Litecoin Halving Explained
Litecoin Halving, What is it?
Litecoin Halving is a 50% reduction in block reward after a certain number of blocks have been mined; and block reward is the number of coins received in reward by a miner for successfully mining a correct block.
At present, Litecoin miners are mining a Litecoin block every two and a half minutes and receive 25 LTC as a block reward.
But now, after the next halving of Litecoin, this block reward will get halved to 12.5 LTC, and this halving happens after every 840,000 blocks of Litecoin are mined.
Therefore, this is how halving happens and what Litecoin halving means.
The last Litecoin halving took place in August 2015, and halving happens every four years.
So, by that logic, the next Litecoin halving is slated to happen in August 2019 (ETA: August 5, 2019).
Halving Price Prediction?
With Bitcoin’s price going up to previous highs and the market sentiment towards cryptocurrencies is positive, we should expect Litecoin to cross its previous all-time high of $370.
During the 2015 halving, the prices increased by almost 7 times.
Bitcoin halving history can be a good indicator on what to expect:
- 1st halving (11/28/2012): Price bottomed 378 days before then rose 510%
- 2nd halving (07/09/2016): Price bottomed 539 days before then rose 309%
At the end, if you made up your mind and decided to jump on the Litecoin train before halving happens in August 2019, BelcoBTM provides you with the most easy and convenient way to do so.
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