Topic: What factors contributed to the absence of price change after the Litecoin halvi - page 2. (Read 223 times)
August 08, 2023, 11:05:03 AM
Halving itself is not a 100% catalyst for a price increase. The market is organized in such a way that one and the same event can affect the coin both up and down. It all depends on what period of the market this news appears. Now in the market there is a lull, the period of summer vacations, liquidity and volatility are at minimums, and the trend is bearish rather than bullish. Due to this we have low demand for altcoins, now it is unlikely that anything will grow, as there is not much money in the crypto market.
August 08, 2023, 10:10:13 AM
Why didn't the Litecoin halving affect the price this time?
It did. It's just not in the direction that you were expecting. The hype effect was already priced in prior to the actual LTC halving as you can also see with the data provided by tsaroz.You'll probably have to wait for BTC to lead the charge before a significant increase in LTC's price happens.
August 08, 2023, 09:47:27 AM
Why didn't the Litecoin halving affect the price this time? In the past, halvings led to higher prices, but now there are no clear results. I'm puzzled about the reasons behind this. Please help me analyze.
Let's watch the previous halving of 2019 for reference to predict current halving results.
Litecoin halved in August 25, 2019.
Six months exact before the halving in February 5, 2019, the price of Litecoin was $34.
Three months before halving in May 5, 2019, the price was $78.
1 month ago it was $120.
On the day of halving, it was $95.
One months later $67.
And a few months after that, it reached as low as $33.
What we see from this is the price increases and is highest a couple of months before the halving and go through significant price loss after halving.
And that is exactly what we saw in 2023.
But what also is true is after two years of halving, it maintained a higher low resistance for rest of it's history.
August 08, 2023, 07:31:44 AM
Why didn't the Litecoin halving affect the price this time? In the past, halvings led to higher prices, but now there are no clear results. I'm puzzled about the reasons behind this. Please help me analyze.
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