Surely recently, when you search for information on Twitter, you are all exposed to the news of the upcoming LTC halving event.
So, what is to expect at the upcoming LTC halving event?
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Litecoin
Litecoin is one of the oldest coins of the Crypto market.
Like Bitcoin, Litecoin was born with the aim of creating a payment network and overcoming the weaknesses that Bitcoin suffers.
Litecoin halving
The maximum supply of Litecoin is capped at 84M $LTC.
Similar to BTC Halving, LTC Halving is an event where the reward for each block in the Litecoin network mined will be halved. Currently 12.5 $LTC and after this event, there would be only 6.25 $LTC.
This halving event happens every 4 years.
Price Cycle of $LTC
$LTC usually tends to be bullish and peaks about a month and a half before the halving.
The first halving on August 25, 2015
Before the halving, $LTC saw a 500% increase from $1.43 and peaked at $8.78 within 51 days.
After 46 days, the price of $LTC plummeted 62% and reached the price of $3 on the day of the halving.
The whole process of making the top and bottom of $LTC is 97 days ~ 3 months.
Second halving 5/8/2019
Before the halving, $LTC saw a 118% increase from $66 and peaked at $145 in 53 days.
After 44 days, the price of $LTC fell 34%, reaching a price of $92 on the day of the halving.
The whole process of making tops and bottoms of $LTC is also 97 days.
The third halving (estimated August 3, 2023)
Currently, we are 72 days away from halving.
If history repeats itself, we are in the bullish run for $LTC before the halving.
Considering the last bottom of $LTC, we have 5/9/2023 when $LTC is trading at $77. Currently, $LTC is at $92 ~ 18% growth.
In terms of time, $LTC tends to peak about a month and a half before the halving, which leaves us speculating that the top of LTC will fall somewhere in the third week of June ~ Jun 19 – Jun 25, 2023.
Do you think history repeats itself with $LTC? And what is the price that $LTC will reach during this halving?
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