Litecoin Third Halving Just Happened. Here’s What Google Bard Says about LTC Price

it’s natural to expect bullish Litecoin (LTC) market positively after the recently occurred halving due to its scarcity.

The third Litecoin (LTC) halving event in history has recently taken place, as stated on Twitter by the Litecoin Foundation. Just like the much larger cryptocurrency Bitcoin (BTC) that is talked about much more, these halvings occur every four years. At this point, 11th place out of all cryptocurrencies according toCoinMarketCap is occupied by Litecoin, with fluctuations on its market capitalization around $6.5 billion and around $89 at this present time. These halvings usually come before some immense price events, which is expectedly experienced by April 2024. This network, beginning October 2011, introduced its block rewards sum of 50 LTC. The estimated upcoming halving will arise back in 2142. Meanwhile, Litecoin miners have reportedly dug out 87% of the entire 84 million total coins in the network, as stated by CoinMarketCap.

The occurring of this halving has already reduced the previously-rewarded block sum to miners by half, hence raising and germanely influencing future price dynamics per Litecoin. Additionally, moments like these are seized by traders and investors to accumulation certain coins. Therefore, TimesTabloid decided to consult Google Bard, a Artificial Intelligence (AI) chatbot created by Alphabet, for free advice on further price expectations on Litecoin given the recent halving.

It seems that it’s rather unfeasible to tell how things will go, although three factors have an influence on the price of Litecoin according to this chatbot.

  • The status of the whole cryptocurrency market.
  • The volume of demand.
  • The quantity of LTC available.

If the data relays a positive vibe in the cryptocurrency market, the halving certainly would reflect that sentiment in the Litecoin price. Whereas, a bearish sign in the market can turn quickly turn the tables amidst this event. Moreover, Google Bard pointed towards the joined resolutions of halving i.e. reduction in available supply and growing demand as primary catalysts that could positively drive Litecoin’s price on external factors.

In a nutshell, if increasing demands bolsters LTC’s amount in the market and an optimistic cryptocurrency market surfaces it may hereby result in gratifying price spikes in the Litecoin price after halving.

Robert Wilson author
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