- Rekt Capital predicts that LTC may make new all-time highs 400+ days post-halving.
- Historically, LTC post-halving rallies have been more outstanding than pre-halving rallies.
- LTC post-halving breakout will fall into the period after the 2024 Bitcoin halving.
According to the renowned cryptocurrency trader and analyst Rekt Capital, Litecoin’s (LTC) price may be preparing for a new all-time high (ATH). Rekt based this prediction on the historical behavior of LTC. In a tweet, he predicted that the LTC price may reach a new ATH in over 400 days after the next halving.
In his analysis, Rekt explored the historical behavior of LTC, from which he deduced his prediction. Historically, LTC rallies have been more outstanding after halving events compared to pre-halving price rallies. He notes that 853 days after the first LTC halving occurred, the price rallied by 15,330%. Likewise, 639 days after the second halving, the price rose by 1,562%. On both occasions, new price records were achieved.
Rekt’s LTC price prediction comes amid the usual expectations whenever a halving event is approaching. The next LTC halving is expected to take place sometime in July 2023. This will be the third halving since the cryptocurrency was launched in October 2011.
LTC’s first halving was in August 2015, after which block reward was reduced from 50 LTC to 25 LTC. The second halving took place in August 2019, further reducing block reward to 12.5 LTC. After the next halving in July 2023, the block reward will be slashed again. This time, it will drop to 6.25 LTC.
In a more detailed analysis, Rekt predicts that it could take up to one year after halving before an LTC breakout will happen. According to him, LTC has a historical post-halving range of 458 to 578 days before a breakout. From a broader perspective, he notes that this will fall into the period after the 2024 Bitcoin halving has occurred.
Rekt summarized the LTC price prediction for the coming months into five halving principles. They include pre-halving rallies, local top months pre-halving, strong retrace after local top, post-halving consolidation in the accumulation range, and strong post-halving rallies to new ATHs.
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