LITECOIN Halving: “To understand the future, we must go back in time”

By August 5, 2019COSS Wallet
litecoin Halving

With Litecoin halving today on August 5th, everyone wants to know ‘when moon’? Let’s go back 4 years to the last halving event to understand what could happen this week, and the months to follow.

Aug 26th, 2015, block height of 840,000, LTC Mining reward dropped from 50 LTC to 25 LTC. At the time Litecoin traded at $3 and the halving, despite many saying had ‘no effect’, had a significant effect on price.

Here’s what went down during the first halving.

  • First, a consolidation phase for a month, trading between $1.35 and $1.50
  • On May 21st, the price started to set in with LTC making double-digit gains every week
  • Within a month it reached an all-time high of $8.73, (a massive 590% gain)
  • It then traded at $2.40 a day before the halving and spent the following months staggering between $2.87 and $3.24

Another important point to consider is that Litecoin halving doesn’t mimic Bitcoin, which seems to organically increase before and after its halving.

Ok, so now that we know what happened last time, can we predict what happens this time?

Well, let us just say it is complicated.

For starters, there hasn’t been any explosion or consolidation before the halving this time. Instead, the silver to Bitcoin’s gold increased its price gradually this time, and despite the drop in price over the past few weeks, LTC is still trading in the $90 to $100 range.

Furthermore, traders have already priced Litecoin’s halving months before the actual event instead of the sudden pump and dump. While a drop in price is expected by many traders in the industry, it seems that the percentage will be less than last time, and recovery might happen gradually over the next few weeks without raising many eyebrows.

So if you’re a trader, make sure you’re ready for some volatility and if you’re an investor then the halving could be one of the best opportunities to scoop that cheap $LTC in your Litecoin Wallet.

Disclaimer: This announcement is not meant to be taken as investment, accounting, tax or legal advice or a recommendation to buy, or sell any security, digital asset or other investment, management product or service or pursue any investment strategy. It is for reference only. It will not help you to “lambo” or “moon” or any other euphemism for unhinged speculation. It should help you to supplement your own analysis of the project’s commercial viability.

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