Litecoin Hashrate Drops to 40%, Is the Recent Reward Halving Responsible?

Litecoin hashrate has dropped to 40%, implying miners are leaving the network. The reason for the same is likely to be the halving of the block reward on the 5th of August. 
LTC Lost 30% of its Mining Power in August
The month of August saw hashrate on the network dropping from 523 TH/s to a low 295 H/s. Further, the network lost 30% of its mining power in August. While LTC continues to maintain its position among leading altcoins, due to high liquidity and its good performance this year, the drastic drop in hashrate is not good news for the crypto asset. 
On August 5, the block reward fell from 25 LTC to 12.5 LTC. It caused a spike in the price and it reached $140 only to plummet to $69.22 soon after. 
Source- CoinMarketCap
Per a recent tweet by leading rating provider, Weiss Crypto Ratings, halving could leave Litecoin vulnerable to attacks, further, explaining that halving might not necessarily lead to a price increase but can, unfortunately, lead to miners leaving the network. 
With that being said, a twitter user with the handle “Nick Rodriguez” said that this move will make way for efficient miners and it will serve a good purpose in the long run. 
While another crypto user with handle” logart” said that while halving had its perils, it does not imply that the prices will never recover. 
Negative Attitude Towards Altcoins 
Notwithstanding, the drop in price and the vulnerable position that the platform is in after halving, a negative attitude towards altcoins is also a key factor for a weak LTC market price. Furthermore, the crypto was a victim was of “dusting attack” on the 10th of August, just 5 days after the Litecoin underwent reward halving. In such a hacking attempt, the hacker sends a small/tiny amount of cryptocurrency to user’s personal wallets and then tries to track the transactional activity of each of the addresses. 
Mining Litecoin is also not as profitable as the obsolete L3 miner no longer serves the purpose and provides no competitive edge for block discovery. Also, 12.5 LTC per block is too small an amount for miners to continue their mining operations, keeping in mind the electricity costs incurred in mining. 
Previously, Litecoin gained infamy for its lack of innovative practices and it seems the coin has yet again reached a stagnation stage after a year or more of active innovations and publicity. 
While achievements such as atomic swaps and Litecoin Lightning Network did create a hype, in the present case scenario they are not helping Litecoin. Will Litecoin bounce back or will it fail to recover? Let us know your views!
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Source: CoinGape

Litecoin Price Rises 4% as Litecoin Foundation Announced Physical Debit Card

Litecoin Price Rises 4% as Litecoin Foundation Announced Physical Debit Card
The Litecoin Foundation has teamed up with Bibox Exchange and Ternio to bring customers a special edition Litecoin BlockCard, which will allow customers to purchase goods and services with crypto. LTC price adds 4% amid the news.
Litecoin Price Rises 4% as Litecoin Foundation Announced Physical Debit Card

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Source: CoinSpeaker

Litecoin Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet

Throughout most of 2019, Litecoin – the cryptocurrency forked from Bitcoin’s codebase by former Google programmer Charlie Lee – has led the entire crypto space out of the depths of the longest bear market on record. Much of the bullish sentiment surrounding Litecoin price is being driven by pre-halving speculation. Profit-hungry crypto investors have been buying up Litecoin ahead of a potential price increase.
But with Litecoin’s halving less than 60 days away, and with the asset nearing 600% returns for investors who boldly took a risk and bought the bottom back in December in anticipation of the pre-halving pump, the rally may soon be running out of steam. One crypto analyst believes that Litecoin price still has room to climb, but has issued an ominous warning that a potential 73% drop could be ahead in the coming days.
Crypto Trader Expects LTC/BTC Ratio to Hit 0.034 In Pre-Halving Spike
Litecoin often leads the crypto market. And ahead of its halving, most of the crypto community has considered the silver to Bitcoin’s digital gold to be a “no brainer” of an investment.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher? 
Each halving reduces the block reward miners receive for validating the blockchain. Come this August, the amount of LTC miners receive will be reduced from 25 LTC – approximately $3,475 at current prices – to 12.5 LTC, also reducing the USD equivalent value miners receive for the same amount of effort.
The abrupt shift in the balance of supply and demand, investors believe, creates an increase in price that often gets front run.
That front-running has helped take the price of Litecoin from a bear market low of near $20 to a 600% return as the price nears $140 in the LTC/USD trading pair.
— Master litecoin ATH incoming (@xtdisnkfe) June 12, 2019

In the LTC/BTC pair, one prominent crypto analyst believes a massive, multi-month cup and handle formation will take the ratio to a target of 0.34 once the formation confirms. If Bitcoin price stays around $8,000, this would bring Litecoin price to roughly $270. If Bitcoin is to climb higher alongside Litecoin while it surges even higher on the ratio, Litecoin could potentially paint new all-time highs in USD value.

