One man has boldly predicted that Litecoin will reach $1,000 in just six days, which is a very bold prediction by the youtuber.
In a video hosted by Marius, he even suggested that if Litecoin continued to perform how it has been, it could even make huge stocks like, Apple, Microsoft and Facebook small in comparison. He also predicts that cryptocurrencies are on the up for good. People are becoming more educated and trusting of them, and he sees no reason why this should change.
In order to make his bold predictions of Litecoin hitting $1,000 in just 6 days; he has looked back at how Litecoin has performed since the very beginning. He as noted that there have been periods of huge gains, we are talking of over 200% that took place over a course of 6 days, and feels that we are long overdue one. He describes these gains as hyperbolic moves. He talks through his predictions, saying;
“We believe that between now and the 20th May is something that we need to carefully have a look at…I’m very cautious to give you a time frame everything in the cryptocurrency market”
Whilst he does not offer any exacts dates as to when he thinks this could happen, adding that it still could go up and down for a while, he does stress that he believes this rise up to $1,000 per Litecoin will be happening in the not too distant future.
Whilst he is very quick to stress that he is not offering any kind of technical analysis in his video, he does look at the patterns that have been formed with Litecoin’s value, and how this has led him to predict the generous figure of $20,000 in just 4 or 5 years. Looking at the pattern of rises and falls, Litecoin has repeatedly seen gains, which is why he stresses the importance of being patient when it comes to the virtual currency.
He ends by highlighting that when Bitcoin rises in value, Litecoin does as well, but it if Litecoin can break out of Bitcoins gain, you know that it is on to a winner.
Take a look at the video here: Source