Traders may want to keep an eye on in the coming weeks and months. One of the earliest altcoins, LTC may see bullish price action, potentially outperforming the broader market, including bitcoin .
Here’s why.
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.
The evidence is there.
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%.
A similar pattern played out before the first two halvings. In each case, LTC bottomed out months beforehand, rallied and then dropped back a bit into the event. (Check the Daily Signal)
If history holds true, that means litecoin could find a bottom any time now.