Litecoin managed to consolidate 5% of its price over the course of just a couple of hours.
The pump happened probably weeks before the altcoin season begins after BTC is out of steam for the year.
But it seems like, in anticipation of the Bitcoin surge, people are diversifying into a more stable coin like LTC.
At the moment of writing this article, the price of LTC is at $127, to which it rose from $116 in under an hour today.
As already mentioned Litecoin is pumping weeks ahead of the altcoin season, which means that its consolidation during Bitcoin’s relinquishment of the market dominance is going to be on a completely different level.
Let’s not forget that the halving is just one month and a few days away and it’s about time that the pre-halving bullish run to begin.
According to 2015’s halving, the bullish sentiment should start at the beginning of July, probably next week and then it should rise gradually as we approach the last week of the seventh month.
Before a week of the Halving LTC is sure to rise more than 60%, and then gradually decrease as the coins are emitted in the network and the hype dies down.
Our prediction for LTC remains the same. It is still one of the best coins to go for currently.