Home Litecoin 3 Mega Bullish Triggers That Can Set the Cryptocurrency Market on Fire

3 Mega Bullish Triggers That Can Set the Cryptocurrency Market on Fire

7 min read


07/06/2019 11:03

EST. Journalist:

By CCN: In investing, there’s a saying that goes, “a rising tide lifts all boats.” This adage rings true even in the cryptocurrency world as a result of when one token turns into bullish, it’s probably that different altcoins flip bullish as properly. The bullish sentiment tends to get extra infectious as extra individuals hop on the bandwagon. In addition to that, earnings have a tendency to maneuver from one cryptocurrency to the subsequent. We’ve seen this occur early this yr with the sensible cash pumping the massive caps first, then the mid caps, and the small caps final.

With this maxim in thoughts, you possibly can exponentially develop your capital by merely anticipating occasions that may catapult one cryptocurrency. Here are the mega bullish occasions that may set the cryptocurrency market on hearth.

Litecoin Halving – August 6, 2019

The Litecoin halving is certainly one of the most anticipated bullish occasions of 2019. On August sixth, block rewards will decrease from 25 to 12.5 coins. The anticipation has reached fever pitch ranges as Litecoin is up by over 283 % year-to-date.

Litecoin has been on a tear this yr as buyers anticipate the halving occasion in August | Source: TradingView

Even although Litecoin is up by greater than thrice its worth when it opened the yr, we imagine that there’s room for extra development. The cryptocurrency will likely soar to $220 earlier than the halving as retail merchants expertise the worry of lacking out (FOMO). When the sensible cash begins to dump their positions on FOMO’ing retail merchants, they’ll probably rotate earnings to different cash. The rotation can ignite a mini bull run.

Ethereum Transition to Proof-of-Stake – 2019 (Estimate)

Ethereum’s change from Proof-of-Work (POW) to Proof-of-Stake (POS) is one other occasion that may spark a mini bull run. Before the implementation of the POS, miners who need to turn out to be validators in the new decentralized system should accumulate tons of Ethereum. Keep in thoughts, the rewards that validators get rely on their stake. For occasion, if the validator owns 1 % of the coin as their stake, they get one % of the rewards.

Estimated time to transition to POS | Source: MangoResearch

The bullishness of this occasion is magnified if you perceive that every validator should personal at the very least 1,500 ETH to participate (~$373,500). This can begin an Ethereum arms race that may push costs as much as FOMO ranges. When this occurs, the sensible cash who longed early will dump their positions and transfer their earnings to different cash.

Ripple’s Interledger Protocol (ILP) – 2020 (Estimate)

Ripple is ready to take over the cross-border funds system and spark widespread crypto adoption with the Interledger Protocol (ILP). The ILP is a decentralized software that enables customers to buy any forex, whether or not fiat or crypto, and switch it to any blockchain or fee system.

An illustration of how the ILP works | Source: Medium

The system is estimated to go live in 2020. With this technique, individuals can buy cryptocurrencies utilizing their fiat forex while not having to login to a centralized change. More importantly, customers can commerce cryptocurrencies amongst themselves with no third-party service supplier to facilitate the course of.

The implementation of the ILP is bullish. That’s as a result of the app considerably reduces the diploma of problem to buy and switch cryptocurrencies. More importantly, it could possibly ignite widespread adoption. Digital cash wouldn’t solely be used for investments/hypothesis but in addition in day-to-day actions equivalent to cross-border transactions and service provider funds.

Bottom Line

A mega bullish occasion for one cryptocurrency will be useful to all cryptocurrencies. The occasion is not going to solely entice new market members however it is going to additionally enhance the worth of different cash as capital is rotated from one crypto token to the subsequent. More importantly, there are specific developments that may assist spark adoption. The extra individuals shopping for cryptocurrencies, the higher for rising costs.

Disclaimer: The above shouldn’t be taken as funding recommendation.

Disclaimer: The views expressed in the article are solely these of the creator and don’t signify these of, nor ought to they be attributed to, CCN Markets.

This put up was final modified (EST) on 07/06/2019 14:53

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