Litecoin Halving Less Than 30 Days, LTC Up 31% In The Last Week

Key Points:

• Litecoin halving just 29 days, 20 hours, and 45 minutes (17682 blocks) ahead of the Litecoin (LTC) block reward halving.
• Litecoin (LTC) price has increased by almost 31% in the past seven days and is currently trading at $114.
• Most investors expect the Litecoin price to increase after the halving event, as the number of rewards will decrease, thus increasing demand.

According to Litecoin halving data, 29 days, 20 hours and 45 minutes (1,7682 blocks) are still left before the Litecoin (LTC) block reward halving. The halving is scheduled to take place on August 2, at which point the block reward will drop from 12.5 LTC to 6.25 LTC.

Litecoin has been trending on social media as the asset approaches its halving event. Litecoin has seen significant growth over the past 30 days. The price of LTC has increased by more than 27% since the one-month countdown to the Litecoin halving began. LTC has emerged as one of the best-performing tokens over the past week, with a gain of 30.4%. Currently, LTC is trading at $114.

Most investors expect the Litecoin price to increase after the halving event, as the number of rewards will decrease, thus increasing demand. However, there are several other factors to consider.

A significant trend to watch is the influx of new miners. The long-term value of LTC is predicted to increase as supply decreases. As a result, many will want to participate in the possible bull run.

Each LTC price halving is usually very chaotic. This includes a significant price pump, a corresponding correction, a price low, and a local rally to the top. After the halving, the price of LTC was corrected from the high at that time. It will then form a new low followed by a sharp rise to a new all-time high. Therefore, we will likely see a post-halving price pump on August 2, 2023. And according to previous halvings, the price could correct before reaching a local top.

According to experts’ analysis, the cryptocurrency shows a bullish bias and could be close to converting the $100 resistance level into support. This could lead to a major breakout and sustained rally that could lead the token to hit $130 in the near future.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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