Litecoin Price Prediction: When To Expect LTC Rally Ahead Of Halving Event
Litecoin halving news: The crypto market recovery in the last few weeks came as a relief for altcoins as well. The price recovery not only led to capital infusion to the market, it also helps new investors to join the market. Also, the crypto price rally could not have come at a better time for some cryptocurrencies that are about to make technical progress. The much awaited Litecoin (LTC) halving event is scheduled for August 3, 2023.
Also Read: Here’s Proof Of Crypto Market Anticipating More Bitcoin (BTC), Altcoin Price Rise
The halving event will mean that the volume of newly minted LTC will be reduced by half. It is going to be the third such halving event for the cryptocurrency. In this context, the Litecoin trader community is already abuzz with activity in anticipation of the halving event. Meanwhile, Litecoin price prediction is on for the cryptocurrency to breach the $100 figure.
Litecoin Rally Ahead?
In the lead up to the halving event in August, the 14th ranked cryptocurrency could at stage witness a price rally. In this context, investors are expecting a rally until above the $100 mark in short term. As of writing, the LTC price stands at $89.64, up by around 1% in the last 24 hours, according to CoinGape price tracker. According to crypto investor Jelle on Twitter,
“With its next halving estimated to take place later this year, we could finally see the catalyst for new $LTC all time highs. For now, chart looks good for a run to 1.618, slightly above $100. Above that area, we go to the races.”
Also Read: Dogecoin Whales Scoops Over 500M DOGE, Price To Rally Over $0.1 Again?
However, it remains to be seen when a full fledged LTC price rally is set to take place in anticipation of the August event. Also, the halving event is subject to changes in timeline due to technical changes.
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
