Could the price of Litecoin (LTC) increase by up to 200% by July 2023, when we will have its third in a row Halving, in which rewards for miners will be reduced by 50%?
Litecoin has undergone two Halvings (What is a Halving?) since it was first released in October 2011. The first occurred in August 2015, which reduced the miners’ reward for each blk from 50 LTC to 25 LTC. The second occurred in August 2019, which reduced the reward from LTC 25 to LTC 12.5.
Interestingly, each Litecoin halving event occurred after an unstable price cycle for LTC, i.e. a huge price spike followed by a similarly huge correction, followed by a price bottom and then a rebound to a new peak.
After the Litecoin halvings, the LTC price corrected from the peak where it was, then created a lower low, followed by another huge price rally to a new record high, as shown below.
The third halving of Litecoin is scheduled to take place sometime in July 2023.
Meanwhile, various analysts point out that the price of LTC is going through the same trajectory before each Halving as it did before the 2011 and 2019 events.
However, if Litecoin confirms that it has reached its lowest low point, then a price rally of 100%-200% by July 2023 is likely to occur, based on what has been recorded in the previous two Halving events that have passed.
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