It is only five days away from the halving of the Litecoin (LTC). The mining incentives for Litecoin (LTC) will be effectively halved, and each miner will receive 12.5 LTC to find a new block. The current reward is 25 LTC. The last block halving will appear in 2140.
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The halving event remains a hot topic for cryptocurrency enthusiasts. If Google Trends data is taken into account, the term “half of the Litecoin” attracts more attention than the creator of Litecoin, Charlie Lee. The price of LTC soared, surpassing the resistance of $140, triggering speculation in mid-June.
LTC left the cryptocurrency cold winter season long before the halving event, and as it halved, there were many speculations about its possible future trend. Although many people in the field of encryption predict that the LTC market will fall after the recent market decline, LTC has risen by 196.8% since the beginning of the year, from $30.46 to $90.42 at the time of publication.
Aside from all the noise, the price increase and the increase in computing power came unexpectedly. The Wright currency calculation reached the historical peak of 523.81T on July 14, 2019. The ever-increasing computing power shows an impressive mining fundamentals, as the community expects mining returns to decline as the halving approach approaches.
As of press time, the Poolin pool contributed 91.7 TH/s, while F2Pool contributed 86.3 TH/s. This was followed by LTC.top and LitecoinPool.org contributing 50.8 TH/s and 45.4 TH/s, respectively.
These figures highlight the imminent halving event and the impact on the Litecoin community. The price increase of bitcoin before halving is very obvious. In the past, there have been two halvings, but after halving, no significant increase was found. The same effect has appeared in Litecoin. Charlie Lee, the creator of Litecoin, often sees Litecoin as silver, while Bitcoin is gold.
Bitcoin, Litecoin and many other cryptocurrencies have very important sound currency attributes, namely the scarcity of money and limited supply. Satoshi Nakamoto is convinced that this will be a factor in the development of his wisdom. Due to this special property, the rise in Litecoin and Bitcoin one year before the price halved is visible.
Combining sound monetary assets with the emotions of people (especially miners) makes more price increases. Human beings are habitual animals. Everything in the universe is mathematics; from the basic components of life, DNA, to the solar system and galaxies. They all follow fractals; fractals repeat over different time frames. The same is true for the price cycle of Litecoin and other cryptocurrencies.
Therefore, we can conclude that although Litecoin will not show any major rebound after halving, as prices increase and supply decreases, prices will eventually soar.