DonAlt analyst names a token that will outperform Bitcoin and Ethereum

A popular cryptocurrency analyst under the pseudonym DonAlt shared his predictions about the future of altcoins with his Twitter followers. While DonAlt was previously convinced of the rapid growth of major digital assets, the expert now expects Litecoin (LTC) to grow significantly.

«Do you remember when I said that Litecoin from $ 60 could reach $ 300 per token, and people laughed at me? Now LTC is trading for $ 100, so I expect further growth to $ 200,» DonAlt emphasized. According to the analyst, LTC $69.93 Litecoin -1.35% Market capitalization $5.25 billion VOL. 24 hours $23.12 million has every chance to rise more than the main cryptocurrencies in terms of percentage.

Over the past 24 hours, Litecoin grew by 2.7%, over 7 days — by 8.3%, and over the past 30 days — by 29.7%, which, according to the analyst, is a good indicator. Michael van de Poppe, founder of Eight, also believes in the token’s profitable future: «LTC is showing strength and is likely to continue to rise,» the expert emphasized.

As for the flagship cryptocurrency, DonAlt believes that the bull rally is not over yet, so investors should be on the lookout. Before it starts to fall, the value of BTC will increase even more. «As long as the BTC rate does not fall below $ 18,000 to $ 19,000, market participants will have no reason to worry,» the analyst shared his point of view in late January. However, in the near future, bitcoin will continue its upward trend, where the best level for profit-taking is around $ 32,000.

What is Litecoin? This is one of the first altcoins created, founded in 2011 by a former Google engineer, Charlie Lee. He sought to create a lighter version of Bitcoin that would allow for almost instant and inexpensive payments. Litecoin used the code and some of the features of bitcoin in its blockchain, but prioritized the speed of transaction confirmation. Because of its similarity to BTC, the Litecoin blockchain is used as a testbed for developers to experiment with technologies they want to implement in Bitcoin. Similar to BTC, it is deflationary in nature and halves every 840,000 blocks (approximately every 4 years). The next halving is expected in August 2023.