Will Litecoin Soon Bull Run ?
It seems like the hype and news over Facebooks rally on Bitcoin prices is over. As we continue to slump and trade wards between the US and China settle down again. It seems like money is flooding back out of crypto.
Litecoins halving is now just 34 days away in which it will go from 25 new litecoin per block down to 12.5 effectively reducing the daily supply by 7,200 less litecoin minted per day.
This is a rather large reduction and from what we have seen in the past has always pushed prices higher.
However this effect does not seem to really be felt till a few months after the halving takes place.
While a small rally does happen before the halving takes place it is often meat with a small pull back in price shortly after. Then about 2-3 months after the halving has taken place it seems like the market feels the pinch and this is when the strong rally happens to get to the new norm.
The last Litecoin halving produced a 400% increase graded it was in the middle of a massive bull run.
Could this happen again ? There are a number of things going for it and bitcoin come 2020 so this could be a longer delay on the price increase.
Overall I am pretty confident that what I buy today will be worth more in a year.
- Please remember this is not investment advice and simply my own opinion.
Hope so. Planning on converting mine to STEEM when it does hah
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My hodling on LTC is based upon Charlie Lee's quest to make LTC a privacy token while adding the vault to the technology.
I havent heard anything in months about it although it was said, earlier in the year, they were shooting for year end.
Ultimately, we are hostage, overall, to the ebb and flow of money into and out of the crypto market. It is just too small to not be influenced by that in a major way.
A few mega Wall Street whales moving out seriously impacts things.