Litecoin has carried out two token rewards halvings in 2015 and 2019 and it preparing for the third round which should take place on August 5, 2023, in an event that occurs once every four years. Halving is an event to reduce the LTC rewards per block to half which means that users get half the number of LTC for mining each block. The objective of halving is to keep or increase the value of the LTC coin and preserve the purchasing power of the asset.

LTC/USD Factors Affecting Litecoin Prices

The sentiment in LTC has been bearish since May 2021, when it briefly popped above $1,000. The bearish reversal in the crypto market since November 2021, has been helping keep LTC down as well. Although Litecoin performed better during 2022 than most of the crypto market and in the second half of the year it kept making higher lows, which is a bullish sign. The first two halvings have helped push LTC higher and this event should offer a similar price action.