Litecoin Gains 65% To Officially Start 2020 Bull Run

The cryptocurrency known as Litecoin gains 65% on the day and proves that the bullish momentum for it is officially here – triggering a massive bull run on the markets. The fact that LTC gains echo starts the bull run and is viral in the cryptocurrency news today.

For those of you who don’t know, LTC hit $70 for the first time since September 2019 and fueled the speculation that it will also induce a Bitcoin (BTC) bull run. According to data online, LTC/USD is passing the notable $70 barrier on February 1 and is going on to claim local highs of $71 and $72.

As with a lot of other major altcoins, this achievement caps a highly successful month for the cryptocurrency which was trading at just $43 on January 1 this year. The Litecoin gains are now massive, showing that LTC is one of the top performing crypto assets this year.

Twitter experts and analysts also jumped in and said that the cryptocurrency has put in a strong performance which resembles the one of March last year. Then, LTC gave way to Bitcoin after doubling its price for a month, and BTC initiated a three-month bull-run culminating in a 19-month record of $13,800.

While analyzing the current sentiment, Loma and others now truly see the potential for this pattern to repeat itself. The analyst Michael Flaum claims that “Litecoin leads Bitcoin” now.

“Litecoin up 5.8% Don’t know why, but it’s a common trend. $10k bitcoin very possible,” he said.

As we previously reported, a lot of trading sources have flipped bullish as Litecoin gains 65% and are optimistic to see what the new month brings ahead. Meanwhile, the Bitcoin news now show that the cryptocurrency is safe above $9,300 in a massive two week run which took it out of the $6,000 range.

A return to the high zones is very likely according to analysts. Two crypto Youtubers have the same sense of anticipation, noting that at the current levels, the BTC and Litecoin forecast 2020 is very optimistic.

If you are not sure how much will Litecoin be worth in 2020 but know that there is a strong momentum behind the altcoin, you should definitely invest in it as much as you are willing to take out.