Litecoin Halving 2019: Litecoin (LTC) Price Has Been Stagnant, Is There an Imminent Breakout?

The digital currency market was stagnant all through yesterday. There was no significant upward or downward movement in the prices of cryptos in the market, especially the top ten. Bitcoin (BTC) was the only digital currency that was moving in an open range, but it still failed to break over the $11,900 mark. At the press time, among the top ten cryptos in the market, only Bitcoin (BTC), XRP (XRP), and Tron (TRX) are trading in the green. The rest of them are down by a little fraction. However, the stagnation of Litecoin (LTC) – the fourth largest digital currency by market cap according to CoinMarketCap – is very surprising.

Litecoin halving 2019 is just by the corner and the performance of Litecoin (LTC) is not up to expectation. Many digital asset investors are expecting the price of Litecoin to skyrocket a couple of weeks before the Litecoin halving date. However, the Litecoin halving date is estimated to be August 5th and the price of Litecoin (LTC) has been stagnant over the past two days.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$54.54-0.44%

Litecoin Halving 2019 Will Be a Shock to LTC Mining – Litecoin Halving Date – Litecoin Price Prediction 2019

Charlie Lee – the creator of Litecoin (LTC) – recently came out to predict that Litecoin mining many slow as miners might shut down their operations after the forthcoming Litecoin halving 2019. Lee disclosed this during an interview with Mickey – an Australian digital currency news platform on the 10th of July. During the interview, the Litecoin creator talked about the possible impact on the mining ecosystem of Litecoin when the Litecoin halving 2019 kicks in and the reward for mining blocks on the network reduces by half. He said it is always a shock to the ecosystem. Lee further added that:

“When the mining rewards are reduced by 50 percent, some miners will no longer make profits and they will shut down their operations. If many of them shut down their machines, then blocks will slow down for some time. For Litecoin (LTC), it is three and a half days before the next change, so possibly like seven days of slower blocks. After that, the difficulty will readjust itself and everything will go back to normal.”

Litecoin Price Analysis – Litecoin Price Prediction 2019 – Litecoin Halving 2019 – Litecoin News Today

The bulls seem to have weakened out as the crypto market has been stagnant over the past day. However, this stability shows that digital currencies are gradually becoming less volatile. Nevertheless, digital asset investors are expecting upward movements that will yield a great return on investments.

The price of Litecoin (LTC) has been moving in a very tight range over the past day. LTC USD price started yesterday around the $102 mark. The digital currency was locked within the $102 and $105 range all through the day. LTC USD price managed to close the day around the $104 mark. At the press time, the digital currency seems to be strongly supported at the $100 mark, as it has not broken below that level for quite some time now. On the upside, Litecoin (LTC) need to break over the $106 and $110 resistance

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.