Let's talk about Litecoin
Dear readers, when we talk about cryptocurrencies it is impossible not to remember the projects that were pioneers and that came out after bitcoin came out, such is the case of Litecoin that was created by Charlie Lee in 2011, litecoin is a fork of bitcoin with the intention of being an alternative in the improvement of bitcoin. This project since its inception sought to generate faster blocks and cheaper commissions, something that has undoubtedly made it an efficient and economical alternative to make payments, thanks to the low costs in each transaction has been adopted by many people when transferring economic resources represented in cryptos.
From the beginning litecoin was known as the silver of bitcoin gold, it has a limit of 84 million available coins and the consensus mechanism is based on proof of work (PoW) and like bitcoin to control its emission and reward for miners, a halving is resorted to (which is an event in which the block reward of a cryptocurrency is divided in half in order to reduce its emission level). Unlike bitcoin in litecoin occurs every 840,000 blocks, the last litecoin halving occurred in August 2019 and it is expected that by August 2023 the next halving will occur that occurs every 4 years and the current rewards will be halved, currently the reward is 12.5 Ltc per mined block and could end up being 6.25 Ltc per block.
The aforementioned in recent days has caused a lot of stir, since there is a feeling that this year 2023 will be good for litecoin before the halving, being able to reach its all-time high if this were to be related to a recovery of the cryptocurrency market. The small price increase has already begun to be observed at the beginning of this year where the Ltc reached this January 02 a price of 75 dollars which presents a 7% increase in a few hours as reported by some news portals. In relation to this there are some historical data that indicate that prior to the arrival of the halving some positive data are recorded in relation to the price.
Dear readers, litecoin is a coin that is among the top 15 in market capitalization according to coinmarketcap, it has started to climb steps these last few weeks. Despite not being an innovative project, since 2011 it has been on the market in an interrupted way which generates some confidence in many investors, current prices make it an alternative to invest in the long term.
Thank you for reading our article, until a next installment.
News portal consulted
Thank you for sharing this information about Litecoin and its potential performance leading up to the halving event. It is interesting to see the potential historical patterns and consider how they may influence the future price of Litecoin. It is always important to conduct thorough research and analysis before making any investment decisions. Thank you for your hard work in creating this post.
Hi @artist1111, I totally agree with you, we have to look for historical statistics on the price of litecoin when approaching a halving, a rise is expected before, which could increase if the market completely recovers.
Thank you for your valuable comment, have a great week.
hi litecoin seems to be a coin which may go much higher in the next bull phase. Lets see how high it goes.
Hello @thetimetravelerz, there is the expectation as far as it can go up and it will be able to reach its historical maximum, I hope that the market recovers before the halving to be able to observe good prices.
So long, have a great week.
I invested it LTC in wrong time and it give me loss but it was my fault and I was victim of FOMO. But now I think it will go much higher in the next bull run.
Hi @chasad75, without a doubt these bear runs are the best to invest in the crypto market, just like you happened to me with other cryptos when they were at their maximum prices.
See you later have a great week.
Hey, thanks for sharing this valuable information about Litecoin! I totally agree with you. Litecoin has been around for a while and has a lot of potentials, especially with the upcoming halving in 2023. It's good to see that the market has been climbing recently. It's definitely a good coin to invest in for the long run.Also, I wanted to share with you a website I came across that talks about bringing new utility layers to Litecoin. It's called The Lite Chain (https://thelitechain.com), and they have some interesting insights about the future of Litecoin. You should check it out!Thanks again for sharing this info, and looking forward to your next installment.