Litecoin Price Prediction and Analysis: Creator, Charlie Lee has "A ton of good news...", LTC/USD going up! Sun, May 20
Bitcoin's influence on the market
Bitcoin dominance in the cryptocurrency market equals 37.1%. The BTC/USD price movement looks rather positive, which may suggest a short bullish market among most of the currencies. The price rose significantly from $8183 to $8372 and it looks like it may try to attack the $9000 mark in next week, which will also impact other cryptocurrencies.
Important Litecoin News
Charlie Lee, the creator of Litecoin has recently tweeted: „A ton of good news but price does its own thing. Remember that this is a marathon not a sprint. Build it and they will come. #PayWithLitecoin“
Litcoin listing on Gemini
The Gemini Bitcoin exchange was founded by Tyler and Cameron Winklevos. It's been recently announced that they are adding multiple privacy-oriented currencies. The problem with such currencies is that they provide help both for those in oppressed countries, privacy-focused individuals, but also to the criminals. The NYDFS has confirmed to Forbes that Gemini will also receive approvals for Bitcoin Cash, with a total market value of $25 billion and Litecoin, valued at $8.2 billion.
Mobile currency wallet Abra
Abra, founded by Bill Byrhadt has announced that the team is working on making cryptocurrency transactions free on their application and Litecoin will be one of them, which can increase the use for simple payments for the coins.
One of the users has written on twitter in response to the multiple small positive announcements and news: „We need an announcement from Charlie that he just purchased all his LTC back. This is the only way LTC will moon.“ He refers to the fact that the creator of Litecoin has sold all of his coins some time ago.
LTC Price Movement Analysis
Looking at the few day chart, the price is undoubtedly heading upwards. From the lows of $129 it reached even $137 within two days, with a few notable sudden price spikes. LTC/USD price rapidly grew from $132.72 to $136.84 within an hour only. The second sudden price raise was on May 19, when it got from $134.96 to $137.50 within hour. Litecoin is currently $136 and is going up.
Litecoin Price Chart (LTC/USD), May 20:
In the last ten days LTC was able to hit $160, therefore we may assume that the price is heading again in that direction and lots of small new features and announcements will definitely help reach even higher goals in the short-term.
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