environment, which offers investors a possible purchase chance. With short-term and long-term estimates showing significant increase, CoinCheckup’s newest study and forecast point to a positive picture.

Technical data and Bollinger’s professional analysis support this hope by implying that the altcoin could be about ready to climb from its present plateau.

Litecoin Price Forecast

Looking ahead, Litecoin has a quite bright future. LTC is expected to climb 11.73% over the next three months, according to CoinCheckup; this might create conditions for a more spectacular surge of 211.52% during the following six months. With an expected increase of 143% during the next year, the long-term projection is even more hopeful.

LTC seen climbing in price in the next week. Source: Coincheckup

This projection highlights the possibility for large returns, therefore presenting Litecoin as a good investment choice for anyone ready to negotiate the erratic bitcoin market. Litecoin could possibly be about to enter a new phase of expansion based on technical signs pointing to an impending spike and professional opinions supporting the prognosis.

Investors should approach with care and do extensive study as usual before deciding what to invest in. The market for cryptocurrencies is notorious for its volatility, hence even if Litecoin seems to have bright future potential, it is advisable to remain knowledgeable and strategic in any kind of investing strategy.

Featured image from Inc. Magazine, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.