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Litecoin Surges 43%
Summary: Litecoin is faring well in the aftermath of the FTX collapse, having surged 43% from $55 to $79 this month, according to data by CoinDesk. Litecoin’s bullish turn, which comes eight months before its third mining reward halving, is reminiscent of its previous halvings in 2015 and 2019, during which there was a bearish-to-bullish trend ...
Litecoin is faring well in the aftermath of the FTX collapse, having surged 43% from $55 to $79 this month, according to data by CoinDesk.
Litecoin’s bullish turn, which comes eight months before its third mining reward halving, is reminiscent of its previous halvings in 2015 and 2019, during which there was a bearish-to-bullish trend in the months leading up to the halvings.
The recent surge may be explained by a tendency for crypto traders to price according to bearish/bullish trends in advance, as has been the case in previous halvenings.
Author: Tris Bell
