Crypto analyst Hal revealed how investors can earn up to $1 million by investing in Litecoin. This comes amid another analyst’s prediction that LTC could soon emerge from its current consolidation phase and reach a four-digit price target.
How Litecoin can turn a $3,700 investment into a million dollars
In Post XHal stated that investors can make $1 million from around $3,700 if they bid Litecoin an amount of $30 and sell when the altcoin reaches $9,000. The analyst is sure of it LTC price it could still fall to around this level, providing investors with another opportunity to take advantage of this investment advice.
He noted that Litecoin never experienced a fifth wave of decline in the Wave C corrective move, which he believes means the altcoin will still fall below $41. This was also shown in the attached Hala table LTC may fall further to just $30 before another parabolic rally higher. The analyst noted that the altcoin could fall below the forecast $30 range, but that seems unlikely.
Meanwhile, Hal stated that Litecoin is the “purest and most reliable” 250-300x play he sees on the market. He added that he had been waiting for this latest drop to $30 for a long time and that it would happen soon. He urged investors not to miss it, given his predictions that they could make millions from investing in LTC.
Hal’s prophecy appears when the first one is released Litecoin spot ETF by Canary Capital. This is expected to attract institutional inflows into the LTC ecosystem, which could have a positive impact on the altcoin’s price. However, LTC has not had the best start and is currently lagging behind the Solana and Hedera ETFs, which have also just launched, in terms of inflows.
Why LTC could have easily captured this parabolic rally
Hal noted that Litecoin has one of the longest, oldest and largest accumulation channels existing among altcoins relative to the Bitcoin pair. He revealed that the LTC/BTC chart looks similar to the DOGE/BTC chart just before Dogecoin price broke out and reached 663x in the bull cycle of 2021. Therefore, the analyst is confident that the LTC price can see a 300x enhance from the next low when it reaches the top of the next altcoin run.
Meanwhile, a cryptocurrency analyst CoinsKid stated that Litecoin has been in consolidation mode since the peak of the cycle in 2018. He added that compression is leading to expansion, predicting that LTC could reach $4,000 if it breaks above resistance just above $200. CoinsKid noted that this would make LTC just timid Ethereum market capitalization.
At the time of writing, Litecoin is trading at around $96, up almost 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
