LTC Halving in under 2 weeks! An overview of previous occurences

The next halving of Litecoin is set to occur on August 2, 2023, where the block reward for mining LTC will be reduced by 50% from 12.5 LTC to 6.25 LTC.

This means that LTC miners will receive half the number of LTC for their mining efforts, effectively controlling the inflation rate of LTC and manage its supply over time. Like #Bitcoin, #Litecoin operates on a deflationary monetary policy.

Most traders view this as a bullish event, but as the chart shows, the halving event is a known event , and has likely already been priced into LTC's current price.

During past halving events, we can see that price started rallying a couple months in advance of the halving. For example, the first LTC halving occurred on August 25, 2015 , however the price actually peaked and had a blow-off top in June 2015. From the previous cycle low, it rallied close to 274% before declining 42% post-halving.

The next halving occurred on August 5, 2019. Once again we see that price actually peaked a couple months prior, in June of 2019. From the cycle low of that year, LTC rallied 440% to a high of $150 before again experiencing a blow-off top and declining 75% back to $35-40.

Although there is not a lot of historical data to go on, we are experiencing a similar situation now,. From low earlier this year of $50 , price rallied 125% to a peak of around $115 a couple of weeks. Last week LTC declined by -16%, and with two weeks to go before the next halving I do believe we have seen the top for now. Going by prior iterations, we could see even further price depreciation, perhaps back to the range lows of $75.