If history pretty much repeats itself, the coin (LTC) might be in for a nice run ahead of the upcoming Litecoin halving – or so the Valkyrie interesting figure.
The “Litecoin halving” will reduce the rate of expansion of the LTC supply by 50 percent. This will be the third miner reward halving in the coin’s history and By early August 2023 expected. After that, the reward paid to LTC miners for recording transactions on the blockchain will decrease from the current 12.5 LTC/block to 6.25 LTC/block. (This reduces the issue of the coin, the “inflation”.)
As you can see in the chart, in the months leading up to the two previous Litecoin halving dates in 2015 and 2019, LTC went from falling to rising nicely. (After the halving, however, it trickled down more.) Now it seems that we are still at the very beginning of this process, the old classic coin, Litecoin, also called “digital silver”, may be facing a big increase in price.
The event is also important because, in the past, Bitcoin’s halvings have led to several bull markets for the number one cryptocurrency.
(The figure shows the number of days before and following the halving on the x-axis, and the exchange rate on the y-axis. The date of the halving is day zero. The blue line indicates the current state.)
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