The upcoming Litecoin halving of mining rewards slated for August and the overall rise across the market appear to still be spelling good things for LTC.
Remarkably in Q1, LTC managed to set a performance record by doubling in price overall, its best Q1 performance to date. As noted in my last price analysis just under a month ago, Litecoin was sitting at just over $60, which was a 100% gain on January’s opening.
And their trend doesn’t appear to be slowing down. As of this writing, the price of LTC has crested $83.
As I stated last time around, in 2015 we saw this same type of rally on LTC due to the market anticipating the impending supply drop of their first halving. With rewards set to be halved from 25 LTC to 12.5 LTC in just shy of four months and miners adding fewer coins to the ecosystem beyond that point, we could see this trend mirror events of 2015 when the price moved from a little over $1 USD to well over $8.
However, just a month before that initial halving, the price of LTC dropped back down below $4, which could mean we see anywhere from a slight dip to a major drop sometime around the end of June.
But of course, bullish exhaustion could set in and show us a drop before then. We’ll have to wait and see.
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Litecoin (LTC) Price Analysis – April 19, 2019
