Less Than 24 Hours Till The Halving
Litecoin is now just just 22 hours to go (estimated) till its mining rewards get cut in half.
This halving will reduce the amount of litecoin mined per block from 25 down to 12.5 a massive reduction of 7,200 less Litecoin per day going into circulation.
It most likely will take the markets a few months to feel the reduced supply of litecoin as each monthly nearly 216,000 less litecoin will be hitting the markets.
Miners
Normally what happens just before a halving happens is miners will ramp everything up to squeeze out as much litecoin as they can from the last of the blocks. While this does somewhat seem to be the case as we jumped about 200 T/hs in just 3 months it will be interesting to see how far the dip in processing power will be once the halving takes place. (This will most likely be a new post of mine in about a weeks time as we look back on price, amount mined and hash rates)
Supply and Demand
Of course with litecoin halving that means less to be pumped into circulation. There are currently nearly 63 million of the total 84 million litecoin to be mined. That is a large amount of litecoin already in circulation. The other factor to consider here in terms of the long term hold is the bitcoin will be halving in just 287 more days around mid May 2020. This has also driven up the price of litecoin and some of the other altcoins.
I have a feeling that 2020 is going to see massive growth while the rest of 2019 is more of a shift out of crap altcoins and into major cryptos instead.
What are your thoughts on litecoin halving ? Do you feel it will take a few months for the markets to feel the reduced supply?
I’m so excited! I will buy some LTC now and some later. I can wait till whenever folks realize it’s a basic economic argument just waiting to fulfill itself. BTC:LTC::gold:silver
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LTC Less Than 24 Hours will Halving ! is a very good news !
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It may be the catalyst to move the market as bitcoin will also have one next year and if the lower supply moves the market, then the FOMO may come back very quickly!
Yeah I feel like it will take some time for the markets to feel the decrease in supply. But there are two nearly back to back in the grand scheme of things which might turn this into a long running year rally. Granted it might not be 300% overnight lol but I feel like it will be a steady increase in value due to lower supply. Bitcoins halving is not as hard though 6.25 coins per block while litecoin is getting a 12.5 per block reduction.