A trader who has expertly ridden this year’s crypto turnaround is updating his view of the peer-to-peer payment network Litecoin (LTC).
Pseudonymous crypto strategist DonAlt tells his 486,900 Twitter followers that he believes the time is ticking for Litecoin to make a move.
According to the crypto analyst, Litecoin could quickly rise by more than 100% if it manages to break out of its current range.
“It’s back at $90.
Break this cursed level and we’ll get to $200 faster than you can imagine.
Get racks here again and LTC deserves to go to zero.
At the time of writing, Litecoin is trading at $91.40, up more than 2% in the past 24 hours.
While DonAlt sees huge upside potential for Litecoin, he has tells its 50,800 YouTube subscribers that the current market environment makes it difficult for LTC bulls to initiate a rally.
“I think a story is interesting because it has a story, but that story also has to play out pretty quickly. That’s the thing about that one Litecoin halving in (about) 70 days, and that’s pretty quick, meaning if you want to get a pump in the event or at least a little bit before that should happen pretty soon . , and the altcoin market is not really doing well…
That makes it an uphill battle to actually get something like this to play.
Litecoin’s halving is expected to take place on August 2 this year.
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Image generated: Midway through the journey
