Litecoin’s momentum indicators suggest it is an extremely oversold region, indicating that a market bottom is near.
If LTC bottomed out close to $40 four months ago, it might hit a new local top.
Litecoin’s price could rise by up to 200 percent by the middle of next year. The good news is that period would coincide with its third halving event, which would lower block rewards by 50 percent. Since launching in October 2011, Litecoin has undertaken two halvings.
The first was seven years ago and caused a 50 percent reduction in block rewards. The second one happened three years and forced another 50 percent reduction in block rewards. Thus, current block rewards stand at 12.5 LTC.
Coincidentally, each Litecoin halving event usually generates a huge price pump for LTC. However, a price bottom, another similar price correction, then, recovery to a new local top usually follows this massive price pump. This has been the pattern during each of the previous halving events.
Related: Liteco

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