The 4th ranked cryptocurrency, Litecoin, has noted gains of around 300% and was a massive winner amongst the top altcoins. The litecoin halving event is a month away, and those who invested and waiting for that day to arrive.
According to Litecoin official blog post, the previous halving occurred on August 25, 2015, at block 840,000. At present, it is expected 20 days earlier that is on August 5th at block 1,680,000 due to increased network hash rate.
If history is going to repeat there should be a big spike in Litecoin prices over the coming four weeks. In 2015 LTC surged 400% in the month leading up to the halving. The litecoin price surged from $1.70 to $8.50 as a massive wave in the crypto market.
In the recent interview, Litecoin creator, Charlie Lee shared his previous experience with BTC and Litecoin halvings and what we might come across during the halving. Charlie stated that the halving can not only impact mining profitability but may also force some of the miners to shut down temporarily.
Charlie also believes that the present rise in crypto prices is directly related to the recent flood of investments before the halving. With the Previous litecoin halvening indication, Lee displayed certainty about the inevitable rise in the crypto’s prices.
Also, Lee warned the viewers, “It (crypto prices) can drop to $20, and don’t be surprised if it does. If you can’t withstand a 90% drop, then don’t buy it because it’s too risky for you.”
At present, LTC is currently trading at $120.43, with $7,535,484,316 market cap and $3,495,276,927 24 hour volume.
Few analysts predicted that, if there is a dump, LTC price might go down to $113. But, in case the history repeats and there is a pump LTC price might surge more that $140.
About Litecoin Halving : Litecoin Halving is the event where the number of generated Litecoin rewards per block will be halved. The total number of Litecoin mined by miners per block will reduce from 25 to 12.5 LTC in the next litecoin halving. This halving reward ensures that litecoin total supply will reach 84 million.
Will Litecoin Halving contribute a greater glory? What’s your litecoin price prediction for 2019? Share your thoughts on Facebook and Twitter page.