HALVING BY LITECOIN ($LTC) 2023
A guide to the halving speculation of Litecoin ($LTC), the second most decentralized crypto after BITCOIN
A LITTLE HISTORY OF LITECOIN
Litecoin (LTC) was created by Charlie Lee, a former Google employee, in 2011.
Lee created Litecoin with the goal of creating a cryptocurrency that was faster and lighter than Bitcoin, but with the same decentralization and security features.
In particular, Litecoin is based on the Bitcoin protocol, but uses a different mining algorithm, called Scrypt.
Lee chose the name Litecoin as he wanted to create a light and fast coin, like silver versus gold (Bitcoin). The official launch of Litecoin took place on October 7, 2011, with the publication of the source code on the GitHub website.
Since its launch, Litecoin has grown in popularity and has become one of the most used cryptocurrencies in the world. Today, Litecoin is accepted as a form of payment by many businesses and merchants, and is considered one of the most stable and reliable cryptocurrencies on the market.
Since Litecoin (LTC) is a decentralized cryptocurrency (let's remember that it is the younger sister of BITCOIN), it too is subject to the Halving event every 4 years.
LTC halving is expected every 840,000 blocks.
To date we have witnessed 2 LTC Halvings, here is what historically happened:
In the past, following the Litecoin Halving event, the time it took for the price to reach its new all-time high varied. :
1. First Halving (August 25, 2015): The price of Litecoin ($LTC) reached its all-time high of around $375 in December 2017, which is about 2 years and 4 months after the first Halving.
The price before the Halving was approximately $4.00
Therefore, following the halving, the price increased by more than 93 (ninety-three) times
Below is the graph of that event.
2. According to Halving (August 5, 2019): Litecoin ($LTC) price spiked just before the Halving, hitting $145 on June 21, 2019. The pre-Halving price was around $80.00
After the halving, the price of Litecoin ($LTC) continued to decline until it reached around $42 in December 2019. After that, the price of Litecoin ($LTC) gradually increased to a new all-time high of around $410 in May 2021.
i.e. about 1 year and 9 months. after the second Halving.
So following the halving the price increased by more than 5.2 times
Below is the graph of that event.
3. Third Halving (August 6, 2023): Since the third Halving is expected within the first week of August 2023, it is not yet known how long it will take Litecoin price to reach the new all-time high after this event.
From the historical study of the previous halvings (only 2 at this moment) we have only one (almost) certainty, namely that the halving event leads to new historical highs for Litecoin.
But historicity says that to get the new maximum price (ATH) one could wait more or less 2 years.
Below is the current graph, which shows how Litecoin has grown by 109.9% in the last 12 months.
Considering the historical crypto period we are going through, and correlating the trend of Litecoin with the halving of his majesty BITCOIN which will develop in May 2024, I believe that 3 different scenarios can be configured on which to base our operations and exit strategy on Litecoin.
Scenario 1: the LTC price will touch new highs (or in any case it will get very close) before or after the halving to make new ATHs after the BTC halving. Under this scenario we would encounter at least 2 new all-time highs in LTC. We consider the probability very high.
Scenario 2: the LTC price will NOT touch new highs before or after the halving to make new ATHs only after the BTC halving. We consider the probability very low.
Scenario 3: the LTC price will NOT reach new highs before or after the halving nor after the BTC halving. We consider this event very unlikely indeed.
Considering that we already have open positions on Litecoin (LTC), we have decided to follow Scenario 1. So we will supplement our position in case of any downside.
To date, Litecoin is our largest position after Bitcoin.
We will dump the position on the occasion of a possible new LTC ATH to reopen it on the subsequent lows with a time horizon of 2025 waiting for the new ATH in the wake of the bullrun of his majesty Bitcoin.
For those who wish to make a step-by-step exit, on the occasion of possible and inevitable retests, these are the target prices to take into consideration:
$120/$130
$300
$500
$700
Values above $700 are currently neither conceivable nor predictable
DISCLAIMER: This is not financial advice, I'm just sharing our operations without ulterior motives, so if you lose money by doing the same thing, it will be exclusively your fault and you will assume all responsibility.
Telegram : t.me/speculatevi
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