Bitcoin halving has been the topic of discussion in the last few months as we have seen several predictions related to bitcoin halving that what effect it could have on the price value of the leading digital asset.
The next bitcoin halving is not much far away as it will be held in May 2020. The question that is revolving in the crypto community is that would the bitcoin halving follows the pattern of Litecoin halving?
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What Pattern Litecoin halving followed?
The Litecoin halving event took place last year in the month of August 2019. Some analysts say that this halving brought a change in the price value of LTC, its market cap, and its hash rate. Last year, the price value of the coin went up before the start of the Litecoin halving but after the halving event ended, the coin’s value dropped.
In an interview, Charlie Lee the founder of Litecoin said that Bitcoin halving could follow the pattern of Litecoin halving. He said:
With Litecoin last year, we saw the price go up quite a bit before the halving but dropped post the halving. That’s how it is. People were buying because they thought the price would go up and after the halving happened, they just sell… We’ll see what happens with bitcoin… I think Bitcoin will follow the same pattern. But you never know what might happen.
The price value of the world’s leading digital asset has been recovering before the bitcoin halving event but we have yet to see what effect post-bitcoin halving will have on the price of bitcoin as Lee says that in 2020, a lot of price action would happen. Bitcoin halving will happen in the month of May, let’s see to what extent it follows the pattern of Litecoin halving.