I am looking forward for the next Litecoin halving event which is scheduled to take place on 2nd of August 2023. Such event is scheduled every 4 years in the LTC blockchain.
In past these events took place in 2015 and 2019, this year’s halving being the 3rd such event in Litecon’s history.
After the event, the block rewards for the miners validating transactions will be cut in half, from 12.5 LTC to 6.25 LTC.
So, the supply of new LTC entering the market is reduced, which could lead to an increase in price.
As a way to control inflation, halving is for me the opposite to what governments do to increase inflation: printing money.
When reward is halved, the amount of LTC created will be reduced also by half which in turn helps keep the coin price under control, stable on the long term.
For the community these are times of anticipation and excitement, everyone waiting to see how the price of LTC will behave.
I believe its adoption will increase, as people like to own what is scarce.
For me personally Litecoin holds an emotional value among its other important features - with LTC pairs I started to learn trading, its stability and in general lower fees allowed me to develop and grow. It is my favourite coin.
Regarding its price I think it might grow but not as much as people expect it - after the halving.
I can see a feeling of greed and people try to accumulate it now, but is also a mixed feeling - it is still bearish, inclined mostly towards a bullish trend.
They seem to be almost equal, like 50/50.
It is difficult to say for sure what will happen to the price of Litecoin after the halving.
Some analysts said halving could lead to an increase in the price of Litecoin, due to scarcity while others believe there will come a short-term sell-off in Litecoin because miners will go ahead and sell their LTC holdings to be able to cover their costs.
A multitude of factors will affect the post halving price of LTC, including here also the overall feeling and status of the cryptocurrency market.
While no one knows what will happen, we can all watch this major event and its impact as participants in the market or just spectators. Either way, is a good show to watch.
As of 12:00 pm UTC on 19 July 2023, Litecoin is trading at around $91.54, down 3.4% in the past 24 hour.
