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.
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. Read More at NewsBTC...