Litecoin took a major hit back when Charlie Lee dumped his LTC and announced it to the world. This was followed by Charlie Lee’s endorsement of Nano shortly thereafter. That drama is over, and speculation has caused the price of Litecoin to soar in recent days.
The coin is expected to halve in less than two months, and investors are seeing 600% returns in some cases, due to a pre-halving pump.
Upon halving on August 6, 2019 (the “halvening”), LTC miners will get half the block rewards for validating the Litecoin blockchain. The speculation surrounding this halving took Litecoin out of a deep bear market where it was trading around $20, to a price that’s nearly $140 USD today.
Bitcoin broke the $8,000 barrier again, and if it holds, it’s possible that Litecoin and other cryptocurrencies may follow.
Dennis Consorte has an appetite for news and information about cryptocurrencies, blockchain, IoT, fintech, adtech, martech and other technologies. He also has over 20 years’ experience in digital marketing and content strategy.
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