10 Days Left of Litecoin Price Pump, Secure Profits Ahead of 73% Drop
If the halving truly was already front run as many crypto investors believe, risk increases by the day that the earliest buyers will begin securing profits, which will stop the rally dead in its tracks and cause a powerful correction.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer” 
The same crypto analyst that has lofty price targets for LTC/USD and LTC/BTC and has been accurate in his predictions thus far, believes there are only 10 days left in the rally before the tides sharply turn.

I think we have about 10 more days of litecoin pumping…
I’ve started to move some out of litecoin into bitcoin
If you look at 2015 45 days before they halving the price peaked and drop 73% be aware
45 days will be June 22
Protect some of your profits especially if your new
— Master litecoin ATH incoming (@xtdisnkfe) June 11, 2019

According to the last Litecoin halving back in 2015, the final days leading up to the halving caused Litecoin to absolutely moon, doubling in value relative to Bitcoin. Immediately after buyers began taking profits, Litecoin price fell 73%, as early investors dumped on those FOMOing in too late.
That dump occurred 45 days ahead of Litecoin’s last halving. The next halving is in less than 55 days. When will you secure Litecoin pre-halving profits? Or will you be left holding a bag?
Featured image by Shutterstock
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Source: New

Crypto World Is Bullish on Litecoin Price, But Was Halving Rally Already Front Run?

Since the start of 2019, Litecoin has been the light leading the crypto market out of its bearish tunnel and into a new bullish rally. After bear market lows were set around $20, the crypto asset has since went on to provide investors with 500% returns.
While many expect that Litecoin has only gotten started, and is a “no brainer” investment ahead of its upcoming halving, others conclude that the silver to Bitcoin’s digital gold could have already had its pre-halving rally front run, and further gains to the upside will be limited. In fact, some crypto analysts believe that not only has Litecoin price run out of steam, but the asset could plummet in the coming weeks despite hype surrounding the halving.
Crypto Analysts Majorly Bullish On Litecoin After Reaching “Fresh Highs”
With Litecoin’s halving less than 60 days away, all corners of the cryptosphere are bullish on the cryptocurrency designed by Charlie Lee.

Monsterously bullish on litecoin
1. Inverted head & shoulders2. Cup & handle 3. Previously parabolic July 2015
3 best litecoin charts
Find me a better one
Retweet $ltcbtc #litecoinhalving #ltc@TheCryptoDog @PeterLBrandt @APompliano @filbfilb @cryptorecruitr
— Master (@xtdisnkfe) June 9, 2019

Crypto analysts claim the digital currency displays one of the best charts across the market, but on its LTC/USD and LTC/BTC trading pairs. On the “ratio” Litecoin, a cup and handle or a inverse head and shoulders are forming – both bullish price patterns.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer” 
The bullish sentiment has led to “fresh highs” in Litecoin, but the majority of it is driven by pre-halving hype.

Fresh highs for $LTC.
— Mati Greenspan (@MatiGreenspan) June 10, 2019

Litecoin’s halving will see the block reward miners receive for securing the network and validating blocks cut in half – hence the “halving” name – to just 12.5 LTC. Such an event tends to offset supply and demand of the asset, and is an event that investors front run in anticipation of enormous gains.

But Has the Pre-Halving Rally Already Been Front-Run?
Since Litecoin’s low near $20, the crypto asset has brought those willing to take a risk in the depths of the bear market incredible gains of 500%. And although the entire crypto market is bullish on Litecoin, the fact it’s already posted such gains could mean that it’s got little fuel left in its rocket to reach the highs crypto analysts are calling for.

RW + bear div
death looking imminent
support near 55-70
article on Chikun coming later this week for @bravenewcoin
— Josh Olszewicz (@CarpeNoctom) June 10, 2019

Instead, a large bearish divergence on the one-day LTC/USD price chart accompanied by an ascending wedge formation, could send the price of the asset back down to support near $55 to $70, claims crypto analyst, Josh Olszewicz.

The porfolio of people that fomo buy $LTC in July will probably halven too
— Walter Wyckoff (@walter_wyckoff) June 10, 2019

His theory is supported by a select few other contrarian and risk-averse traders and analysts, who warn that not only will Litecoin “halven” in the days ahead, so will the capital of Litecoin investors.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher?
If Litecoin price halvens, and not just the supply miners receive for each block reward, it would put the price target in line with the support levels on the price chart.
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Source: New

Litecoin Leads The Way: Does LTC/BTC Price Chart Hint at Bitcoin Correction Target?

