LTC is digital silver to BTC's digital gold. The Litecoin project is one of the original's of the crypto movement, the team and investors are well connected. This project has worldwide adoption similar to BTC. The mechanics of both these crypto assets are essentially the same, with one major difference. The blocks are written 4 times faster, and the supply is 4 times greater. These features imply, faster confirmation times, and the obvious supply difference.
One of the key factors that drives price, is supply. Economics 101. Value is Supply/Demand. The supply curve of bitcoin and litecoin are deflationary. Meaning Less and less BTC and LTC are mined into existence over time. When successfully mining a block you create currency. currently in litecoin every 2.5 minutes, 12.5 LTC are mined into existence. However, every 4 years the block reward is cut in half. This has obvious upward pressure on price because there is a dramatic cut to the creating rate of this asset. These are the economic impacts of a deflationary store of value crypto asset. There will only be 84 million Litecoin.
The previous LTC halvening happened in 2015. Price rallied in speculation before the halvening. Price made the High 45 days before the halvening. But shortly after found major support, and went into accumulation before creating new all time highs. We are looking for a similar cycle for this asset in the coming months. The Halvening is scheduled to happen in August of 2019. We are seeing a significant push of price in recent times.
LTC is the upper class of reputability as a crypto asset and project as a whole. The current short term technicals are giving the go ahead for accumulation investing strategies. NOT FA, but i recommend dollar cost averaging. I do expect a pullback from speculation that will occur before the halvening in approximately 3 months.
One of the key factors that drives price, is supply. Economics 101. Value is Supply/Demand. The supply curve of bitcoin and litecoin are deflationary. Meaning Less and less BTC and LTC are mined into existence over time. When successfully mining a block you create currency. currently in litecoin every 2.5 minutes, 12.5 LTC are mined into existence. However, every 4 years the block reward is cut in half. This has obvious upward pressure on price because there is a dramatic cut to the creating rate of this asset. These are the economic impacts of a deflationary store of value crypto asset. There will only be 84 million Litecoin.
The previous LTC halvening happened in 2015. Price rallied in speculation before the halvening. Price made the High 45 days before the halvening. But shortly after found major support, and went into accumulation before creating new all time highs. We are looking for a similar cycle for this asset in the coming months. The Halvening is scheduled to happen in August of 2019. We are seeing a significant push of price in recent times.
LTC is the upper class of reputability as a crypto asset and project as a whole. The current short term technicals are giving the go ahead for accumulation investing strategies. NOT FA, but i recommend dollar cost averaging. I do expect a pullback from speculation that will occur before the halvening in approximately 3 months.