Litecoin Halving 2019 Countdown | Know Everything About Upcoming LTC Halving
Litecoin is one of the earliest forks of Bitcoin, which is going to go through its second halving process, wherein the Litecoin halving date is scheduled for August 6, 2019. Litecoin Halving event happens after 840,000 LTC blocks are mined and the miner rewards are cut into half. In order to understand a particular set of things that dictate how much of Litecoin would be released, and how and when the supply is reduced overtime, leading to a phase where no new Litecoins will be released.
What is Litecoin Halving?
Just like Bitcoin, Litecoin goes through the halving method every 4 years after 840,000 LTC blocks are mined and the miner reward gets halved or becomes 50% lesser than before. This time is the second time this event is taking place, and the miner reward will decrease from 25 LTC to 12.5 LTC at the respective time it’s happening.
Litecoin Halving Date History Explained With Effect on Price
Litecoin Halving in 2015
Back in 2015 on August 26th, the first LTC halving process took place since its inception in October 2011. At that time, the block reward dropped from 50 LTC to 25 LTC. After 48 days of the halving, Litecoin skyrocketed by over 500%.
- Litecoin had their block reward high for several months post the event.
- Some of the investors after speculation made good money on this particular event.
Upcoming Litecoin Halving in 2019
Litecoin is going to undergo the halving process in August 2019, which is just a couple of months away. As we know, a decrease in supply leads to high price, hence many investors will price in the block reward event predicting that its supply might fall in the future. Some miners might exit the market when they realize their computing power can’t compete with others. When they exit, the difficulty decreases and price tends to decline.
Click here to watch the Litecoin Halving 2019 detailed video
Impact of Litecoin Halving 2019
At present, the miners mine one LTC every 2.5 minutes and receive 25 LTC as a block reward, which is going to get halved in another two months. Some of the factors which would get affected are the miners, the users and the price by default. A breakeven cost is when the miner’s profitability can cover only his own cost. So, when Litecoin’s price falls below the breakeven point, the miner is bound to suffer losses. (LTC Halving 2019)
#1 Impact on Price (Litecoin Halving Price Prediction)
Whenever new coins are generated by mining, it tends to have that selling pressure as the miners need to cash out to pay salaries and electricity bills. So, the price of Litecoin can go down if there’s not enough demand. When the reward is halved, the selling pressure will be lesser, so if the demand doesn’t change, the probability of the price falling will be lower. Even the inflation rate reduces drastically after halving, hence the impact on pricing.
#2 Impact on Miners
When the computational power increases, the miners would find it difficult to compete and eventually exit. Similar kind of mining adjustment problem happened last time Litecoin underwent halving. Even the mining pool owners get affected by this. When LTC has high value, the pool owners and the retail investors scramble to buy the machine and vice versa. Moreover the halving would cause the profitability of Litecoin mining smaller and the time for profit more uncertain.
#3 Impact on Fees/Usability
The halving would by default, have an effect on the fees or usability and the common things generally worried about is delay in transactions and unfavorable fee recommendations.
This is the Litecoin halving countdown box, where you can track the Litecoin halving date and time here.
Halving Rally: Litecoin’s Price Logs Biggest Monthly Winning Streak Since 2017
Litecoin’s blockchain is set to undergo a mining reward halving in August this year, as it is programmatically designed to do so after every 840,000 blocks are mined or roughly once every four years.
The process is aimed at controlling inflation by reducing the rewards for mining on the blockchain from 25 coins to 12.5 coins and seems to have put a strong bid under the cryptocurrency.
Litecoin has scored gains in each of the previous four months – its longest monthly winning streak since August 2017. Prices rallied 3.8, 46.3, 31.15 and 22 percent in January, February, March and April, respectively, according to CoinDesk data.
Why does the halving matter?
Associating litecoin’s rally with the reward halving makes sense as the process results in reduced production of the cryptocurrency’s supply. Miners will be earning 50 percent fewer coins for every block mined after August and will be adding significantly fewer litecoins to the software’s ecosystem, possibly leading to supply deficit.
Markets are always forward-looking and tend to price in such demand/supply-altering events often times several months in advance.
Backing that argument is historical data which shows the price of litecoin had rallied sharply in seven months leading up to its first reward halving, which took place on August 25, 2016.
Litecoin’s Halving and Price History
Back then, LTC had bottomed out at $1.12 in January 2015 to print a high of $8.72 in July before falling back below $4.00 ahead of Aug. 25.
