The crypto community is focusing their attention on whether the price of Litecoin will rise as its halving event draws closer and closer. What can we expect? Is a price boom possible here?
LITECOIN HALVING AND THE SURPRISES IT HAS BACK
Besides expecting the Bitcoin Halving to take place in the spring of 2024, the reduction in the emission rate of LTC is also notable.
Blockchain analytics firm Santiment says Litecoin Halving will cut mining rewards by 50%, as expected. In addition, the group of whales and other large investors seem to be preparing for the event.
The trades of these big players are growing along with the high trading volume of LTC.
The price of Litecoin has also increased significantly as investments pour in, with expectations to continue. Therefore, Litecoin could experience a positive summer.
Still, caution should be exercised as the bullish behavior may be short-lived. Santiment confirmed to a Twitter user that Litecoin could enter a temporary bull market after the halving.
The price will increase in the coming weeks and stabilize before the halving or will decrease in August after the FOMO eases.
A COINS WELL FOR THIS TRACKING?
What can we really draw from the above analysis? Santiment could be wrong because Litecoin has been trending up lately. Even the crypto winter can’t affect the reputation or growth of this coin.
In any case, many experts predict the bull market will continue until at least August. The emergence of NFTs on the Litecoin network could increase the likelihood of that happening.
The high transaction fees of Bitcoin and Ethereum could also hasten that outcome, prompting investors to embrace “cheaper” projects.
While the impact of the halving remains unpredictable, there is little chance that it could upset Litecoin’s price rise. One thing’s for sure: If something happens this summer, you’re bound to hear about it.