Following previous halving events, Litecoin's price tended to rally significantly, with post-halving surges reaching new all-time highs. Analysts predict that Litecoin may hit a new all-time high approximately 400 days after the 2023 halving based on these historical patterns.
Litecoin's price has dropped by over 5% following its third halving event, reducing mining payouts and creating a bearish sentiment in the market. The founder of Litecoin suggests that the decrease in selling pressure from miners may lead to an increase in Litecoin's price if demand remains unchanged. However, recent negative industry news, such as a hack on the decentralized finance platform Curve Finance and rumors of a potential lawsuit against cryptocurrency exchange Binance, have contributed to the market's negative attitude. Despite this, historical patterns suggest that Litecoin's price tends to rally significantly following halving events, potentially reaching new all-time highs approximately 400 days after the 2023 halving.