This time, the cryptocurrency bottomed out $22 in December and has surged by more than 250 percent ever since. The rally may not be over yet as the halving event is still three months away and traders who missed the bus in the first quarter may enter the market in the next few weeks, creating upward pressure on prices.
Also, the implication of a “halving” and its historical impact on price will start getting more attention as the event nears, potentially inviting more buyers to the market.
All said, events that get priced into the value of a traded asset well in advance of the actual date tend to experience a “sell the news” effect once the event has in fact taken place or slightly before it.
Case in point, this is what transpired in the few weeks leading up to litecoin’s first halving in 2015.
As the date approached, investors began to lock in profits by selling the digital asset after it topped out in July 2015, one month prior to the reward halving. The month of the halving itself, in fact, closed with litecoin’s price nearly 40% lower than when it started, further confirming investors lost interest in the cryptocurrency after the highly anticipated halving event had concluded.
After the supply cut, litecoin’s price trend remained sideways for nearly two years before surging to new all-time highs in 2017, potentially laying the blueprint for what is to come after its block rewards are halved once more.
Disclosure: The authors hold no cryptocurrency assets at the time of writing.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Litecoin Price Primed To Surge To $220 Thanks To Litecoin Halving According To Latest LTC Price Prediction
Litecoin, the digital silver, has had an impressive comeback from its crypto winter low of about $23. Since the price of Litecoin reached this level, cryptocurrency analysts agreed that Litecoin has found a bottom. It started moving higher gradually and has gained by more than 200% since then. Among other things, one of the major reasons why the price of Litecoin was surging is the Litecoin halving. Typically, the price of a cryptocurrency rises significantly months before the halving event. This happened before the last Bitcoin halving and the current Litecoin halving. Now, a Litecoin price prediction on CCN states that the price of Litecoin will surge by 140% within less than three months.
Litecoin Price Prediction 2019 – Litecoin News Today – Litecoin Halving Will Fuel A Litecoin Bull Run
If the price of Litecoin rises by 140% from its current level, it is going to hit the $220 mark. According to the Litecoin price prediction 2019, the price of Litecoin will surge as high as $220 as a direct result of the highly anticipated Litecoin halving event. During the Litecoin halving, the block reward miners get will be reduced to 12.5 from 25. The Litecoin halving will lead to reduced inflation, anticipation of a price increase after the halving from investors, and increased buying pressure which amounts to a surge in price.
Litecoin (LTC) Price Today – LTC / USD
The Litecoin halving event is going to happen in the first week of August. Even if this is just three months ahead, the price patterns are already looking bullish. The key resistance at this time is at $100. Litecoin has been trying to surge above this resistance for months now without success. If it is finally able to cross it and hold its ground above it, more gains will come near-term. There is an ascending triangle pattern which indicates an uptrend immediately after the price consolidation. The 100-day MA is below the 50-day MA and the 200-day MA is above the 100-day MA.
The price of Litecoin will most likely move as high as $175 as indicated by the inverted head and shoulder pattern. When it gets to the $175 level, it is going to consolidate there for a while before finally moving above the $220 level. The most important thing is crossing the $100 mark. After $100, there will no be significant resistance until the price of Litecoin gets to $220. When Litecoin finally crosses $220, we will confirm that the extended downtrend for LTC is finally over.
Litecoin Price Prediction 2019 – Litecoin News Today – Current Price Of Litecoin
At the time of writing, the price of Litecoin was consolidating at $87.56. This means that it is down by 4.04% against the USD and down by 0.46% against the price of BTC. The trading volume over a 24 hour period is $3,518,170,989 and the market capitalization is $5,419,259,863. Within the next few days of trading, the price of Litecoin will start moving higher against the USD. Right now, it is important to note that LTC is falling as a result of a general price consolidation in the market. Bitcoin is also in red along with most of the altcoins on coinmarketcap.com.
What do you think about the Litecoin price prediction 2019? Will the Litecoin halving lead to a 140% surge in the price of Litecoin? Share your thoughts in the comment section below.
Litecoin Price Analysis: How High Will Halving Hype Push LTC?
In approximately 179 days, Litecoin (LTC) will undergo a block-reward halving — cutting the coin reward for miners from 25 to 12.5 coins. With fundamental developments like confidential transactions reportedly in the works and the popular altcoin experiencing price-strength confirmation, how high will the impending halving hype push the price of the peer-to-peer cryptocurrency?
[Disclaimer: The following article is not financial advice and should not be construed as such. Consult with a trained financial advisor before making any investment decisions. The author holds Litecoin (LTC) and Bitcoin (BTC).]
