Each halving in Bitcoin is typically front run by a bull cycle, where the price of the leading cryptocurrency by market cap experiences rapid volume expansion and price mark up. The digital silver to Bitcoin’s digital gold, Litecoin, also experiences such a phenomenon ahead of its halving – an event scheduled at regular intervals that reduces the block reward miners receive for validating the network.
With Litecoin’s halving in less than 70 days away, the market is watching the #5 ranked cryptocurrency to see if it once again carries the market higher. The last time Litecoin caused the entire crypto market to rally, it was the catalyst that helped put in Bitcoin’s bear market bottom and sparked a mini alt season. Will Litecoin once again spawn an all-out alt season and help Bitcoin’s parabolic move trend even higher?