Litecoin Price Analysis: How High Will Halving Hype Push LTC? –

Litecoin Price Analysis: How High Will Halving Hype Push LTC? -

In approximately 179 days, Litecoin (LTC) will undergo a block-reward halving — cutting the coin reward for miners from 25 to 12.5 coins. With fundamental developments like confidential transactions reportedly in the works and the popular altcoin experiencing price-strength confirmation, how high will the impending halving hype push the price of the peer-to-peer cryptocurrency? 

[Disclaimer: The following article is not financial advice and should not be construed as such. Consult with a trained financial advisor before making any investment decisions. The author holds Litecoin (LTC) and Bitcoin (BTC).]

If you’re not accumulating Litecoin (LTC) right now, you might want to consider adding the altcoin to your portfolio.

On August 8, 2019, Litecoin will undergo a block-reward halving, which will reward miners with half of the current reward for successfully validating blocks.

The Bitcoin (BTC) block-reward halving typically garners all of the spotlights — and rightfully so. Such an event has historically impacted the price of the market-leading cryptocurrency in a positive fashion. Many experts are predicting that the next Bitcoin halving on May 24, 2020, will likewise trigger or spur on the next major bull run. With more people aware of this fact than ever before, it stands to reason that hype will build around Litecoin’s earlier block reward halving as we progress through the year.

litecoin price history

Litecoin (LTC) Daily Chart

Litecoin has successfully burst out of the 200-week simple moving average in astounding fashion following the announcement that confidential transactions are in the works for the so-called ‘silver to Bitcoin’s gold.’

With such a dramatic spike in volume and convincing push above the crucial moving average, it is within reason that Litecoin has officially entered a new bull market.

That said, Bitcoin and the rest of the cryptocurrency market are still firmly in the control of the bears — so assuming that Litecoin is officially out of the woods may not be particularly wise.

litecoin price

Daily Deals