If you’re not accumulating Litecoin (LTC) right now, you might want to consider adding the altcoin to your portfolio.
On August 8, 2019, Litecoin will undergo a block-reward halving, which will reward miners with half of the current reward for successfully validating blocks.
The Bitcoin (BTC) block-reward halving typically garners all of the spotlights — and rightfully so. Such an event has historically impacted the price of the market-leading cryptocurrency in a positive fashion. Many experts are predicting that the next Bitcoin halving on May 24, 2020, will likewise trigger or spur on the next major bull run. With more people aware of this fact than ever before, it stands to reason that hype will build around Litecoin’s earlier block reward halving as we progress through the year.
Litecoin (LTC) Daily Chart
Litecoin has successfully burst out of the 200-week simple moving average in astounding fashion following the announcement that confidential transactions are in the works for the so-called ‘silver to Bitcoin’s gold.’
With such a dramatic spike in volume and convincing push above the crucial moving average, it is within reason that Litecoin has officially entered a new bull market.
That said, Bitcoin and the rest of the cryptocurrency market are still firmly in the control of the bears — so assuming that Litecoin is officially out of the woods may not be particularly wise.
Litecoin (LTC) Monthly Chart
The monthly chart for Litecoin against Bitcoin paints an interesting picture leading up to the halving in August.
The 50-month moving average on Bitfinex is providing resistance at this very moment. A break above this monthly moving average is entirely possible — in which case, it would be nice to see it provide support in the coming months.
The stochastic relative strength index (RSI) is just starting to come out of oversold territory against the first and foremost cryptocurrency. It is clearly heading upwards and is showing clear signs of bullishness.
Of course, one should never FOMO (fear of missing out) into a cryptocurrency. Nothing ever goes straight up or straight down. However, we may be in the buy-the-dip territory now with Litecoin’s fundamental developments and August halving still months away.
What do you think of the price of Litecoin (LTC) in the months leading up to the August block reward halving? Let us know your thoughts in the comments below!
Images courtesy of Shutterstock, CoinMarketCap, TradingView
Five Months to Litecoin (LTC) Halving, Demand, Price and Hash Rate Soar
The direct correlation of hash rate with prices means Litecoin network is secure as miners funnel their computing power searching for profit. At spot rates, the coin is up 3.6 percent and bouncing off the middle BB as buyers flow back.
Litecoin Price Analysis
Cumulatively, the market is on the rise after last week’s correction. Spearheading this bounce is Litecoin (LTC) which is up 3.6 percent in the previous day but still down 11.1 percent from last week’s close. To project that Litecoin (LTC) would lead others would be concluded as a pipe dream some few months ago. However, after a solid Q1, yesterday’s bounce off $75 together with the recovery of Bitcoin Cash (BCH) did add around $5 billion in a possible trend reversing move.
Nonetheless, what is attractive is the steady rise of Litecoin’s hash-rate. History shows that hash-rate do rise with prices. Therefore, at spot rates, Litecoin is up to 4X from Dec 2018 lows. Even so, we expect Litecoin to edge higher thanks to its direct coupling with Bitcoin which has much attention after last week’s close above $5,000 as well as other fundamental events like Litecoin halving scheduled at Aug 6, 2019.
Per design, Litecoin halves every 840k blocks. After this cycle, miner rewards will drop 50 percent from 25 to 12.5 LTCs. It is the scarcity that follows this event that analysts insist will drive the next wave of higher highs towards $150 as LTC bulls flow back rewarding hodlers.
From the chart, the path of least resistance is up, and Litecoin (LTC) is leading the expansion wave invalidating the bear breakout pattern of late 2018. Expectedly, after the crypto winter when the network lost nearly 90 percent of its value, a correction was on the cards, and it is in progress.
Trading above $50, bears of Q4 2019 are no longer in control and as long as prices steady above $75 with the middle BB—or the 20-day MA acting as flexible support—the there is more room for upsides above our immediate resistance at $90.
Besides, note that from an effort versus results point of view and the failure of bears to drive below Apr-2 close, buyers are in charge. April-14 bar did cement this now that we have a triple-bar reversal pattern albeit with light participation. Nonetheless, the bar aligns with the general trend which is up.
In the meantime, Apr-11 bear bar—347k is our focus bar. The moment LTC prices rally past $90 with high volumes above 347k; conservative, risk-averse traders can load up with the first target at $110 and later $150. Presently, risk-off traders should load on dips with the same targets but with stops at $70.
Chart courtesy of Trading View