The Litecoin price has recently seen a period of stabilization after a strong surge following the Ripple victory in recent days. Generally, the trend of the Litecoin price has been upward for months.
The upcoming Litecoin Halving could potentially propel the price significantly higher in the weeks that follow. The question remains whether the Halving will cause the Litecoin price to explode or if things will remain unchanged.
How has the Litecoin price performed in recent weeks?
Over the past few weeks, the Litecoin price has experienced significant fluctuations. However, the mid-term trend has been upward. At the beginning of the year, the Litecoin price was below $70, but in recent weeks, it briefly surpassed the $100 mark.
During this period, there was a strong bull run after Ripple won the legal battle against the SEC. The Litecoin price surged significantly above $100. Subsequently, the price fell back and stabilized around $93 in the past few days.
When is the Litecoin Halving happening?
The next Litecoin Halving is expected to take place on August 2nd. During the Halving, the block reward for each new mined block will be reduced from 12.5 LTC to 6.25 LTC. This will result in a supply shock for Litecoin, which could drive the price sharply higher.
In the case of Bitcoin, where the next Halving is scheduled for April 2024, these Halvings have consistently triggered strong price rallies in the following weeks and months, ultimately initiating the bull market.
Can the Litecoin price explode, or will we see little effect?
The question concerning Litecoin at the moment is whether the Halving alone can have a significant impact on the price. Usually, Litecoin closely follows the performance of Bitcoin. If Bitcoin rises in the coming weeks, it