Throughout 2019, the entire crypto market has been led by the silver to Bitcoin being digital gold, Litecoin. The crypto asset’s halving is in less than 70 days, and investors are eagerly loading up their bags in anticipation of the pre-halving pump that’s become a meme across the crypto community.
Since Litecoin often leads rallies, dragging other crypto assets along for the ride, price charts of the asset paired against BTC could be telling as to where the Bitcoin price may be targeting if the parabolic rally is truly over and a short-term downtrend is ahead.
LTC/BTC Chart Could Show Sub-$5K Bitcoin Price Target
At the start of 2019, it was Litecoin that led the initial crypto rally out of the depths of the bear market. During that time, some altcoins had been exploding in value relative to BTC prompting many crypto investors to believe an alt season had been brewing. They were wrong.
Once Bitcoin breached resistance at $4,200 sparking a massive rally in the first ever crypto asset, altcoins diverged and dropped in value significantly relative to their BTC counterpart. The bleeding led to many altcoins reaching new bear market lows in BTC value.
Related Reading | Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher?
Now that Bitcoin’s rally is seemingly over following yesterday’s violent rejection at $9,000 that sent Bitcoin downward to retest support at $8,000, crypto analysts are looking to price charts in an attempt to determine the targets for Bitcoin’s short-term downtrend. One analyst, Bitcoin Jack, believes there are similarities between Bitcoin’s price chart and the LTC/BTC chart that could be telling about where Bitcoin may be headed.

I wonder if Bitcoin will follow a similar structure as LTCBTC
— Bitcoin 𝕵ack (@BTC_JackSparrow) May 31, 2019

In the charts, Litecoin painted a bottoming pattern, then rallied through two levels of resistance higher, followed by a rejection at the third level that resulted in a retest of the first resistance turned support. This would place Bitcoin’s short-term correction target at roughly $4,700, according to the above the pattern on the LTC/BTC chart.
Parabolic Rally Correction Was Long Overdue
As the saying goes, what goes up must come down. And after Bitcoin’s parabolic rally that took the price up well over 100% in the matter of two months, crypto investors, traders, and analysts have been anticipating a somewhat large correction.
Related Reading | Crypto Analyst: Litecoin is a “No Brainer”
While Bitcoin declines, it could present an opportunity for that alt season to rear its head once again. BTC dominance has broken through support, and while there was a bounce yesterday, BTC dominance is expected to drop further, giving altcoins room to shine once again. And with Litecoin’s halving just ahead, all of the conditions are right for Litecoin to lead the crypto market recovery.
However, at times, Bitcoin price falling often pulls the value of altcoins down along with it. Should that happen, altcoins could reach further lows while Bitcoin finds support outside of the bear market depths.
Featured image from Shutterstock
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Source: New

Upcoming Litecoin Halving Expected to Bring a New Price Leap

Upcoming Litecoin Halving Expected to Bring a New Price Leap
The nearest Litecoin halving is set to occur in 69 days when the number of generated Litecoin rewards per block will be halved. Amid the event, experts are predicting a new price rally on the whole crypto market.
Upcoming Litecoin Halving Expected to Bring a New Price Leap

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Source: CoinSpeaker

Can Litecoin Halving Spark Crypto Alt Season and Boost Bitcoin Price Higher?

Each halving in Bitcoin is typically front run by a bull cycle, where the price of the leading cryptocurrency by market cap experiences rapid volume expansion and price mark up. The digital silver to Bitcoin’s digital gold, Litecoin, also experiences such a phenomenon ahead of its halving – an event scheduled at regular intervals that reduces the block reward miners receive for validating the network.
With Litecoin’s halving in less than 70 days away, the market is watching the #5 ranked cryptocurrency to see if it once again carries the market higher. The last time Litecoin caused the entire crypto market to rally, it was the catalyst that helped put in Bitcoin’s bear market bottom and sparked a mini alt season. Will Litecoin once again spawn an all-out alt season and help Bitcoin’s parabolic move trend even higher?
Litecoin Breaks $100 Again, Confirms As Support, Off to the Races?
The crypto market is becoming increasingly bullish on Litecoin as the crypto asset nears closer and closer to its halving – an upcoming event in which the Litecoin supply is diminished. The halving, which will see the block reward miners receive cut in half, taking the reward from 25 LTC to just 12.5 LTC.
Related Reading | Will Litecoin (LTC) Rally to $1,000 After August 2019 Halving?
In the past, these halving events are typically front run as investors anticipate an offsetting of supply and demand that drives the price of these scarce, hard-capped, deflationary assets to skyrocket in short order.

