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Litecoin Surges 21%, Analyst Says $LTC Could Hit $1000 in Current Bull Market


www.cryptoglobe.com 25 May 2021 09:13, UTC
Reading time: ~2 m

Recently, popular pseudo-anonymous crypto analyst and influencer “Coin Bureau” (“@coinbureau” on Twitter) talked about “one of the oldest serving alt coins on the market.”

In a YouTube video (titled: “Litecoin: Is LTC Seriously Underrated? My Take!!”) released on May 18, he explained what Litecoin is, how it works, Litecoin’s upcoming privacy support, analysed $LTC’s price action, talked about $LTC’s price potential, discussed Litecoin’s pros and cons, looked at Litecoin’s roadmap, and presented his overall view of Litecoin.

Here are a few highlights of comments Coin Bureau made in this video:

  • Flare Networks recently it would be airdropping its Spark token to LTC holders.

Flare foundation token allocation will be reduced so that 5 Billion FLR can be distributed to LTC participants. Full details to come next week. /2 of 2

— Flare (@FlareNetworks) January 8, 2021
  • In addition to retail investors, LTC has also seen its fair share of institutional interest over the last few months. Most of this money has come through Grayscale’s Litecoin Trust, which apparently bought up 80% of all the LTC mined in February.
  • If you’re wondering how how high LTC could go, well, this really depends on LTC. If BTC pulls a 2X or 3X, I reckon we would eventually see a similar move for most large-cap alts, including LTC… I could see LTC hitting $1000 by the end of this bull market.
  • I predict that we will see many more bullish announcements about Litecoin in the coming months, and these will continue to carry LTC to new all-time highs.
  • On paper, Litecoin is one of the best cryptocurrencies on the market.

According to data by CryptoCompare, currently (as of 04:42 UTC on May 25), Litecoin is trading around $181.38, up over 21% in the past 24-hur period.

Source: CryptoCompare

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Photo by “EivindPedersen” via Pixabay


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