The Second LTC’s Halving is Coming, Will it Continue the Strong Performance?
[58COIN] The price of Litecoin(LTC), the cryptocurrency largely considered to be the silver to Bitcoin’s gold, recently rose steadily in the upcoming of the mining reward halving.
Litecoin’s Halving Expectation Doubles the Price of LTC
Litecoin, as the world’s fifth largest cryptocurrency, the price was down about 85% from all-time highs. However, LTC has rallied steadily since early 2019. According to 58COIN, the price has clocked to a high of nearly $60 until March 20, increased by nearly 100% compared with $30 at the beginning of 2019.
Are You Ready for the Upcoming Mining Reward Halving?
Recently, the news about the mining reward halving spreads, most people hold the thought that halving mining means that the miners will get fewer coins, and then the price will definitely rise. The max supply of LTC is 84,000,000, the circulating supply is 60,000,000, the remaining 24 million will affect the market price to some extent.
- Halving will cause changes in supply and demand.
- Halving will double the cost of mining.
- History shows that each halving is accompanied by a skyrocketing in price:
In the first half year of the Litecoin’s first halving, the increase was over 500%, but the market environment was different at that time. In addition, comparing the BTC’s second halving, that is, the market of July 10, 2016, the highest rise was 112%. At present, LTC has risen more than 100% from the low level, can it exceed 5 times of the first halving?
How to Invest in the Upcoming Halving?
The halving market is divided into the expected market and the skyrocketing market. Based on the previous halving of BTC and LTC, the expected market is mainly due to the reluctance of miners to sell, generally starting three to six months before halving, with a small increase lasting about two months.
Investors can buy low six months before the halving and hold the position for 1–2 years after the halving, then sell high when the bull market reaches the peak. Don’t rush to sell until the real halving market starts.
The halving is expected to occur on August 8, 2019. According to the law, the expected market will start 3–6 months in advance. Therefore, it may begin in March to May this year, that said, you can buy low in batches from now on.
Please be aware that the above views are based on the previous market performance and regularity of BTC and LTC before and after halving, and does not mean that LTC will also rise sharply after this halving. Investors should conduct your own research before investing.
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