Here comes the halving FOMO, c'mon my little chickun. $ltc time is here! #Litecoin
PS, if the market follows litecoin again we are in good shape!
— Shardi B, #CryptoSlut (@ShardiB2) May 24, 2019

Crypto analysts and traders who are watching Litecoin price charts are calling for the confirmation of cup and handle formations to play out, taking the price of the digital asset as much as 50% higher in anticipation of the upcoming halving.

we are good to buy on this spot OR NOT ?halving is realy near $ltc august 6 is the $ltc halving
— mocho17® (@cryptomocho) May 19, 2019

Today, Litecoin broke up above $100 once again, which it is now currently retesting to confirm as support.

I see $LTC just broke $100.
— Moon Overlord (@MoonOverlord) May 24, 2019

The bullish price action in Litecoin has been enough to lead the entire crypto market into a recovery following this week’s bleeding out across most trading pairs.

#Litecoin $LTC continues to lead the #crypto market, including #Bitcoin $BTC. Follow the #chikun.
— [₡ryptocasca] (@cryptocasca) May 24, 2019

Litecoin also helped to drag the price of Bitcoin higher with the #1 cryptocurrency by market cap reaching above $8,000 once again, but continuing to struggle with overhead resistance at $8,100.

#Litecoin about to single-handedly drag $BTC out of this price range to new highs $LTC $BTC $crypto
— Crypto₿anksy (@BanksyCrypto) May 24, 2019

While the #5 ranked cryptocurrency was able to help Bitcoin continue to climb higher, Litecoin itself has gained 10% against the BTC ratio on the LTC/BTC trading pair. Against USD the LTC pair is in a clear, valid uptrend.

$LTC #Coinbase#TAtip: General rule in TA, it takes two points to draw a trend-line, a third to confirm validity.
— Cow Jones (@CryptoCowJones) May 24, 2019

The reason behind Litecoin dominance increasing relative to Bitcoin, is due to the closer proximity of Litecoin’s halving, which is fueling the positive sentiment.

$LTC not going long into resistance but will be slowing starting to add to my bag as we head straight towards the next halving in roughly 75 days for #litecoin.
Wouldn't expect something crazy but likely price will follow speculation and hype as we get closer to 6th august 2019.
— TheCryptoCactus (@TheCryptoCactus) May 22, 2019

Those that are overly bullish on Litecoin have to look no further than previous halving to justify their positions. In the past, price rose rapidly ahead of each halving. There’s also a potential fractal playing out, according to some traders.

$LTC Imagine this fractal plays out… #crypto #altcoin
— [ FXD ] (@Liquidityhunt) May 20, 2019

Most analysts have targets for the altcoin somewhere upwards of $150 and higher. For the ratio, traders are targeting 0.02 or higher.
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Source: New

Litecoin (LTC) Price Watch: Is That a Double Bottom?

Litecoin Price Key Highlights

Litecoin price could be done with its drop as a double bottom may be forming on the 4-hour chart.
Technical indicators are showing mixed signals at the moment as selling pressure remains present.
A break past the neckline at $70 could lead to a rally that’s the same height as the chart formation.

Litecoin could be in for a reversal from its slide as a double bottom can be seen on its 4-hour chart, awaiting confirmation.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA to suggest that the path of least resistance is to the upside. In other words, the uptrend is more likely to resume than to reverse. However, the gap is pretty narrow so a bearish crossover might be possible while these moving averages also hold as dynamic resistance.
In that case, another test of support around the $48 level could take place. Stronger selling pressure could even spur a break below this level and a continuation of the longer-term downtrend. A break past the moving averages could pave the way for a test of $70.
This would make the double bottom around $22 in height, which suggests that confirmation could spur a rally of the same height. However, RSI is turning south from the overbought zone to signal a return in bearish pressure. Similarly stochastic is heading south so a pickup in selling pressure is due.
LTCUSD Chart from TradingView
Cryptocurrencies seem off to a positive start for the week, though, as there have been no negative reports over the weekend. In fact, the previous trading week ended on a good note with a report suggesting that blockchain industries could add $1 trillion to global trade over the next ten years. With that, market participants appear to be turning their attention back to institutional interest and more M&A activity in the space.
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Source: New