The Litecoin community has been excited about the prospects of the coin following the oncoming halvening. Litecoin price prediction 2019 was already surpassed after the recent market rally. what can investors expect from Litecoin price after the long-awaited halvening?
Just as BTC has “halvings” or “halvenings”, Litecoin does as well. While the popular digital currency is different from its proverbial godfather, based on a different block algorithm, quicker block times, as well as a totally different focus, Litecoin also has block reward reductions too. Over a four year period, the amount of Litecoin that have been issued per block typically halves during the halving. This is known as the formal “reduction in supply inflation”
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction 2019: Litecoin Price to Surge Because of LTC’s Halving
Why Satoshi Nakamoto, Bitcoin’s creator, built the halving mechanism into his creation is yet to be seen, but our guess is, it may have something to do with his supposed distaste towards the centralization of financial institutions. Most of these institutions are capable of printing money at will, without the public’s knowledge.
As a result of simple supply-demand economics, most of the experts in the space are sure that as we await Litecoin’s halving this August, LTC price could surge. We have already gotten a taste of what the market is feeling. Litecoin price has already rallied 286% year-to-date. It has done better than most altcoins and Bitcoin.
Litecoin Price Prediction 2019: LTC Price Still Has Enough Room to Rally, Analyst Says
According to one tweet from Financial Survivalism, a crypto analyst, Litecoin price still has plenty of room to rally. He remarks that before the cryptocurrency’s past block reward reduction, in mid-2015, LTC price rallied strongly against the price of Bitcoin. It eventually found a parabolic peak after the auspicious event. Litecoin price eventually sold off against BTC price, falling after the latter’s halving.
If historical data reoccurs this time out, LTC price will keep going up until it rallies doubling its value against BTC from 0.0148 (its current position) to 0.0270 (in the next three-odd months). If the price of Bitcoin continues higher from this position, this LTC rally could become $250+ Litecoin by the time Litecoin halving occurs.
Litecoin Price Prediction 2019: Hype Growing For Bitcoin’s Halving As Well
The reports of Litecoin’s halving is not the only thing buzzing or being widely anticipated in the cryptocurrency sector. Only a few weeks ago, two Bitcoin’s halving countdown dropped to just one year. Meaning there’s another BTC halving on the way.
Predicting the inflation of most digital assets can be a difficult endeavor. Just take a look at the Venezuelan Bolivar. Let’s use it as a case in point. How it has been hit by inflation in recent years. However, with Bitcoin, we can actually determine or predict its inflation ten years into the future. For the USD this isn’t feasible. For all, we know and according to some cynics, the USD may actually be subject to hyperinflation in the next decade who knows. This could occur as a result of fiscal mismanagement and irresponsibility.
This, combined with the laws of demand and supply, has resulted in many in the crypto sector suggesting that the next Bitcoin halving will be bullish for BTC price. In fact, according to a report by Bloomberg, based on a recent Twitter poll, no less 61% of 2,500 users agreed that BTC will rally upwards into May 2020. They cited supply and demand economics to back up their prediction.