Crypto traders predict that the price of Litecoin may continue to rise for another month. The next Litecoin halving event is expected to take place on July 26, 2023. Traders forecast that the price of Litecoin will reach $110 and rise above $200 before experiencing a significant drop.
One crypto trader refers to historical data on the behavior of Litecoin’s price before previous halving events and claims that the current rally could last for over a month. In the past, the price of Litecoin significantly increased approximately 50 days before the halving, especially in 2019 when it more than tripled before experiencing a pullback.
“think i agree on this, nice little bit of data someone shared with me earlier aswell regarding halvingseems like there’s could be solid month- 40 days left of upside based on last 2 halvings, it is small dataset but valuable nonetheless imo”
The Litecoin halving is an event that occurs every four years and reduces the block rewards for miners. The next Litecoin halving is expected to occur on July 26, 2023.
Another trader has also expressed an optimistic forecast regarding the price growth of Litecoin. They shared a chart analysis indicating an upward trend line and predict that the price of Litecoin will surpass $105.69 and rise above $190 before the next halving event.
Throughout most of 2023, the price of Litecoin has exhibited a sideways trend. It rose from $70.1 to a yearly high of $105.69 in the first quarter but then dropped back to $65.39 by the end of March. Currently, the price of Litecoin is fluctuating around $92.49.
Many members of the Litecoin community on Twitter agree with the traders’ forecasts of a significant rally before the halving and have shared their own independent analytical opinions.
Disclaimer: The views, opinions, and all information provided in this price forecast are presented in good faith. Readers should conduct their own research and exercise caution. Any actions taken by readers are strictly at their own risk. Coin Edition and its affiliates are not liable for any direct or indirect damages or losses.
