$LTC dropped to as low as $86 Wednesday afternoon on its anticipated halving day, reaching its lowest price since June 30. The token historically peaked roughly one month before halving, then declined in the following months. sndr_krisztian reports
However, LTC’s price performance of around halvings differs from BTC’s behavior. Whereas bitcoin has tended to move higher following halvings, the pastfor litecoin has seen that crypto peak prior to the event and then sliding lower for months afterward.
“Litecoin’s halving cycle has been one of anticipation, where it troughs and peaks ahead of its halving event," Greg Cipolaro, global head of research at digital asset investment firm NYDIG, wrote in aLitecoin halvings and LTC price In prior halving years, LTC hit a top about four to six weeks ahead of the event, then declined into the halving and found a bottom after, Cipolaro explained.
The token this time surged to as high as $112 on July 3, reaching its highest price for the year roughly one month before the halving. It's down 22% since.
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