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While the cryptocurrency markets continue to suffer from frequent volatility crises and bearish bearish pressure, investors are keen to look for events that could reverse the decline in the price of their investments. Litecoin (LTC) is one of those crypto-currencies that has fallen dramatically from its historical highs, but an upcoming event could possibly change its price trend.
A prominent cryptocurrency badyst is eager to say that if history repeats itself, Litecoin could see its prices skyrocket in the next few years as investors see the news. the impact of its next block rewards event, commonly known as "halving".
Litecoin (LTC) down more than 90% from record highs
At the time of writing this article, Litecoin (LTC) is trading up almost 4% at its current price of $ 32.70. It is one of the few major cryptocurrencies to show gains today.
While LTC is trading slightly higher than its all-time low of $ 23 in 2018, it is now down more than 90% from its record highs of about $ 375 were at the top of the 2018 crypto parabolic bull market before inverting and sending all crypto currencies spiraling down.
The litecoin, like all crypto-currencies, has been particularly affected by the recent state of the markets and still has a long way to go before it can recover or even exceed its previous records, but its next event may be in able to reverse its downward trend.
The division in two of the event has always been marked by soaring prices
Litecoin, like Bitcoin, periodically organizes a block reward discount event that reduces rewards earned by miners for block fetching, reducing the rate of crypto-issuance. change. Assuming that demand for LTC is constant, the reduction in supply will have a positive impact on its price, as miners will not sell as much SLD consistently.
Litecoin (LTC) is historically rising in the years following its event.
Moon Overlord, a popular cryptocurrency badyst on Twitter, discussed the consequences of halving events on the price of LTC in a recent tweet, pointing out that if history repeats itself, it can reach its point low in the 200 days before the event, then climb back to its unprecedented highs.
"The halving of #Litecoin is fast approaching … LTC has reached its critical point about 200 days before halving it by 2015 … We are almost exactly 200 days away from the next halve of LTC $. .. LTC peaked at least 2 years after its [sic] in half, if it follows a similar path this time, the peak will be in 2021, "he explained by referring to a chart that shows Litecoin's historical price models at the time of events.
the #Litecoin reduce by half is fast approaching
Long-term care ended about 200 days before halving in 2015
We are almost exactly 200 days from the next $ LTC reduce by half
Long-term care peaked at least two years after being halved. If it follows a similar path, it will reach its peak in 2021. pic.twitter.com/UbsQdEmhnN
– Lord of the Moon (@MoonOverlord) January 29, 2019
If history continues to repeat itself as in the past, the Litecoin could soon establish a long-term floor that will be followed by a period of side trading before it starts to return to its prices. the highest of all times.
It is important to note, however, that it is highly unlikely that LTC will change prices in the next few years if Bitcoin and the rest of the cryptography markets fail to increase stability.
Featured images of Shutterstock.
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