According to the fire currency network, LTC reached a maximum of 130.1 US dollars in the early hours of the morning, and rose nearly 10% in 24 hours, leading the main circulation certificate, setting the highest point in 12 months since late May 2018.
According to bitinfocharts.com, LTC's computing power also hit a record high, breaking through 400 Thash/s. Sichuan is the main mine in China and the industry as a whole, and this year due to weather, the flood season has been postponed. It is reported that 70% of the mining machines are idle. In this case, LTC's computing power continues to rise, indicating that LTC is in a steady growth in the short term.
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LTC has risen 480% so far from the bottom of December 2018, ranking only 660% of BNB in the top ten main circulation certificates. Recently, from the low of 97 US dollars on June 4 to the current increase of 30%, BTC is dwarfed, with a gain of only 6%. The exchange rate of LTC/BTC is 0.016, reaching the high point since April 15.
LTC currently ranks fourth in market capitalization, and its excellent performance is likely to be related to the halving of mining incentives after 2 months. It is estimated that by August 8, the mining award will be reduced from 25 LTCs per block to 12.5.
According to historical data from LTC's first production cut in August 2015 (from 50 LTC block awards to 25), LTC's price rose from 1.5 US dollars in May 2015 to 8.6 US dollars in July, and then gradually fell back. After halving, $3. That is to say, in 2015, LTC bottomed out in January, and started to halve the expected profit in May. It reached its peak in July and then began to fall back. When the real production was reduced, the price had dropped by 50%.
History does not simply repeat, but will hold the same rhyme. The halving probability will continue the last round of the inverted V-shaped trend of the first rise and then fall, but the magnitude and duration of the ups and downs are more difficult to predict. Compared with the last time, this rising market started significantly earlier, and the arrival of the highest turning point in the short term is a matter of concern to investors.
From the technical analysis, the moving average and the relative strength index RSI seem to be more conducive to multi-military: the 50-day moving average is above the 100-day moving average, the 100-day moving average is above the 200-day moving average, and the main moving averages are in an upward trend; the RSI breaks upwards. However, the value below 86 in the first week of May seems to indicate that there is still a lot of room for price increases.
In short, before the halving of the market turning point, LTC is testing the psychological barrier of 150 dollars, but if the market falls, then 150 dollars can not be reached.
The current price of LTC is 35% of the highest point in history, a drop of 65%, while BTC is 40% of the high point, a 60% drop, and still has great potential in the long run. For investors with LTC in hand, it is necessary to pay attention to the arrival of the inflection point in the past two months. For investors who have not yet laid out, they can wait for the reduction of the favorable interest and then consider it. When the bull market arrives, the LTC's gains are still expected!
Today, LTC rose 10% to break through 130 US dollars, leading the main circulation certificate, it is likely that the mining incentives are getting closer and closer. In the same way, BTC also has a solid bottom because of the near-half halving expectations. Yesterday, the 7500 mark was quickly pulled up to around 8000, and it was impossible to test. In the long run, the rising trend of BTC has not changed, and the short-term correction is still a good opportunity to increase positions.
In December 2018, we clearly pointed out BNB's investment opportunities in the bear market, and the first to propose that the BNB in the bull market will enjoy Davis double-click ( hedging: the platform pass the bear market profit key – the certificate valuation series) 2 ) In October 2018, we will point out the BTC price cycle and predict the bottoming time to be around May 2019. (The classic update reproduces the three laws and applications of the BTC Bull and Bear cycle – Freezing Point Outlook A ); In April 2018, when the remaining temperature of the bull market had not been exhausted, we indicated that it was a rebound rather than a bull market (whether the bull market is coming? It is the four reasons for the rebound rather than the bull market ).
BTC conducted the third pin 7500 mark this month yesterday, and quickly rebounded to the bottom. It has not been able to successfully break the position. Today, the LTC rose by 10% to stimulate a slight increase. The MACD shifts from a downward trend to a parallel trend, and the amount can be increased. The support level is 7500 and the pressure level is 8020.
ETH linkage BTC, current support level 226, pressure level 248.
EOS linkage BTC, the current support level is 5.9, and the pressure level is 6.5.
The price of digital pass is fluctuating violently. Investment digital pass is a high-risk investment behavior. Investors should reasonably assess their investment ability and risk tolerance, use leverage carefully, strictly control risks, and invest carefully. Investors are advised to keep in mind that investments are risky and require caution when entering the market.
Personal opinions are for reference only. The analysis in the text does not constitute a recommendation for trading, and the profit and loss is self-sufficient. Welcome to reprint, but need to indicate the source.