Litecoin Price Prediction: When To Expect LTC Rally Ahead Of Halving Event
Litecoin halving news: The crypto market recovery in the last few weeks came as a relief for altcoins as well. The price recovery not only led to capital infusion to the market, it also helps new investors to join the market. Also, the crypto price rally could not have come at a better time for some cryptocurrencies that are about to make technical progress. The much awaited Litecoin (LTC) halving event is scheduled for August 3, 2023.
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The halving event will mean that the volume of newly minted LTC will be reduced by half. It is going to be the third such halving event for the cryptocurrency. In this context, the Litecoin trader community is already abuzz with activity in anticipation of the halving event. Meanwhile, Litecoin price prediction is on for the cryptocurrency to breach the $100 figure.
Litecoin Rally Ahead?
In the lead up to the halving event in August, the 14th ranked cryptocurrency could at stage witness a price rally. In this context, investors are expecting a rally until above the $100 mark in short term. As of writing, the LTC price stands at $89.64, up by around 1% in the last 24 hours, according to CoinGape price tracker. According to crypto investor Jelle on Twitter,
“With its next halving estimated to take place later this year, we could finally see the catalyst for new $LTC all time highs. For now, chart looks good for a run to 1.618, slightly above $100. Above that area, we go to the races.”
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However, it remains to be seen when a full fledged LTC price rally is set to take place in anticipation of the August event. Also, the halving event is subject to changes in timeline due to technical changes.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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