Litecoin (LTC) has been called digital silver various times, and the crypto managed to have quite an impressive comeback from the crypto winter when the coin saw a terrible drop to $23.
Since the price of LTC hit that low, crypto experts have been saying that it was definitely the coin’s bottom.
After that, LTC started to move higher slowly, but surely, and since back then it managed to surge a lot.
Litecoin halving triggers surge
Smartereum online publication writes that one of the potential reasons for LTC’s surge is the coin’s halving. They note that usually, a crypto’s price goes up a lot before the halving event.
They recall that this also happened before the last Bitcoin halving as well and now, before the Litecoin one.
The online magazine brings up the latest LTC prediction of CCN which suggests that LTC can go up to $220 in less than three months.
LTC to hit the $220 mark?
The online publication said that the coin is poised to reach $220. According to the price prediction, the price of this digital asset will surge to $220 due to the highly anticipated halving event.
The event means that the block reward miners will get reduced to 12.2 from 25.
“The Litecoin halving will lead to reduced inflation, the anticipation of a price increase after the halving from investors, and increased buying pressure which amounts to a surge in price,” Smartereum writes.
This massive announcement is the most recent attempt to make the crypto transaction process much easier and bring digital assets closer to people, trying to make the mass adoption of digital assets a reality.