This forgotten coin could surprise everyone before its next halving
Key takeaways
- Traders may want to keep an eye on LTC$41.84 in the coming weeks and months.
- Litecoin's fourth reward halving is due around July 27, 2027 when the payment will drop by 50% to 3.125 LTC.
- LTC bottomed in late June 2022 at around $40, just over a year before the third halving on Aug. 2, 2023.
Traders may want to keep an eye on LTC$41.84 in the coming weeks and months. One of the earliest altcoins, LTC may see bullish price action, potentially outperforming the broader market, including bitcoin BTC$62,537.55.
Litecoin's fourth reward halving is due around July 27, 2027 when the payment will drop by 50% to 3.125 LTC. Litecoin has a peculiar tendency to bottom out anywhere between six to 12 months before the event.
LTC bottomed in late June 2022 at around $40, just over a year before the third halving on Aug. 2, 2023. In the intervening period, it rallied to as high as $114 by July 2023, only to pull back to $80 in the lead-up to the event. In November 2022, the month that crypto exchange FTX collapsed and pulled down the wider market, litecoin actually rose more than 40%.