LTC And BCH Rally With Impressive 15+% Price Increases

  • Multiple crypto analysts pointed out LTC’s and BCH’s price breakouts on twitter over the past few hours.
  • The analysts are convinced that LTC has finally entered its pre-halving rally.
  • LTC and BCH both saw their prices surge by more than 15% over the past 24 hours of trading.

Multiple crypto analysts pointed out Litecoin’s (LTC) and Bitcoin Cash’s (BCH) price breakouts on Twitter over the past few hours. This came after EDX Markets, which was launched last week, decided to let its traders—institutional investors only—start off with Bitcoin (BTC), Ethereum (ETH), LTC, and BCH.

Renowned trader, Michael van de Poppe, shared that LTC looked ready for its pre-halving rally in a tweet earlier today. The trader believed that both LTC and BCH had the potential to achieve 2X gains. 

Rekt Capital, another crypto analyst, agreed with this and expressed his own excitement about the fact that LTC’s pre-halving rally was underway in a separate tweet. Rekt Capital also shared his thoughts about BCH’s potential earlier this morning.

According to the analyst, BCH was able to reclaim an important support around $230.00 on its daily chart. As a result, the price of the crypto was able to climb above $300.

CoinMarketCap indicated that LTC was trading hands at $98.00 after it saw a 16.88% price increase over the past 24 hours of trading. This meant that LTC was trading on the heels of its daily high of $98.18 at press time.

LTC price (Source: CoinMarketCap)
LTC price (Source: CoinMarketCap)

LTC’s success throughout the past day allowed it to flip its weekly performance back into the green to +12.73%. Meanwhile, the altcoin’s 24-hour trading volume saw an increase of more than 140%, which left it standing at around $1 billion.

BCH price (Source: CoinMarketCap)
BCH price (Source: CoinMarketCap)

BCH’s 24-hour increase of more than 36% secured it the number 2 spot on CoinMarketCap’s trending list. Consequently, BCH was worth about $310.96 at press time. The crypto’s price surge also meant that its weekly performance was firmly set in the green zone at +118.61%.

Meanwhile, BCH’s market cap of $6,068,967,598 meant that it was ranked as the 14th biggest crypto in terms of market capitalization. This placed it right behind Polygon (MATIC) in the 13th position. Since reaching its all-time high of $4,355.62 in December of 2017, the price of BCH has slipped by more than 90% to trade at its current level.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Comments

Post a Comment

Popular posts from this blog

Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

Image
“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund said in a recent report. The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market , claim analysts from crypto research firm K33 — formerly Arcane Research.  In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets. The analysts explained while Bitcoin had all but given up its gains in the wake of Grayscale’s legal victory over the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin. Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research However, the downside of ...
Read more

Crypto Bias Blocks People from Seeing Coinbase as Goldman 2.0: Bitwise CEO

In a recent tweet, Hunter Horsley, CEO of Bitwise Asset Management, shared his frustration with the poor attention given to the US-based crypto, Coinbase, claiming that people are “sleeping” on the crypto business. Horsley argued that while big banks like Goldman Sachs attempt to avoid a “slow death” by investing in technology, APIs, and retail services, Coinbase has already achieved what many banks strive to attain. He points out that the exchange has an exceptional institutional team with 25% of the most significant hedge funds as clients, over 50% institutional volume, and a suite of first-class tech products. The Bitwise CEO also claimed that Coinbase co-invented the USDC payment rail, facilitating $2 trillion in transfers in 2022 Q4 alone. Rant — People are sleeping on Coinbase. Big banks like GS are working to avoid slow death by getting into technology, APIs (Apple deal), more retail services (Marcus), while grappling with the heft of legacy biz, rate exposure, ...
Read more

Komodo (KMD) Price Prediction 2023-2030: Will KMD Price Hit $ 0.7 Soon?

Image
Bullish Komodo (KMD) price prediction ranges from $0.4 to $0.7 Analysis suggests that the KMD price might reach above $0.68. The KMD bearish market price prediction for 2023 is $0.1775. What is Komodo (KMD)? Komodo is an open-source technology provider that provides the infrastructure and tools for the new decentralized financial system. With Komodo, anyone has the capability of launching a branded decentralized exchange, cross-protocol financial applications, and independent blockchains.   The project’s flagship end-user application is Komodo Wallet (formerly AtomicDEX). It is a non-custodial multi-coin wallet, crypto bridge, and DEX rolled into one app. Being compatible with 99% of cryptocurrencies, Komodo Wallet offers the widest cross-chain, cross-protocol trading support of any decentralized exchange. Komodo Wallet’s DEX feature is built using a peer-to-peer (P2P) atomic swap protocol with decentralized order books. Developers use ...
Read more