Today, the cryptocurrency market is in a sideways trend. Admittedly, Bitcoin and Ether have started to slowly rise on the chart, but they have not yet broken through their ATHs. However, analysts are wondering which altcoin will be the next to surprise investors. Will it be Litecoin (LTC)? According to Peter Brandt, the former "silver of the internet" may soon start to rise sharply in price. Peter Brandt is a trader with over 40 years of experience. Peter Brandt: Litecoin could get heavily overpriced The legendary trader stated on Twitter that LTC has just formed an inverse head-and-shoulders formation on the chart. Recall that this is a classic price structure, which, as a rule, ends with a trend reversal. Thus, in practice, it announces the end of the downtrend. According to Bandt, the current situation on the chart can make LTC more expensive up to $247. However, he also warns that patterns like the head and shoulders can always "fail" and simply "turn into" something else. As he added, the current pattern would be invalidated if the price falls below the $180 level. Litecoin is currently trading at $198 on the Binance exchange. This means that the cryptocurrency has become more expensive by 1.3 percent on a daily basis and about 7 percent in 7 days. Charlie Lee criticizes hype for NFT tokens Last week, Litecoin creator Charlie Lee addressed the excitement surrounding non-convertible tokens (NFTs) while questioning their value. He stressed that "part of the value of owning a collector's item is the prestige of being able to say I'm the only one who owns it and can show it off." With tokens, that value is one reduced to a minimum. Earlier, Lee also compared the NFT fad to the ICO bubble that occurred in 2017. You can always check the current exchange rate of bitcoin and other cryptocurrencies in the tabs: bitcoin exchange rate and cryptocurrency exchange rate at bitcoin.co.uk. A place where you can buy BTC and other cryptocurrencies includes the BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags ETH btc exchange rate ltc exchange rate litecoin ltc NFT Peter Brandt
No comments:
Post a Comment