A popular crypto analyst who gave an accurate forecast of Bitcoin’s (BTC) bear market bottom in 2018 is sharing what he thinks is ahead for Ethereum (ETH) and Litecoin (LTC).
Pseudonymous crypto trader Smart Contracter tells his 214,300 Twitter followers that BTC alternative Litecoin is breaking out of its accumulation phase as the altcoin surges past $77.32.
“LTC of all coins trying to break out of a rather large accumulation. Of all things I wasn’t expecting LTC to be the one to do things.”
Source: Smart Contracter/Twitter
The strategist says the price breakout is due to Litecoin’s upcoming halving event, which will cut mining rewards for LTC in half and reduce the number of tokens that get put into circulation.
Previously, he had said that the token’s price pattern is similar to that of Bitcoin prior to the leading crypto asset’s halving events.
“Statistically BTC tends to bottom around 500 days before halving so With that in mind this accumulation breakout [of] L
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