Why Litecoin {LTC} may remain unpertubed after halving occurs; IRS shocks HODLers and traders

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Litecoin is ranked at #4 on coinmarketcap, the price of LTC is at $89.30. A decline rate of 5.41% was noted. For now, many of the top altcoins are currently in the red zone, as the bearish presence has continued. The trading volume recorded is $2.589 billion. The total market cap of Litecoin is $5.612 billion. The circulating supply has 62,853,218 LTC tokens in play.

The 2019 Litecoin Summit is scheduled to take place in Nevada. This will undoubtedly attract the attention of institutional investors, as Vegas is known for being the home of The Rich and Powerful in the U.S.

The halving is slated to happen right after the first week of August. Charlie Lee and many LTC HODLers are waiting for this moment, as price is expected to soar. This is not a guarantee. During the first halving event of Bitcoin, the price had remained unaffected even though block rewards for miners were halved.

The difference between the market capitalization of Litecoin and Bitcoin Cash is around $100 million. This signifies that BCH is catching up fast, and LTC needs to show some form of bullish growth in order to maintain its current position.

As Ripple is garnering the support of financial institutions, it seems that the Litecoin Foundation is particularly inclined towards sports. They have sponsored Glory Kickboxing, and the partnership with Miami Dolphins was announced this month as well. This year, LTC has exhibited a remarkable journey, with Binance Coin being the top winner and “Silver 2.0” being not far behind.

I hope that the altcoin crosses the $100 level and reaches beyond $110 before 7th August strikes. Irrespective of how it turns out, adoption for LTC will grow with the passage of time. If you wish to attend the prestigious event in Las Vegas, you can get your tickets right here.

BTC dominance rate is at 64.4% as of this moment.