How does market prepare the Litecoin Halving
Litecoin halving is expected to take place in 2023. Maybe you’ve heard about Litecoin halving or halving in other cryptocurrencies. But what exactly is Litecoin halving, and how will it impact Litecoin prices? Today, we’ll talk about Litecoin’s mining structure, and when the next halving is anticipated. We’ll talk about:
- What Litecoin halving is
- The history of Litecoin halving
- What it means for Litecoin prices
Do you have any Litecoin? You might be nervous about Litecoin halving because of the Litecoin halving. The Litecoin halving also presents the savvy investor with the opportunity to profit! So let’s talk about everything you need to know about Litecoin halving!
Litecoin Halving History
Litecoin is an offshoot of Bitcoin, designed specifically to speed up transactions and function more like cash. Its transactions are billed to be verified up to four times faster than Bitcoin. Litecoin, like Bitcoin, began its history rewarding its miners with 50 coins for verifying its blocks of transactions. The halving refers to the reward miners receive for verifying transactions, which is halved as more coins enter into circulation.
Litecoin Halving 2015
The first Litecoin halving in 2015 dropped the mining reward from 50 coins to 25 coins. This halving is built into the code, to help fight the inflationary effects of putting more coins into circulation. The price of Litecoin on august 26th, 2015 was about $2.85 a coin. A drop of about 70% had proceeded the halving, after reaching a high $7.54 in July, and dropped steadily for the next forty days.
The following months saw Litecoin fluctuate between $2.87 and $3.24, as it tried to find its footing and a new price floor.
Litecoin Halving 2019
The halving event in 2019 mirrored closely the halving of 2015. The market value of LTC began surging actually in December of 2018, trading just north of $22.50. It rose to a height of $144 on June 12th, 2019.
By the halving, the price was $102.36. It then dropped and went between $70 and $50 but by the end of the year, it was at about $40. Obviously, the price of the coin crashed after the halving, after surging in the runup to it. This is a more severe scenario than the 2015 halving but it doesn’t mean it can’t repeat, including some of the great surges!
Litecoin Halving effects. Date prediction 2023
The Litecoin halving in 2023, four years after the 2019 halving, is predicted to be in August, just as the other two were. The current estimate is August 6th, 2023 for the halving. Of course, this could occur sooner rather or even later depending on how many transactions there are in Litecoin (and how many blocks are generated to be “mined” or verified.
Litecoin Halving in 2023. The real BTC alternative?
Litecoin halving is interesting to observe as it moves with BTC. The chart closely mirrors BTC, but recently has started to diverge. This may signal that Litecoin isn’t seen as a “cheap Bitcoin” for speculators, but is starting to have a use case of its own.
If Litecoin continues to chart its own course, then you could see it become a real Bitcoin alternative. It is designed to be used as a fast transacting cryptocurrency, so Litecoin has technical advantages over Bitcoin.
Litecoin Halving Beyond
Litecoin halving and crypto halvings, in general, are events that, by their design, cause a change in the price of the currency. They’re events that are designed in the code to control the rate of inflation or the creation of new coins. This is the classical definition of inflation for currencies (not a price increase or a decrease but the new creation of money). Understand that the coin is designed with these events baked in to bring stability to the coin price.
Stability for cryptocurrencies is a great thing! It means that more and more people will become comfortable adopting the coin. Litecoin’s adoption rate and market cap mean that there is plenty of room to grow!
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