Litecoin Price Analysis: When Will Litecoin Halving Effect Kick In?

The bears are currently in charge of the digital currency market as all the top cryptos in the market are still struggling to amass gains. This past week has not been favorable to the crypto market. None of the top digital currencies in the market has been able to make a massive upward surge. At the press time, all the top 25 coins in the market are deep in the red, including stablecoins. While this is not a surprising trend, the recent price action of Litecoin (LTC) has been somewhat surprising. Litecoin halving 2019 is just by the corner and digital asset investors are expecting the price of Litecoin to skyrocket. However, the entire market is in this together and no one knows when the crypto market will break out of this bearish cycle.

Bitcoin (BTC) is also struggling to stay afloat in the market. The price of Bitcoin (BTC) recently plunged below the $11k level. Yesterday, BTC USD price plunged below the $10,800 support level before it corrected higher again. At the press time, BTC USD live price is $11,182 after a decrease of about four percent over the past twenty-four hours.

Will Litecoin Halving 2019 Price in Next Week? – Litecoin Price Prediction 2019 – Litecoin Halving Date

Litecoin halving date is on the 5th of August. Few weeks before the last Litecoin halving, the price of Litecoin surged by more than 450 percent. LTC USD live price continued surging higher after the event took place. The halving event of a digital currency is the reduction of mining reward on the network by 50 percent. Litecoin halving 2019 will see the reward of mining Litecoin reduced to 12.5 LTC.

The price of Litecoin is supposed to have started responding to the forthcoming bullish event. However, the effect of the halving event is yet to be seen. Nevertheless, LTC holders and digital asset investors are very positive that a major LTC breakout is underway. There are two possible outcomes for the forthcoming event. It is either the price of Litecoin (LTC) skyrockets or it plunges further.

The creator of Litecoin (LTC) – Charlie Lee – recently suggested that some LTC miners might shut off their mining machines as they might find the operation less profitable. If this happens, the LTC network might be slow for about seven days after the halving and everything will to return normal after then.

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

Litecoin (LTC) is one of the best performing digital currencies in the market this year. However, it is the highest loser among the top 20 coins over the past seven days. The price performance of Litecoin has been very poor over the past couple of weeks. During the last crypto bull run, LTC USD price surged to a high of $150 before it started plunging lower.

LTC USD price has been hovering around $104 over the past few days. However, the price of LTC plunged below that level and broke below the $100 mark. LTC continued its downward trend and tested the $96 mark before it started correcting higher again. At the press time, LTC USD price is struggling to hold gains over the $100 mark.

LTC USD live price is $100. The immediate support of the digital currency is at the $98 mark. On the upside, the hurdle of the digital currency is at the $105 mark.

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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