Charlie Lee Says the Effect of The Forthcoming Litecoin Halving Should Have Started Already

The digital currency market is experiencing a heavy downward trend and Litecoin (LTC), which is expected to surge higher, is also plunging lower. All the top twenty digital currencies in the market are currently in the red. Some of them have lost more than 25 percent of their values over the past day. Bitcoin (BTC) price is down by about 11 percent, Ethereum (ETH) is struggling around the $270 mark, and the price of XRP is heading towards the 32 cents support level.

Litecoin (LTC) is one of the major losers over the past day. However, the digital currency just reclaimed its position as the fourth largest digital currency by market cap. Litecoin recently lost its position to Bitcoin Cash (BCH). The price of BCH is down by about 18 percent, giving Litecoin more room to reclaim its position. However, the recent price trend of Litecoin is not what digital asset investors and traders are expecting. Litecoin halving 2019 is less than 30 days away and Litecoin is still struggling around the $100 mark.

Charlie Lee Says Litecoin Halving 2019 Should be Priced In Already – Litecoin Price Prediction 2019 – Litecoin News Today

Litecoin halving 2019 is just by the corner. The Litecoin halving date is August and the expectations about the effect of the event are yet to be seen. The Litecoin halving 2019 would reduce or halve the block mining reward on the Litecoin network. The creator of Litecoin (LTC) – Charlie Lee – said that the effect of the Litecoin halving event should have been priced by the market already as a lot of people know about it right from the start. He said that people expect the price of Litecoin to surge higher, so many digital asset investors are increasing their LTC holdings, and it ends up being “a kind of self-fulfilling prophecy.”

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$44.96-1.49%

Lee said that the price of Litecoin (LTC) is estimated to go up in the long run. However, it is anyone’s guess how the digital currency moves in the short-term. The Litecoin halving date is estimated to happen on the 5th of August and it would reduce the mining reward on the network to 12.5 LTC per mined block on the blockchain of Litecoin.

Lee said that halving is always a shock to a crypto ecosystem as some crypto miners will no longer make profits from mining and shut down their machines. If a significant fraction of miners shut down their machines, the network will be slow for some time. Lee said that “for Litecoin, it is two and a half days till next change, so possibly seven days. He further added that the mining difficulty will adjust itself automatically and everything will be fine after that period.

Litecoin Price Analysis – Litecoin Price Prediction 2019 – LTC USD Live Price – Litecoin Halving 2019

Litecoin (LTC) is currently one of the top losers among the top ten cryptos in the market. The price of Litecoin (LTC) is down by about fourteen percent over the past twenty-four hours. Litecoin (LTC) is currently supported at the $100 mark. On the upside, the immediate resistance of the coin is at the $105 level. The trading volume of Litecoin is still on the high side as more digital asset investors are taking advantage of the price plunge. LTC USD live price is $102.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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