Litecoin (LTC)’s Price Could Double Ahead Of The Halving Event
The whole Litecoin community has been really excited due to the various predictions that have been circulating about the coin’s price ahead of its halving.
You may already know that just like Bitcoin, Litecoin also has its halvening events and it also has block reductions as well.
Over a period of four years, that amount of LTC issued per block typically halves during the event. This process is reportedly called the “formal reduction in supply inflation.”
LTC price prediction ahead of halvening
Smartereum mentions crypto analyst Financial Survivalism who said that LTC’s price still has enough room to grow.
They pointed to the fact that back in 2015 LTC’s price rallied a lot against the price of BTC before the halvening event.
The coin had then found a parabolic peak following the event. LTC eventually sold off against the BTC price, and it fell after BTC’s own halvening event.
The online publication mentioned above notes that if history were to repeat itself, the LTC rally could become $250 by the time Litecoin halving occurs.
At the moment, LTC is trading in the red and it’s priced at $116.65 on CoinMarketCap.
Other LTC predictions – now is the time to invest in the coin
Not too long ago, we reported that Peter Brandt stated that a large buy signal had been recently completed by the pair LTC/BTC and Litecoin is reportedly expected to grow against BTC.
More than that, CCN recently reported that LTC is poised to reach $220.
According to the price prediction, the price of this digital asset will surge to $220 due to the highly anticipated halving event.
The event means that the block reward miners will get reduced to 12.2 from 25.
Smartereum highlighted that “The Litecoin halving will lead to reduced inflation, the anticipation of a price increase after the halving from investors, and increased buying pressure which amounts to a surge in price.”
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.