In less than 10 days, LTC may see a 73% waterfall drop

After the bear market in 2018, no one would doubt that the Litecoin halving is a positive factor that stimulated the market rebound in 2019. Influenced by the positive impact of the halving, more and more speculators have joined in, further strengthening the bullish sentiment around Litecoin. Many investors are buying a large amount of Litecoin in anticipation of a halving increase.

With less than 60 days to go until the Litecoin halving date, investors who bought Litecoin at the bottom of last December have already reaped a return of nearly 600%, however, Litecoin’s strong rally may soon end. One crypto analyst believes that Litecoin’s price still has room to rise, but has issued a warning of a fall, which could soon see a 73% plunge.

LTC/BTC ratio may reach a peak of 0.034, LTC hits a new high?

Litecoin has led the rise of the crypto market many times in 2019. Before its halving, most of the crypto community believed that the digital silver corresponding to Bitcoin's digital gold could be said to be a "brainless" investment, and you would make money if you bought it.

In PoW blockchains such as Bitcoin and Litecoin, each halving reduces the block reward miners receive for validating block transactions. After the halving in August this year, the number of rewards received by LTC miners will be reduced from 25 LTC to 12.5 LTC.

Investors believe that a sudden shift in the balance of supply and demand will lead to a price increase, which usually occurs before the halving. Currently, the LTC/USD trading pair is close to $140. If you bought it at $20 during the bear market low, the return rate has now reached an astonishing 600%.

A well-known crypto analyst believes that the LTC/BTC price ratio will reach a maximum of 0.34 in the LTC/BTC trading pair.

That is, if the price of Bitcoin remains around $8,000, the price of Litecoin would be around $270. If Bitcoin and Litecoin climb together, Litecoin could set a new all-time high based on the ratio.

Only 10 days left for LTC to rise, after which it will plummet 73%?!

If the price rally leading up to the halving is already here, as many crypto investors believe, the risk is now significantly increased as early buyers will start selling, which will hinder further price gains and lead to a strong correction.

The crypto analyst has very high price targets for LTC/USD and LTC/BTC, and his predictions have not deviated significantly so far, believing that LTC’s rally has less than 10 days left before the drop comes.

According to the 2015 LTC halving, LTC rose sharply in the days leading up to the halving, doubling its value relative to Bitcoin. After buyers began to sell, the price fell by 73%, and late investors suffered a "cut leeks".

In the 2015 halving, the price drop occurred 45 days before the halving. Now, there are less than 55 days left. In other words, within 10 days, we may usher in a new all-time high, or we may start to fall at any time.