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Die bullischen Argumente für Litecoin verstärken sich, da die LTC-Halbierung näher rückt

Litecoin (LTC) is currently going through a downtrend, just like the rest of the cryptocurrency market, but what sets it apart from the others is its apparent upward trend. Compared to the rest of the market, Litecoin is expected to experience another rally, likely driven by its upcoming halving.

Similar to Bitcoin, Litecoin's halving occurs every four years and reduces block rewards by 50%. The aim is to reduce the volume of new supply entering the market. If demand increases while supply decreases, it leads to scarcity and a rise in price.

Litecoin's next halving is just around the corner, with only about three months remaining. This halving, like previous ones, is expected to lead to a recovery for the digital asset. During the last halving in 2019, the LTC price hit its lowest point at around $62 and then recovered to a local high of $80 in the same month.

If this year's halving follows the same trend, there is potential for an upward trend in Litecoin's price in the coming months. This could lead to LTC once again surpassing the $100 mark as investors prepare for the next surge.

At this time, a 20% increase is possible, particularly since the halving is expected to take place in early August. It is highly likely that buyers will dominate the market in the next two months, leading to rising prices for Litecoin.

Looking ahead to 2023, the outlook for Litecoin is not favourable. While the upcoming halving is a bullish event, the historic performance after halvings has not been as positive. After each halving, LTC experienced a shift in sentiment and the subsequent drops were more brutal than the upward trends. In 2019, for example, the LTC price crashed almost 50% in September, a month after the halving was completed, because the bull market had not yet begun.

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Based on this historic performance, the best time for profit taking appears to be the end of August, after the asset has risen by around 30%. The window of opportunity closes with September, historically a bearish month for cryptocurrencies.

At the time of writing this article, LTC is trading at $87.11, representing a 3.22% increase on the last day.

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