Crypto analyst Hal has revealed how investors can make up to $1 million investing in Litecoins. This is because another analyst has predicted that LTC could soon break out of the current consolidation phase to reach a four-figure price target.
How Litecoin can turn a $3,700 investment into $1 million
In one X messageHal stated that investors can make $1 million from around $3,700 if they bid on Litecoin in the low $30 range and sell when the altcoin reaches $9,000. The analyst is confident the LTC price could still fall to around this level, giving investors another chance to follow this investment advice.
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He noted that Litecoin never saw the fifth wave down in the corrective move of Wave C, which he said means the altcoin will still fall below $41. Hal’s accompanying card showed that too LTC could still drop to $30, before the next parabolic rally to the upside. The analyst noted that the altcoin could fall below the expected $30 range, but this seems unlikely.
Meanwhile, Hal stated that Litecoin is the “clearest and most confident” 250x to 300x play he sees on the market. He added that he has been waiting for this latest drop to $30 for a long time and that it will happen soon. He urged investors not to miss this as he expects they could make millions from their LTC investment.
Hal’s prediction comes during the launch of the first spot Litecoin ETF from Canary capital. This is expected to attract institutional inflows into the LTC ecosystem, which could be positive for the altcoin’s price. However, the LTC has not had the best start and is currently lagging behind the Solana and Hedera ETFs in terms of inflows, which have also just launched.
Why LTC could easily record this parabolic rally
Hal noted that Litecoin has one of the longest, oldest, and largest accumulation channels in existence among altcoins against its Bitcoin pair. He revealed that the LTC/BTC chart appears similar to the DOGE/BTC chart just before the Dogecoin price broke out and did a 663x in the 2021 bull cycle. This is why the analyst is confident that LTC’s price can post a 300x gain from the next low when it reaches the top of the next altcoin run.
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Meanwhile, crypto analyst CoinsKid mentioned that Litecoin has been in consolidation mode since the 2018 cycle top. He added that compression leads to expansion and predicts that LTC could reach $4,000 if it breaks the upper resistance just above $200. CoinsKid noted that this would make LTC just shy Ethereum’s market capitalization.
At the time of writing, the Litecoin price is trading around $96, up almost 2% in the past 24 hours, according to facts from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com