LiteCoin Expected to Drop Before Hitting All-Time Highs Post-Halving

LiteCoin Expected to Drop Before Hitting All-Time Highs Post-Halving

After months of growth, Litecoin is starting to falter just before its halving at the end of August, but is this merely the calm before the storm?

Speculation is currently rife about the precarious nature of Litecoin after showing steady growth in price over the last few months alongside other major cryptos, reaching highs of $146 in June. However, drops to the mid-$80s over recent days has been a setback for the crypto and its investors.

Where will it go next? Well, Benjamin Blunts, a well-known trader and advisor on social media, thinks he has the answer.

Yesterday in a series of tweets, he described the Litecoin current situation as “interesting”. before explaining “we have a catalyst coming up in a few weeks which is the halving but I feel this will be a sell the news event before a deeper wave C ensues to complete our major w2. So in short, good news is bottom is in, bad news is some more time is needed before we start a new impulsive leg to smash all-time highs”

In a nutshell, in the short-term, both before, during and immediately after the halving Litecoin will take a hit, before recovering dramatically in price in the months after. Is he right? Well, we don’t have long to wait to find out.

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