It seems that the “countdown” for litecoin started and in just a few hours when it would have mined the block under number 1 680 000 in the LTC blockchain will be halving – reducing the rewards for the miners (issue of coins).
Why need having LTC?
Almost all decentralized cryptocurrency every 4 years undergo a process of halving to better control the supply and demand for them.
What exactly does having LTC?
After halving the reward for each mined block is halved. If the current reward for each mined block is litecoin 25 LTC, after halving miners will start to receive half is 12.5 LTC.
As halving should affect the price?
It is believed that the price of LTC should rise after halving will happen, and then many miners may decide that for them, such mining is already not profitable. However, the growth in the value of litecoin may not happen as fast as we would like.
Forecasts in the cryptocurrency is known to be a thankless task, and it is difficult to predict how it will behave in LTC in the end.
For example, the Creator of LTC, Charlie Lee, does not exclude that in August would be a reduction of the cost of the coins despite the fact that overall growth is to be expected.
It should also be noted that before halving, 17-18 July 2019, litecoin showed a significant “pump” up to 20%. Also in General, the coin has demonstrated excellent growth since the beginning of 2019.
It is assumed that the latest litecoin will be mined around the year 2142, when the treatment will do all 84 million coins. At the moment produced 62 983 450 litecoin.
At the time of writing this post was extracted in the unit 1679962, and until a “tipping point” unit (No. 1 680 000) was only 38 blocks!