Could halving Bitcoin follow the same pattern as Litecoin?

In May this year, we will wait for halving the bitcoin’s reward. Analysts and cryptoenthusiasts are engaged in a discussion of what the price and performance of BTC will look like after halving.

Litecoin-like formula

Halving cryptocurrency Litecoin resulted in significant changes in cryptocurrency prices, market capitalization and hash rates. Cryptocurrency investors and enthusiasts predicted then that Litecoin’s reward half-life was similar to Bitcoin’s this year.

Some cryptocommunity individuals are of the opinion that not all market participants are aware of the existence or importance of halving rewards and will act accordingly as the date of halving approaches.

Litecoin’s founder, Charlie Lee, talked to Crypto Lark about Bitcoin, which could follow the same pattern as Litecoin a year ago.

LAST YEAR ON THE LITECOIN, WE SAW THAT THE PRICE WAS RISING BEFORE HALVING ITSELF TOOK PLACE. THIS IS IT. PEOPLE BUY, BECAUSE THEY THINK THE PRICE WILL GET UP AND WILL SELL AFTER HALVING. WE WILL SEE WHAT HAPPENS TO BITCOIN. I THINK BTC WATCHES THE SAME MODE BUT YOU NEVER KNOW WHAT CAN HAPPEN.

If we look at the price development of Bitcoin since last weeks, the price is slowly rising. At the time of writing, the price for BTC is around $ 9,250. Lee further said that no matter what things might happen after halving, there will be many price movements in 2020

Summary

Bitcoin halving will come in May this year. We can expect the market to remain the same as a year ago for Litecoin, where the price rose and fell after halving.