Peter Brandt: Now is the time to buy Litecoin and XRP

07 Jun, 2019
by Richard Allen
Peter Brandt: Now is the time to buy Litecoin and XRP

Peter Brandt, a well-known trader and author recently stated that a large buy signal was completed on the LTC/BTC pair. As such, Litecoin is expected to climb against Bitcoin. Additionally, XRP may reach highs of $0.5688 and $0.6260.

Litecoin is currently showing gains of over 10% and is the best performing top 10 currency. XRP comes in at second with gains of over 5%. Additionally, Litecoin’s halving is scheduled for August, which many in the community are seeing as a catalyst for a new bull run.

LTC/USD chart provided by Tradingview

With the upcoming halving set to reduce the asset’s supply rate from 25 LTC to 12.5 LTC, many investors are taking a page out of basic economic theory and seeing the reduced supply as a potential to drive up demand, making the asset more valuable. This may be one reason for the coin’s impressive price performance.

Additionally, Binance Research released a report recently which revealed that Litecoin had witnessed a hashrate increase of more than 150% over the last six months, with mining profitability increasing 125%. At the same time, Litecoin has gained over 380% against the US dollar from a low of $22.32.

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

BTC RETRACEMENT! This is what's next for Bitcoin! Subscribe to the Chepicap YouTube Channel for more videos!


How do you think the Litecoin halving will affect price?

(337 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage