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•17 days ago
According to experts, the recent sell-off of Litecoin (LTC) and the consequent drop in its value from around $60 to $55 might be an indication of the coin’s pre-halving performance. Analysts are predicting that the coin might continue to drop in value and potentially fall to around $50 in the near future. However, this downward trend is attributed to the low trading volumes that have been recorded recently in the market. Therefore, there is still a possibility for the coin to remain stable and recover its value if its trading activity increases.
Litecoin Halving is a process that occurs approximately every four years in which the mining reward for Litecoin miners is cut in half.
Generally, the price of Litecoin rises in anticipation of a halving event due to the reduction in supply. However, after the halving event, the price of Litecoin can drop as demand decreases and miners move to other coins.
As of April 12, 2021, the price of Litecoin is $207.95 USD.
It is difficult to predict the future price of Litecoin, but it is possible that the price could fall to $50 if demand continues to drop and miners move to other coins.
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