Over the past years, the halving of a digital currency has become a very big deal. It is one of the most bullish actions in the crypto space. For instance, before each Bitcoin halving, there is usually a significant bull run cycle. The price of Bitcoin (BTC) would surge enormously and experience very high trading volumes and price mark up. This same trend is also seen prior to the halving of other digital currencies. One altcoin that has exhibited this trend is Litecoin. Prior to the previous Litecoin halving, the price of Litecoin surged significantly and broke over several bullish Litecoin price predictions.
Litecoin (LTC) Price Today – LTC / USD
Litecoin (LTC) is referred to as the digital silver to the digital gold of Bitcoin (BTC). Halving is an event that usually occurs at regular intervals. The event usually reduces the reward for mining a block by half. This means the reward of block miners will be reduced by 50 percent.
Litecoin Halving Is Fast Approaching, Can Litecoin Ignite an Altcoin Rally?
At the press time, the halving of Litecoin is about 69 days away. This is a very huge event for Litecoin and bullish Litecoin news. At the moment, all eyes are on Litecoin (LTC). Will Litecoin recover? What is Litecoin price prediction in the coming months? How far can the price of Litecoin go before the halving event? Many digital asset investors are expecting the price of Litecoin to skyrocket significantly prior to the event.
The last Litecoin halving event caused the entire digital currency market to rally. Even Bitcoin (BTC), which was under the influence of the bears, was also carried along in the mini alt season. Will LTC, once again, ignite an all-out altcoin season and push the prices of other digital currencies higher, including that of Bitcoin (BTC)? The Ripple effect of the forthcoming Litecoin halving has got many digital asset investors excited. Some are now even acquiring more Litecoin tokens, increasing their holdings, with the fear of missing out. However, no one knows when the big rally will start. But Litecoin just broke over a key resistance level – the short-term Litecoin price prediction. Many are now wondering if the Litecoin rally has started.
Litecoin Breaks over $100 to Signal a Fresh Price Rally – LTC Is One of the Best Cryptocurrency to Invest in 2019
The digital currency market is gradually becoming bullish on LTC as the halving event of Litecoin is fast approaching. The halving will reduce the block reward of Litecoin from 25 LTC to 12.5 LTC. Over the past years, halving events usually result in short supply and high demand which usually drives the price of these digital currencies. Crypto analysts, Litecoin community, and digital asset investors are all out on Twitter, being bullish about the digital currency and the forthcoming halving event.
In a tweet, Shardi B said:
“Here comes the halving FOMO, c’ mon my little chickum. $ltc time is here! #Litecoin. PS. If the market follows Litecoin again we are in good shape.”
There are lots of bullish comments and Litecoin predictions out there. Will the bullish Litecoin price prediction come to pass? Can the price of Litecoin surge to $1,000 after the halving? Will the previous Litecoin halving trends be seen this year? Well, the answers to these questions are just a couple of weeks away.