Litecoin halving is 13 days away — So where is the LTC price rally?

William Suberg13 hours agoLitecoin halving is 13 days away — So where is the LTC price rally?Going against Bitcoin is a tough pill to swallow for investors in one of the oldest altcoins.5166 Total views63 Total sharesListen to article 0:00Markets NewsJoin us on social networksBitcoin (BTC) is still almost a year away from its next block reward halving, but Litecoin (LTC) miners are already bracing for impact.

In less than two weeks, Litecoin’s block subsidy will drop from 12.5 LTC to 6.25 LTC per block.Whales stock up on LTC — but BTC value stays weak

Despite its fair share of controversy, Litecoin remains the 12th-largest cryptocurrency by market cap at around $6.8 billion.

Its miners currently rake in 7,200 LTC in block rewards daily, equal to around $670,000.

As the halving nears, major investors appear to be seeking an easy trade, with popular trader Mikybull Crypto and others noting “whales” buying up almost $60 million worth of LTC in the past two days.#Litecoin whales have bought over 590,000 #LTC in the last 48 hours, worth around $59 million!

Halving is a few days ahead. pic.twitter.com/L77RB5lLIq— Mikybull Crypto (@MikybullCrypto) July 19, 2023

In BTC terms, however, there appears to be little worth celebrating.

Litecoin currently trades near all-time lows against the largest cryptocurrency, data from Cointelegraph Markets Pro and TradingView shows — a trend that has persisted through the years regardless of previous halvings.

As of July 19, LTC/BTC trades at 0.0031, with its all-time low of 0.0017 coming in June 2022. By contrast, 1 LTC was once worth as much as 0.052 BTC — the equivalent of $1,560 today.LTC/BTC 1-month chart. Source: TradingView

Litecoin’s all-time high in USD came in May 2021, when it traded at over $400 per token vs. its more modest $93 today.Little consolation for Bitcoin forks

In terms of weakness against Bitcoin, Litecoin is far from the worst performer.

Related: Bitcoin price is ‘stuck’ at $30K — Here are 3 reasons why

A popular comparison through the years has been forks of Bitcoin vs. BTC itself, and the results continue to paint a grim picture of the reality of going against the market’s network of choice.

Bitcoin Cash (BCH) saw all-time lows in BTC last month, and despite a bounce since, it remains at just 0.00817 BTC — 98% below its all-time high of 0.432 BTC.BCH/BTC 1-month chart. Source: TradingView

For Bitcoin SV (BSV), the picture is even worse, with a copycat bounce from record lows in June already stalling.

At the time of writing, BSV/BTC traded at 0.00124 BTC — likewise 98% below all-time highs.BSV/BTC 1-month chart. Source: TradingView

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Litecoin# Altcoin# Bitcoin Price# Markets# Halving# Bitcoin Halving# Bitcoin Cash# Bitcoin SV# Litecoin PriceAdd reactionAdd reactionRelated NewsHow to create and sell Bitcoin NFTsBitcoin rally will lead to "speculative blow-off top” in 2024, Mark Yusko predictsBitcoin mining is becoming more environmentally friendlyWhy is Litecoin price up today?Bitcoin forks BCH, BSV and XEC soared last month, but are the gains organic and sustainable?Price analysis 7/12: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT