The Litecoin halving event is long gone and some investor got the short end of the stick because their expectations were not met the way they thought.
Litecoin halving event before it actually happened the price actually surge in terms of dollars and a few satoshis, but after it well we all know the answer, today few Litecoin are being produce and yet the price is still going down, you may way whatever you want but the truth will always set you free and is the truth doesn’t set you free than do it yourself.
Expectation were not met and probably the price of Litecoin will continue to go down for a while longer, as a matter of fact I think that a lot of the altcoins may touch again the all-time lows, that is bearish but it looks like altcoins are going that way because of the bitcoin dominance. But bitcoin holder shouln’t be happy about it and actually be concern that altcoins are performing so much worse even when bitcoin is in al bull run or at least a bearish pump.
The fact that Litecoin drop after the event could mark a precedent for Bitcoin next halving, that is the point of this essay. Everyone knows that bitcoin halving is coming and so every investor out there will try to front run it, if Litecoin is any guess of what is to come that means that price will reach new all-time highs just to see fall after or a few days before the bitcoin halving event as well.
You will say that Bitcoin is not some altcoin and that is true, but as today Bitcoin has been used to speculate on price, little to no use into another thing, the store of value thing is just another way to sugar you into holding, maybe in the future but not right now, Bitcoin is still a work in progress, is is not a store of value, it is not being use as a regular medium of exchange, nor of those in a mass scale just yet. But we may be going that way
But in the end my point is that if you already hold well keep on holding because that is coming, if you are about to buy well just don’t di it because of the halving event.
The fact that altcoins are dropping in satoshis value that could help Bitcoin gain some price release in next halving, but the altcoin market is well manipulated by bitcoin whales so it will be no surprise if they fall to previous lows and pump back up or stay there, but I think the best bet is to stay in Bitcoin for the time being.
So, to end, the altcoins dropping and the haling event just a few months away that could signal a strong buy, but if Litecoin halving is a good example that could mean the price may drop just a few day before. In my opinion I would prefer for it to stay in a relative stable price by the end of the event than to see radical movements just to see it crash. That the market will decide how to react to it.
But the actual reality is that in the long term less Bitcoin will be produce so price could go up just because supply will not be enough to meet demand.