• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Litecoin LTC
Nexo Logo

As Litecoin Halving Nears, Analysts Fear Bearish LTC Scenario Unfolding

Cole Petersen by Cole Petersen
3 years ago
in Cryptocurrency news, Litecoin
Reading Time: 2 mins read
Advertisement

Halving events for cryptocurrencies are commonly referred to as catalysts that typically spark bull movements due to the fundamental strength they contribute to individual cryptocurrencies. Litecoin (LTC) is currently under two days away from its halving event, which has been widely viewed as a bullish event.

Despite this, analysts are noting that Litecoin investors may be gravely disappointed by the crypto’s price action in the coming days and weeks, as it has previously faced significant selling pressure following its halving event.

Litecoin Drops as Halving Hype Fades

At the time of writing, Litecoin is trading down just under 1% at its current price of $95.20 and is down slightly from daily highs of over $97.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

While zooming out and looking at Litecoin’s price action over a longer time frame, it is clear that the cryptocurrency is not being bolstered by the imminent halving, as it is currently down from its late-June highs of over $140.

Josh Rager, a popular crypto analyst, recently explained that he believes Litecoin’s price action looks significantly less bullish than other cryptocurrencies, including Chainlink.

“Comparing $LTC and $LINK for someone & thought I’d share. There are huge fans of both but right now $LINK is clearly the asset to be in even with the LTC halving upon us. LTC has been in a clear downtrend & unable to hold its own again BTC while LINK has responded well at support,” he noted.

Comparing $LTC and $LINK for someone & thought I'd share

There are huge fans of both but right now $LINK is clearly the asset to be in even with the LTC halving upon us

LTC has been in a clear downtrend & unable to hold its own again BTC while LINK has responded well at support pic.twitter.com/glv4nol8ZM

— Josh Rager ? (@Josh_Rager) August 3, 2019

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Halving May Result in Multi-Month LTC Downtrend  

Another possibility that could scare LTC investors who are banking on a post-halving price surge is that it will actually result in a medium-term downtrend.

Tadleer, another popular crypto analyst on Twitter, mused this possibility in a tweet, pointing to a chart that shows that during the last halving, Litecoin surged before the event before facing a post-event sell-off.

“$ltc halvening is coming up, will history repeat itself?” He explained while referencing the below chart.

$ltc halvening is coming up, will history repeat itself? #litecoin #Crypto pic.twitter.com/JYUxmsgVca

— tadleer (@tadleer) August 1, 2019

As the halving draws closer, it is highly probable that analysts and investors alike will soon discover whether or not the event will truly be a bullish catalyst, or if the hype will fade and leave a trail of bag holders in its wake.

Featured image from Shutterstock.
Tags: cryptoLitecoinltc
Tweet123Share223ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Avalanche

Avalanche (AVAX) Shows Optimism But Is This A Price Reversal?

23 mins ago
Polkadot

Polkadot (DOT) Trades Beneath $11; How Soon Will It Target $14?

1 hour ago
Cardano

Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming

12 hours ago
bitcoin hammer reversal

Hammer Time: The Bullish Signal That Could Save Bitcoin

12 hours ago
Cosmos

Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery

2 days ago
How Blockchain Technology Expands The Education Frontiers

How Blockchain Technology Expands The Education Frontiers

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List FidoMeta (FMC) on May 23, 2022

May 22, 2022

Are Mountanaz (MNAZ), Bancor (BNT) and Convex Finance (CVX) the Top DeFi Projects to Watch in 2022?

May 22, 2022

ApeCoin (APE) has a New Rival: The Burgeoning Saga of RoboApe Token (RBA)

May 22, 2022

The Changing Face Of DeFi: What Is The Future Of Fundraising?

May 22, 2022

3 CRYPTOCURRENCIES THAT WILL MAKE YOU A MILLIONAIRE: PACMAN FROG (PAC), POLYGON (MATIC), AND STELLAR (XLM)

May 22, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.