Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Litecoin Forum => Topic started by: Maxicreed on July 15, 2023, 06:18:59 PM
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The much-anticipated Litecoin halving is slated to take place in less than 18 days from now and the block reward is expected to decrease from 6.25 LTC to 3.125 LTC.
This is a reoccurring tradition every four years to help preserve the value of Litecoin and make it a more appealing for investment.
Tho, there is ongoing debate about whether the halving will have a significant impact on its price cos some have argued that it will lead to a price surge since the reduced supply will increase Litecoin's value but others have a contrary opinion suggesting that the halving will have a minimal effect since the demand for Litecoin is already high.
In 2015, Litecoin experienced a rally of +520% before its halving that year.
Similarly, in 2019, LTC rallied by +545% prior to its halving in that year.
What do you expect the impact of this year's halving to be?
Regardless of its direct influence on price, several platforms always offer various events and enticing rewards related to halving.
Some platforms have already begun organizing events for the upcoming halving. I recently came across one of such on Bitget today. Three rewarding campaigns are already in play in preparation for a potential imminent price surge.
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Haha! Historically, it's been a hit in the upward trajectory and that has always been the thread in crypto space. Personally, I think with the Ripple triumph against SEC and the news of possible BTC spot ETF scheduled to go live in America & Europe and maybe the relaunch of FTX news, LTC might witness a massive ATH this time around
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Your opinion here may eventually play out cos LTC halving may not necessarily mean that its price is gonna rally up. I'm fingers crossed 🤞 to see how things unfolds while adding some to HODL.
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History always repeats itself in the crypto industry, and judging from historical data, the upcoming LTC halving will likely affect its price trend positively.
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Personally I think there would be an increase in price before the halving. Because of my belief I have been holding LTC for a while now, excited to see what happens.
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I can’t say what the outcome would be after the halving, all I know is that there is every possibility that prior to the halving there will be an upsurge in the price of LTC, the demand will significantly become so high due to the events most exchanges are putting out. Giving out $100 reward for new users who deposited upto $100 LTC isn’t a small reward, a lot of BITGET users has already started trading LTC/USDT just to get out of the $60,000 reward for those who trade LTC/USDT, other rewards attached as well will make LTC increase both in demand and price.
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What halving does is that it reduces the miners rewards and also reduces the rate at which coins are mined and therefore ultimately reduce the number of coins in circulation, and the resultant effect is that it will be be scarce and easier to take out all sell orders which will make price go up of and only if people buy it, but if nobody buys it up then it remains stagnant, no magic will take the price up by itself. But as you have said that you noticed people have been engaging it on Bitget, then the price will go up there, until it is general before you see the resultant effect if not it won't mean a thing. Let's not also forget that crypto is facing adoption gradually and we'll soon be out of the woods!
Let me know your opinion.