Litecoin halving is only a day away and the Litecoin Foundation is getting ready for the big event. One significant mark that was expected as the halving approaches is a significant rise in the price of LTC, the organization’s native token. Although it has seen some price gains in the past which was attributed to the coming halving.
However, the tables have turned and with few days to go, LTC is in the red even though some altcoins are glowing. If anything, the cryptocurrency is expected to be glowing in green by this time but something seems wrong and cryptocurrency trader and analyst Josh Rager Weighs in on the situation, comparing LTC and LINK as potential investments.
Link, A Better Investment?
Rager opined that both LTC and LINK have a huge fan base, but LINK seems to be a better investment at this time regardless of Litecoin’s approaching halving. He said LTC has been in a downtrend and that is not likely to change soon as it has not been able to hold support against BTC. LINK, on the other hand, has been making some impressive moves and has shown plausible response at support, he added.
LINK is currently enjoying a gain of 22.11% in the last 24 hours and 18.86% against BTC while holding 20.36% against ETH. LTC, on the other hand, has lost 3.36% in the last 24 hours and 4.7% against BTC and the crypto community seems to share Rager’s sentiments on the two. One of the respondents to his Twitter post on the two cryptocurrencies @ShineThatLite wrote:
“Based on speculation and serious partnerships #Link should be worth more than Litecoin right now in my opinion if Google acquires Link game over !”
Chainlink In 2019
Chainlink has been one of the top-performing cryptocurrencies since June 2019. At the end of June, it rose to its yearly peak of $4.26. Although it later declined sharply to the $2 price level, it is now on the rise again, currently trading at $2.58. With the level of support that it is getting from the crypto community and potential investors, it may soon be going back to its yearly high again.
As the halving for Litecoin approaches, there may also be hope for LTC, if not before then after the halving is done. However, for now, the odds appear to be against the 4th largest cryptocurrency and there is no telling if things will eventually get better as the market can be quite unpredictable.