Time To Buy Litecoin Is Now – But Don‘t Hold It For Too Long

2023-7-4 17:23

Litecoin (LTC), a leading cryptocurrency, has shown a significant price increase in the past, particularly around its halving events. Historical data suggests that LTC’s price tends to rally a few weeks prior to its halving and fall even more quickly after the event. This pattern has been observed during the last two halving events, where LTC price rallied ahead of halving and fell significantly immediately after. However, after a period of consolidation, LTC price tends to rally again.

19.

Overall, here is a list of all key $LTC Halving Principles:

• #LTC rallies Pre-Halving

• Local top months Pre-Halving

• Strong retrace after local top

• Post-Halving consolidation in Accumulation Range

• Strong Post-Halving rally to new ATHs#BTC #Crypto #Litecoin

— Rekt Capital (@rektcapital) January 8, 2023 The Halving Effect

The halving event is a crucial part of Litecoin’s economic model. It is a process that reduces the reward for mining new blocks by 50%, effectively reducing the rate at which new LTC is generated. This event occurs approximately every four years, or after 840,000 blocks have been mined. The next halving is expected to happen on August 2, 2023, reducing the block reward from 12.5 to 6.25 LTC.

The halving event creates a scarcity effect, which can lead to a price increase due to the reduced supply of new coins. This is based on the economic principle of supply and demand: when supply decreases and demand remains constant, prices tend to rise.

Historical Performance and Future Predictions

During the last two halving events, LTC price rallied a few weeks ahead of halving and fell significantly immediately after the halving. It fell 73% in 2015 and 83% in 2019. However, LTC price tends to rally after consolidating for months. Thus, traders need to keep a close eye on the price action.

Litecoin creator Charlie Lee predicted LTC to outperform Bitcoin after the Litecoin halving event in August. He predicted at least a 10% rally in LTC price against BTC, with LTC/BTC price at 0.025. Currently, LTC/BTC price is trading at 0.003, way below the targeted price.

Crypto analyst Master Kenobi believes that LTC halving season is here, and the Bitcoin alternative could climb up to the $485 level. Meanwhile, Michael van de Poppe predicts LTC price to continue upside momentum.

Supporting Opinions from the Crypto Community

Reddit users have also shared their insights on the impact of the halving event on LTC’s price. Some users noted that LTC typically experiences a price pump around one month before the actual halving. Others pointed out that the price top was 45 days before the previous halving event.

Medium articles also support the theory of a price increase due to the halving event. One article from The Motley Fool views the halving as very bullish for the future price of Litecoin due to the impact that it has on the circulating supply.

Conclusion

The halving event is a significant factor that can influence Litecoin’s price. While historical data and community sentiment suggest a potential price surge, it’s essential to remember that cryptocurrency markets are highly volatile and influenced by various factors. Therefore, investors should do their research and consider their risk tolerance before making investment decisions.

Please note that this article is based on the current market condition and historical data. Cryptocurrency investments carry a high level of risk, and investors should do their own research before making investment decisions.

The post Time To Buy Litecoin Is Now – But Don‘t Hold It For Too Long appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price halving ltc litecoin tends suggests data

price halving → Результатов: 126


Фото:

Bitcoin ‘Needs $100M Positive Interest Per Week’ To Keep $8K Price

Bitcoin must attract a giant $2. 88 billion in net positive demand if it is to keep its $8000 price in the run-up to the block size halving event. Demeester: Bitcoin Halving Run-Up Needs $2. 8B That was according to Adamant Capital founding partner and commentator Tuur Demeester, who this week offered an alternative perspective on Bitcoin’s short-term price potential.

2019-10-23 15:30


Фото:

Bitcoin Price Still On Course For $100K In 2021, Confirms Analyst PlanB

The creator of one of the most historically accurate Bitcoin price prediction models is confident it will hit $100,000 by 2022. PlanB: ‘I Don’t Expect’ Less Than $100,000 In an interview with Global Macro Investor founder Raoul Pal last week, PlanB, the father of the Stock-to-Flow Bitcoin price tool, said he “did not expect” BTC/USD to fall short of six figures.

2019-10-22 13:00


Litecoin looks to gain movement with potential inverted bart formation

Litecoin was pegged to boom this year, given the historical block reward halving which took place on August 4th; but in contrast, the silver altcoin failed to see its price climb. Soon after, the altcoin saw the formation of death cross on 30th August which is considered highly bearish as it indicated the potential for […] The post Litecoin looks to gain movement with potential inverted bart formation appeared first on AMBCrypto.

2019-10-19 21:00


Фото:

Bitcoin Price Will Likely Hit $11.5K In Next 6 Months, Says Historical Data

Bitcoin could surge by almost 150% before its block reward halves in May 2020, new data from a historically accurate forecasting tool suggests. Bitcoin Pre-Halving Growth Averages 113% According to analyst PlanB, creator of the Stock-to-Flow model for charting the price of Bitcoin , the next six months should see bullish sentiment return in full force.

2019-10-16 15:30


Bitcoin Falls Below Stock-to-Flow Model, Will The Halving Be Front Run By Bulls?

The recent price action in Bitcoin markets has brought the price of the first-ever crypto-asset below the popular stock-to-flow model popularized by crypto analyst 100TrillionUSD. With only seven months to go until Bitcoin’s halving, and with the asset’s prices falling instead of rising, could any chance of the halving being front run by investors be.

2019-10-2 22:00


Top German Bank Predicts Bitcoin to Hit $90,000 After Halving, Calling It ‘Ultrahard Money’

Bayern LB, one of Germany's top banks, has published a report in strong support of bitcoin superseding gold, predicting a price of $90,000 per BTC post bitcoin's halving in 2020. Within a report entitled, "Is bitcoin outshining gold?" the bank's researchers delved into the stock-to-flow ratios of gold and bitcoin, specifically regarding the impact of […] The post Top German Bank Predicts Bitcoin to Hit $90,000 After Halving, Calling It ‘Ultrahard Money’ appeared first on CCN.com

2019-10-2 21:00