"The great reward comes with a great reward" - I can not remember where I first heard this phrase, but basically sums up our Litecoin news for the day.
(Yes, I know that his original incarnation is "with great power is a great responsibility", but this version refers much more to my life).
In any case, the phrase came to mind as Litecoin's rate of progression to USD 6.3% at $ 56.14 by Wednesday.
At this level, you can imagine that Litecoin's price forecasts are obsolete. But once you put the gains in the correct context yesterday, it becomes clear that Litecoin still has a 61% upside potential.
You see, LTC prices were high in early September. Litecoin USD divides the previous registrations and finds a new level above $ 90.00 (61% more than the current price range).
No one expected a sudden political uprising in China to follow things, but that is exactly what happened. Prices began to dismantle as soon as rumors of a defeat came from China.
Uncertainty has reached the hearts and minds of investors.
What got worse was that Chinese regulators were operating in the shadows. They did not ban an official statement banning the exchange of cryptographic currency, nor did they deny the rumors. So it has become a daily board game.
Litecoin prices have dropped to $ 33.13 at one point, causing fear that death is just around the corner. But look, Litecoin is still standing. What has changed?
Well, the uncertainty disappears. We learned that the Chinese ban was real. We have learned that Litecoin will cease operations by the end of October. And we learned that China's fear of capital outflows is what caused the fall.
Trust has returned to the hearts and minds of investors. Now, that's the big question: where do Litecoin's prices come from?
Analyst Taking:
Our Litecoin price forecast indicates that LTC has returned to $ 90.00 in the short term and goes well beyond the long term future. Here is the reason.
Trading volumes should collapse as soon as China Litecoin has banned the Yuan trade, but this does not happen simply. About 220.36 million LTC chips changed hands yesterday.
Most of this trade took place in Korean and US trade and showed that geographical support creates roots. There is no reason why Litecoin should not exceed $ 90.00, which means that investors still have a 61% upside potential.