How High Halving Hype Push Litecoin Price
How High Halving Hype Push Litecoin Price
Developments like confidential Litecoin LTC transactions reportedly in the works and the 4th Ranked Cryptocurrency experiencing price-strength confirmation, how high will the impending halving hype push the price of the Litecoin LTC?
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On August 8, 2019, Litecoin LTC will go through a block-reward halving, which will reward LTC miners with half of the current reward for successfully validating blocks.
The 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 litecoin in a positive trend. Many Cryptocurrency experts are predicting that the next BTC halving on May 24, 2020, will likewise trigger or spur on the next major Price bull run. With more people aware of this fact than ever before, it stands to reason that hype will build around LTC�s earlier block reward halving as we progress through the year.
LITECOIN PRICE DAILY CHART
Litecoin Price has successfully sparkle out of the 200-week simple moving average in astounding trend following the announcement that confidential Litecoin transactions are in the works for the so-called �silver to Bitcoin�s gold.�
With such a dramatic spike in volume and convincing to push Litecoin price above the crucial moving average, it is within reason that LTC price has officially entered a new bull market.
That said, BTC and the rest of the cryptocurrency are still firmly in the control of the bearish market so assuming that Litecoin LTC is officially out of the woods may not be particularly wise."How High Halving Hype Push Litecoin Price"
LITECOIN PRICE MONTHLY CHART
The monthly chart for Litecoin LTC against Bitcoin BTC paints an interesting picture leading up to the halving in August 2019.
The moving average of 50-months on Bitfinex is providing resistance level at this very moment. A break above the support level on this monthly moving average is entirely possible in which case, it would be nice to see it provide support in the coming months.
The RSI is just starting to come out of oversold territory against the first and foremost cryptocurrency. It is clearly moving upwards and is showing clear signs of bullishness.
Of course, one should never fear of missing out into a cryptocurrency world. Nothing ever goes straight upwards or straight downwards. However, we may be in the buy-the-dip territory now with Litecoin�s fundamental developments and August Litecoin halving still months away.
What do you think of the Litecoin price in the months leading up to the August block reward halving? Let us know your thoughts about Litecoin Halving in the comments below!
