Litecoin Price Predictions: Will Litecoin’s Next Halving Take Crypto Higher?
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There’s an event, known as a “halving,” coming in August that could increase significantly Litecoin (LTC-USD) price. Cryptocurrency experts weigh in, and overall the Litecoin price predictions indicate strong upside potential.
Litecoin has been around since 2011 and has gained value over the years. Why was crypto up 13% this morning? Possibly, it’s because traders are excited about the upcoming halving event for Litecoin, which is scheduled to happen in August.
As the Litecoin developers explained in a tweet, “One of the revolutionary aspects of Litecoin is its deflation model.” This, the tweet continues, “means that the amount of Litecoin mined decreases over time, by ‘halving’ every 4 years and thus becomes scarcer over time.”
That tweet, from March 5, announced that the next Litecoin halving would be “in 150 days.” Then again, it is expected to take place in August, and some traders and experts are bullish on Litecoin in anticipation of the halving.
Litecoin price predictions suggest strong upside potential
Not all cryptocurrency experts necessarily expect higher Litecoin prices, but some of them are clearly bullish. No doubt they are aware of the impending halving event and factor this into their Litecoin price predictions.
More forecasts (via CryptoNewsZ) are unmistakably optimistic. For example, Currency.com observes that Litecoin “has reached an all-time high” and expects it “to grow even more, potentially reaching $500 at some point.”
Wallet investormeanwhile, set a 2027 price forecast of $238.60 for Litecoin. Long weather forecasthowever, is less ambitious, claiming that Litecoin “could cross $150 by 2023.”
Coin Price Forecast is quite specific with its predictions. It claims that Litecoin will reach $125.09 in the first half of this year and $153.24 during 2023’s second half. Furthermore, Digital coin price is bracing for robust long-term gains, predicting that Litecoin “could cross the $95 mark by the end of 2023 and $270 by the end of 2025.”
Litecoin is below $95 at the time of writing, so these are all ambitious forecasts for the cryptocurrency. It will be interesting to find out if the August halving event has the expected bullish impact on the Litecoin price.
At the date of publication, David Moadel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.
