Litecoin (LTC) surpassed Bitcoin Cash (BCH) in phrases of market capitalization. The now sixth largest cryptocurrency on the planet surged by over 19% within the last hours. This allowed Litecoin to carry out the so-called “Flappening” with Bitcoin Cash. The next target could be to surpass Chainlink (LINK) as the fifth most precious cryptocurrency on the planet.
Litecoin Flappening: LTC Surpasses BCH
The Litecoin flappening has already occurred. LTC was in a position to get the sixth position within the cryptocurrency market after outperforming Bitcoin Cash within the last few hours. In this fashion, LTC was in a position to attain a market cap of $4.85 billion and a price per coin of $73.60.
Although many take into account the Flappening has already occurred, the next target will probably be to get the fifth position. Now, Chainlink is ready with a market valuation of round $5.05 billion.
The charts look very positive for Litecoin. Some analysts consider that it might be potential for LTC to attain a price of $4,000 and even higher. LTC is now breaking out from a 3-year bear pattern. If historical past repeats itself it might be potential for LTC to attain new highs in 2021.
Litecoin Shows The Way (LTC)
Long or brief it with BTC on Trade8: https://t.co/SoMnhzNVo5 pic.twitter.com/h6N4Z20JF0
— Crypto Chief (@ElCryptoChief) November 15, 2020
In phrases of BTC, Litecoin is now also recovering half of the losses skilled in recent years. However, it will likely be troublesome for it to proceed transferring higher. Indeed, the LTC/BTC buying and selling pair remains at 0.00445 BTC one of the bottom costs for LTC in years.
Litecoin is predicted to proceed rising if Bitcoin keeps in its bull pattern. During a dialog with , Konstantin Anissimov, Executive Director at CEX.IO, said that it appears that evidently both Bitcoin and Ethereum (ETH), might proceed transferring higher from a technical perspective. As he talked about, we might even see these digital currencies proceed rising within the coming weeks.
On the matter, Mr. Anissimov acknowledged:
“The Tom Demark (TD) Sequential indicator suggests that these cryptocurrencies may continue to rise for another two to three weeks before a sell signal emerges. If this is the case, Bitcoin could rise to $19,000, while Ethereum breaches the $500 mark.”
This may very well be bullish for Litecoin within the coming weeks as effectively. The major query could be to perceive whether or not Litecoin will probably be in a position to leave the bear market in opposition to Bitcoin. If that occurs, very positive issues might come to Litecoin holders and long time period traders.