Litecoin Halving: Will LTC Price Rally or Crash?
• Litecoin (LTC) price dropped 5% in the previous 24 hours, dropping to $91 in the European session.
• A halving event is scheduled for Aug 2 at 17:25 GMT, however it has been seen that the price does not immediately respond after this event.
• The token lost 21% since peaking at $115 on July 3 and risks a 15% drop as it has been trading within a consolidation channel year-to-date.
Overview of Litecoin Price
Litecoin LTC price shaved 5% off its value in the previous 24 hours, dropping to $91 in the European session on Aug 2. The move came as a continuation of the bearish momentum, and the token lost 21% since peaking at $115 on July 3. Meanwhile, the veteran altcoin eyes another 15% drop in value, as it has been trading within a consolidation channel year-to-date.
Impact of Litecoin Halving Event
A halving event is scheduled for Aug 2 at 17:25 GMT, however it has been seen that the price does not immediately respond after this event. During a halving, the amount of Litecoin created each time a block is mined is cut in half (12.5 to 6.25 LTC). It strengthens the incentive to mine as much as possible just before
