Experts’ predictions about halving Bitcoin suggest that the price of the cryptocurrency can exceed $ 100,000 and that valuation may benefit other projects like Litecoin. An analysis published on Twitter predicts that after halving bitcoin in 2020, Altcoin will reach $ 3,000.
As the market expects Bitcoin to grow in value in the coming months, other cryptocurrencies are also tending to increase with the expected halving on May 8.
According to the Apple App Review profile that published the analysis on Twitter, Litecoin is one of those cryptocurrencies that, after halving, may trigger an appreciation wave from Bitcoin’s price hike.
The release examines the possibility of altcoin trading at $ 3,000 in a scenario where the bitcoin price reaches $ 100,000. Litecoin is called the “sleeping giant” and has the chance to break price records when Bitcoin halves.
Litecoin listed at $ 3,000 for Bitcoin halving
Bitcoin is halved in 18 days after the market has waited four years for the event to repeat. On that day, the bitcoin mining reward is halved, which can impact the entire cryptocurrency market.
One of the effects of the halving is the rise in the price of Bitcoin, and other cryptocurrencies could follow this wave of appreciation.
There are predictions that the price of Bitcoin will reach $ 100,000 after halving. According to this forecast, Litecoin’s price can be quoted at $ 3,000, according to the Apple App Review profile.
“Litecoin is the sleeping giant that is about to wake up. We could see that the price of Litecoin will reach $ 3,000 when Bitcoin rises to $ 100,000.”
The altcoin would “sleep” and wait to see an appreciation that could mean up to 6,900% price growth given the current Litecoin price, which is trading in the market for around $ 43.
The Twitter profile not only cites the $ 100,000 hypothesis, but also creates other elevated scenarios for the Litecoin price based on what Bitcoin can do with the cut in half.
For example, at $ 25,000, the price of Litecoin is typically $ 750, according to the social media comparison. On the other hand, Litecoin was trading at $ 375 at the time Bitcoin was the highest price on the market.
“In the last high market, followed by halving bitcoin, Litecoin cost $ 375.”
Litecoin will outperform Bitcoin in the 2020/2021 bull market and here’s why!
Bitcoin = $ 19,500 / Litecoin = $ 375
Bitcoin = $ 14,500 / Litecoin = $ 145
Bitcoin = $ 10,500 / Litecoin = $ 85
– AppleAppReview (@AppleAppReview_) April 20, 2020
Bitcoin can exceed $ 100,000
With the halving, numerous forecasts appear on the market that Bitcoin will grow soon. According to Cointelegraph, there is a chance that the price will rise to a million dollars.
For example, former Facebook manager Chamath Palihapitiya has the possibility that Bitcoin will be traded up to a million dollars in half. The expert explains that the probability that the cryptocurrency touches this number is 5 to 10 percent.
Another of these forecasts includes PlanB, which provides analysis of the cryptocurrency market on Twitter. This profile has made correct assumptions about the halves in 2012 and 2016 and assumes that the Bitcoin price will trade above $ 100,000 after the 2020 halving.
Bitcoin needs to establish this value in the Litecoin market to reach $ 3,000. Only then will the cryptocurrency be able to trade at that price.