Bitcoin has been going through some turbulent value motion over the previous a number of days and weeks, which has led cryptocurrencies like Litecoin to determine extensive buying and selling vary. This volatility, nevertheless, has been usually constructive, as most cryptos – together with LTC – are buying and selling up from their month-to-month lows.

Analysts are actually predicting considerably additional upside for Litecoin within the near-term, with one outstanding crypto analyst noting that LTC might surge as a lot as 80% towards its BTC buying and selling pair within the coming weeks and months.

Litecoin Inches Higher Despite Bitcoin’s Recent Bearishness

At the time of writing, Litecoin is buying and selling up over 2% at its current price of $61.00, which marks a slight climb from its day by day lows of $59.00.

While zooming out and LTC’s one-month efficiency, it grows clear that its latest volatility has favored the cryptocurrency’s bulls, as it’s at the moment buying and selling up considerably from its 30-day lows of underneath $50 that have been set in late-October.

LTC’s latest rise from its month-to-month lows seems to be largely influenced by Bitcoin’s large surge that took place in late-October after the Chinese President provided bullish remarks on blockchain expertise.

Mitoshi Kaku, a preferred cryptocurrency analyst on Twitter, defined in a latest tweet that he believes LTC could also be getting into a pivoting level that leads it to climb considerably increased within the near-term, which signifies that its ongoing surge may be getting began.

“$LTC Leaving ‘pivot week’ behind. I think I might hold onto this one for a little bit,” he stated whereas pointing to the beneath chart.

Could LTC Be Positioned For an 80% Surge?

Galaxy, one other fashionable cryptocurrency analyst on Twitter, not too long ago echoed Kaku’s bullish sentiment, explaining that he believes Litecoin might surge as a lot as 80% towards its Bitcoin buying and selling pair within the coming a number of months.

“New fav: $LTC. The day when everybody starts to love it again might be sooner than we think,” he stated whereas pointing to the chart seen beneath.

In the near-term, Litecoin might even see some additional upside regardless of Bitcoin’s bout of bearish buying and selling, however within the long-term it’s showing to be more and more doubtless that LTC will put up considerably additional positive factors towards BTC.

Featured picture from Shutterstock.


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