Saturday , June 25 2022

Litecoin repeats the price increase model before its proximity to twice CriptoNoticias


Litecoin (LTC) is preparing to test, approximately on August 5th, its second reduction in the mining prize, since its creation in 2011. they have increased in recent months.

This increase in the price of litecoin reached nearly 400% so far in 2019. Thus, the data provider Coin Metrics published on July 3 a report stating that These price rises are common before a partitioningThis is because market participants expect the impact of reducing the pressure on sales driven by mining after their wages are reduced by 50%.

As an example, note that when the second reduction approaches half of the unit's wages, LTC is one of the assets with the best performance in the current market cycleAt the beginning of the year, the cryptoactiv went from $ 30 to reach more than $ 140 in July. The increase is more significant than in April last year, coinciding with the start of the upward cycle observed by the market in 2019. However, the growth of long-term care exceeded BTC and ETH.

Litecoin is one of the assets with the best performance in the current market cycle as it is halved in the second place. Litecoin has grown 52% over the past year and is only 68% below its historic maximum.

Coin indicators

Researchers add this Something like this happened during the first cut of the crypto-clay extraction prizeIn August 2015, they explain that at that time prices have reached the bottom up to seven months ago partitioning, increasing with the approach of the decrease.

Then the prices fell sharply when the event happened to recover slightly in the coming months. However, the Metric Metrics team do not forget the specific circumstances that surround you this first partitioning of LTC:

Almost 9 million litecoins went through an address that represented about 22% of all existing litecoins. There was widespread speculation that the Chinese Ponzi scheme is behind the direction, but this has not been confirmed. The deals from this address reached their peak in July 2015, the same month that litecoin experienced a local peak in prices.

Similar models

For analysts, this pattern of market cycle, which implies price increases before partitioning and a drop in value after it, is also presented with other cryptoLooks. This is the case for Battlecock and Ether, who have experienced two rebates in their history.

In this sense, it is stated that one should be optimistic about the future appreciation of the crypto-wave, although developments can not yet be expected in the case of long-term care. However, they say that until now the cryptobile has followed the expected model.

Therefore, they foresee that after a reduction in wages in August, which will make miners get 12.5 LTC instead of 25, will reduce the pressure on sales driven by mining and lower pricesThen stabilization will probably occur.

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