Posted 2 years ago | by Ben Armstrong
Litecoin Halving Happens. Are We Rich Yet?
Much has been made over the last several months about the run up to the Litecoin Halving. Today, it happened. And if you are waiting for the next one, don't hold your breath because it's a mere 1457 days away.
The "Litecoin Halving" is an event that occurs every 4 years in which the block rewards from mining Litecoin are cut in half. For this cycle, the block rewards were cut from 25 LTC per block mined down to 12.5 LTC per block mined.
Many Litecoin Holders have been disappointed with the price action over the past month leading up to the halving. However, over the last several months, Litecoin has enjoyed one of the biggest altcoin pumps as LTC investors saw the price go from $30 in January to $120 in June.
July saw Litecoin drop back down to around $100. A 4x gain is certainly nothing to complain about, but many were surprised the price did not go up further in anticipation of the halving. However, those few crypto enthusiasts who were here for the last Litecoin Halving remember that it wasn't exactly great for the price.
ok lets see what happened after the last LTC halvening.
— MS2Dr (@mshiros) August 5, 2019
That's a chart that Litecoin holders hope does not repeat itself.
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