The Next Litecoin Halving In 2020-2023 Explained !!
- Are you looking to invest in Litecoin?
- Are you speculating a price increase in Litecoin?
- Do you want to know about the next LTC halving?
Well, if so, then you are in the right place.
Litecoin price might increase in the coming months due to its scheduled halving in 2019, and that’s a perfect reason to invest in it.
For the first-timers:
Litecoin is an open-source and decentralized cryptocurrency like Bitcoin which was designed by Charlie Lee-the creator of Litecoin in 2011.
Litecoin is also considered to be the silver to Bitcoin’s gold and serves as a testbed for Bitcoin growth in the future.
And that’s exactly Litecoin has done so far and has served as a testbed for Bitcoin while implementing Segwit and now Lightning on Bitcoin’s blockchain.
But Litecoin over the years has created its network effect also and has fostered its ecosystem with miners, developers, and users.
Litecoin is one of the most widely used payment cryptocurrency and is counted amongst Bitcoin, Bitcoin Cash, and DASH. Also, it is one of those cryptocurrencies that will survive in the next 5 years !!
Moreover, it has maintained an average of 25k transactions every day for the last 12 months which is significant achievement and testimony to its usecase.
What Is Litecoin Halving?
But Before explaining Litecoin halving, it is essential to understand halving itself.
Halving is not just specific to Litecoin, but it is quite a common phenomenon that happen with many cryptocurrencies.
In layman terms:
Halving is a 50% reduction in block reward after a certain number of blocks have been mined, and the block reward is the number of coins received in reward by a miner for successfully mining a correct block.
For example: In Bitcoin, a miner mines a successful block every 10 minutes and receives 12.5 BTC as a block reward. After the next halving of Bitcoin, this block reward will get reduced to 6.25 BTC, and this halving in Bitcoin happens after every 210,000 blocks have been mined.
Similarly, at present Litecoin miners mine a Litecoin block every 2.5 minutes and receives 25 LTC as a block reward.
But now after the next halving of Litecoin, this block reward will get halved to 12.5 LTC, and this halving happens after every 840,000 blocks of Litecoin have been mined.
So this is Litecoin halving.
And I know that many of you might be thinking when the next Litecoin halving is?
And why not to think like this because ultimately its the game of demand and supply which is denoting that Litecoin’s supply is going to diminish and positive price action can be expected.
So let’s dwell in it and find out the dates as well as the price prediction of Litecoin after halving…
Litecoin Halving Dates [2019 LTC Halving Date]
Last Litecoin halving took place in August 2015, and it happens every four years.
So by that logic, the next Litecoin halving is slated to happen in August 2019 (ETA date: 08 Aug 2019 22:42:52) and this time the Litecoin’s block reward will get reduced from 25 LTC to 12.5 LTC for the next 840,000 blocks.
Litecoin Halving Price Prediction
With these parameters you can predict the next subsequent halvings and be prepared for it:
|Expect Litecoin Halvings||Tentative Month||Block Reward|
|2019||August 2019||12.5 LTC|
|2023||August 2023||6.25 LTC|
|2027||August 2027||3.125 LTC|
And regarding price predictions, it is tough to say because it all depends upon Bitcoin’s price. If Bitcoin’s price is on a roll and the market sentiment towards cryptocurrencies is positive (which I believe will be), we should expect Litecoin to cross its previous all-time high of $370.
Looking into the 2015 halving also we can say that Litecoin should rise in price because last time it went almost 7x from its original price in July 2015 (a month before the halving).
But how long will it continue?
Well, it should mathematically continue infinitely, and that’s what I am going to explain in the next section.
When Will The Last Litecoin Be Mined?
Mathematically this Litecoin split or Litecoin block reward halving could go on forever, but upon projections, it shows it will be over around the year 2150.
|Block Reward||Block Height||Expect Litecoin Halvings|
But in any case, Litecoin has established itself as a payment cryptocurrency, and as long as overall sentiment towards cryptocurrencies remains positive, Litecoin is going to stay.
- Buy Litecoin Now (Get $10 worth LTC free on a purchase of $100 & above)
Of course, some people speculate that we will have Quantum computers by 2130 to ruin our party, but I think we need not worry about it because by then none of us would be alive.
So that’s all from my side in this heads-up article on upcoming Litecoin halving of 2019. And here is our article on Bitcoin halving too, for Bitcoin lovers !!
Now you tell us: What do you think of Litecoin? And what impact this halving will have on Litecoin’s price? Tell us in the comments below, and we will share that on our social media channels.
If you liked this article, do share it with your friends and family who are interested in Litecoin!!