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Here’s What Litecoin (LTC) Historical Data Suggest About Pre and Post-Halving Price Action

Litecoin historical data indicates LTC price tends to rally a few weeks prior to its halving and fall even more quickly.
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Here’s What Litecoin (LTC) Historical Data Suggest About Pre and Post-Halving Price Action

Litecoin (LTC) price has soared over 110% in a year, with over 50% rally coming within a month. Litecoin historical data indicates LTC price tends to rally a few weeks prior to its halving and fall even more quickly after the halving event.

Several top analysts and traders such as Peter Brandt noted Litecoin’s 30% jump in a day, breaking its yearly high above $114. He said “major breakout” in LTC price. Litecoin currently trades at $106.

Also Read: Elon Musk’s Twitter Restricting TweetDeck Access Causing Exodus Of Crypto Community

Popular crypto analyst Rekt Capital on July 4 shared the historical price action of Litecoin near its halving events. During the last two halving events, LTC price rallied a few weeks ahead of halving and fell significantly immediately after the halving. It fell 73% in 2015 and 83% in 2019.

However, LTC price tends to rally after consolidating for months. Thus, traders need to keep a close eye on the price action.

Also Read: Terra Luna Classic Announces Bug Bounty Program, Is LUNC $0.001 Next?

 

Meanwhile, Michael van de Poppe predicts LTC price to continue upside momentum. However, he is interested to get an add-on going at $99-102 on this one. It will offer an opportunity for investors to accumulate Litecoin at the dip as it moves up near its halving.

Source: Michael van de Poppe

Litecoin creator Charlie Lee predicted LTC to outperform Bitcoin after the Litecoin halving event in August. He predicted at least a 10% rally in LTC price against BTC, with LTC/BTC price at 0.025. Currently, LTC/BTC price is trading at 0.003, way below the targeted price.

As per the Litecoin halving countdown, halving is expected to happen on August 2 at 21:53:57 UTC. Currently, the LTC block reward is 12.5 coins per block and will decrease to 6.25 coins per block post-halving.

Also Read: Regulator Mandates Crypto Exchanges To Register Or Face Enforcement Actions

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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