Google Trends May Help Crypto Traders Spot Pre-Halving Litecoin Rally “Top”

Litecoin price has been the talk of the crypto world in recent days, as the cryptocurrency has recently grow significantly in value relative to its Bitcoin older brother, and brought investors over 600% returns before the current pullback. It’s help spark increased interest in the digital asset, which has caused its use as a search term to grow on Google Trends.

That spike on Google Trends, according to one crypto analyst, suggests that the pre-halving pump Litecoin has experienced may not be over, as past halvings have caused such enormous spikes in Google Trends, that the “top” of the rally can easily be predicted. The same analyst claims that because the search term being used as a trading indicator hasn’t yet peaked, suggesting that the Litecoin rally still has a few legs left.

Can Google Trends Help Litecoin Traders Secure Profits At the Top?

The closer we get to Litecoin’s halving this coming August, the higher the likelihood that Litecoin’s recent rally is nearing completion. But also the closer we get, the more bullish the market becomes as investors see such enormous gains being brought by the digital silver equivalent. The two things will soon collide, and could result in as much as a 73% panic drop amidst a post-halving selloff.

Related Reading | Crypto Trader Expects LTC/BTC Ratio to Hit 0.034 In Pre-Halving Spike

For now, though, the rally is far from over, according to a crypto analyst focusing on Litecoin analysis. The analyst has discovered a massive spike in Google Trends interest in Litecoin, that coincided perfectly with the top of the previous pre-halving Lietcoin price rally back in 2015.

With Litecoin’s halving less than two months away, investors who keep their eyes peeled on the Google Trends charts for Litecoin could be tipped off with the most accurate sell signal yet.

What to Expect from Litecoin Halving Selloff Event

Each halving decreases the block reward miners receive for confirming transactions on the network. In roughly 53 days, the LTC reward – currently 25 LTC – is halved to just 12.5 LTC.

This throws off the balance of supply and demand across the market, which in the past has led to massive Litecoin price surges. The price surges are often front run by investors anticipating such an increase – and can currently be seen playing out across the market.

Related Reading | 10 Days Left of Litecoin Price Pump, Secure Profits Ahead of 73% Drop

Since Litecoin and the cryptocurrency asset class as a whole is still so young, there isn’t much historic data to go on to try and glean information from. The market cycle that most closely resembles the current one, is the the bear to bull transition from 2015 to 2016. During this time, Litecoin also led the market and soared to highs ahead of the halving.

If history repeats itself, Litecoin holders can expect as large as a violent, 73% drop, erasing much of the rally and leaving investors late to secure profits inching closer to being in the red. Those who do capitalize will have made one of the best trades the crypto market offered for an opportunity since the last bull market – and could be a sign of what’s to come for the rest of the space in the coming months.

The post Google Trends May Help Crypto Traders Spot Pre-Halving Litecoin Rally “Top” appeared first on NewsBTC.

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