Crypto Analyst Who Accurately Predicted 2018 Bitcoin Bottom Updates Outlook on Ethereum and Litecoin

A preferred crypto analyst who gave an correct forecast of Bitcoin’s (BTC) bear market backside in 2018 is sharing what he thinks is forward for Ethereum (ETH) and Litecoin (LTC).

Pseudonymous crypto dealer Good Contracter tells his 214,300 Twitter followers that BTC various Litecoin is breaking out of its accumulation part because the altcoin surges previous $77.32.

“LTC of all cash making an attempt to interrupt out of a somewhat massive accumulation. Of all issues I wasn’t anticipating LTC to be the one to do issues.”

Supply: Good Contracter/Twitter

The strategist says the value breakout is because of Litecoin’s upcoming halving occasion, which can reduce mining rewards for LTC in half and scale back the variety of tokens that get put into circulation.

Beforehand, he had mentioned that the token’s value sample is much like that of Bitcoin previous to the main crypto asset’s halving occasions.

“Statistically BTC tends to backside round 500 days earlier than halving so With that in thoughts this accumulation breakout [of] LTC begins to make sense contemplating this accumulation is already three months outdated and there’s solely 227 days till the LTC halving.”

Good Contracter says LTC might surge to across the $98 value degree. At time of writing, the altcoin is altering fingers for $77.95.

“LTC is displaying a stupendous acceptance ABOVE multi-month accumulation breakout, tremendously lowering the prospect of a fakeout imo [in my opinion]. We’re nonetheless a whopping 25% away from any respectable construction/resistance as properly.”

Supply: Good Contracter/Twitter

As for Ethereum, the analyst says he’s bullish on the main sensible contract platform because it was just lately capable of convincingly reverse course previous a diagonal resistance line.

“To date, so good assuming a variety right here on BTC and ETH.”

Supply: Good Contracter/Twitter

ETH is at present buying and selling for $1,200 at time of writing.

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