Litecoin Halving Countdown Begins – Will LTC Price Spike?

As Bitcoin Price is taking a slow pace, Litecoin price is also surging sharply. LTC price has jumped over many barriers and it is likely to continue higher along with BTC in the near future.

Litecoin price has increased by 3.74% against the USD, trading at $96.29. In terms of LEO/BTC, the price spiked up by 1.67%  with trading value 0.00968686 BTC. At present, the support level lies at $94 before the consolidation spiked. 

However, it’s believed that LTC price might experience another downfall to the $88 price level. But the current momentum is indicating that the price is heading towards the $100 resistance and maybe even testing the $110 above it.

Currently, the Litecoin is ranking at 4th position, holding market cap $6,058,412,348 with $3,133,628,015  24 hour volume and 62,916,868 LTC circulating supply. 

Litecoin Halving 

The Litecoin halving event has been designed in the code and will occur every four years. This year, the event will occur at around 9: 30 hours on 5th August 2019. According to the current block statistics, the halving will occur at block 1,680,000

Charlie Lee, the founder of Litecoin cryptocurrency, said that after four days, the reward for miners will be halved. The last time the LTC network was halved in 2015, and the next is scheduled for 2023. For Litecoin ‘holders’, the reward for mining a Litecoin block will be reduced from 25 LTC to 12.5 LTC

At present, few crypto enthusiasts and crypto analyst are looking forward to watching how Litecoin’s price responds to its imminent mining rewards halving event to major price movements.

What’s your Litecoin Price Prediction for 2019?

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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