Analysis: The halving of Litecoin is completely bearish for LTC prices, but can boost bitcoin prices

According to foreign media reports recently, crypto trader and analyst Tone Vays said that the halving of Litecoin is completely bearish on LTC prices, but it can boost bitcoin prices. He explained that halving bitcoin usually reminds miners of scarcity, and scarcity usually increases the value of crypto assets, making miners more profitable. But in terms of Litecoin, scarcity is not a major factor, and Litecoin has many competitors compared to Bitcoin. He mentioned that the halving of Litecoin should be a reminder to the industry that there is no value in mining LTC in the current market. Instead, he believes that halving bitcoin will make Bitcoin more valuable. In addition, he added, the bullish trend after LTC halved will not push BTC's price valuation to any major high, but will still play a key role.