Litecoin Price Spikes 357% in 2019 and Momentum Isn?t Dead Yet

Home » Altcoin News » Litecoin Price Spikes 357% in 2019 and Momentum Isn’t Dead YetBy CCN Markets: Year-to-date, litecoin price has increased by 357 percent against the U.S. dollar, outperforming every top ten crypto asset in the global market including bitcoin, Ethereum, and EOS.The litecoin price has increased by another eight percent in the past 24 hours (coinmarketcap.com)The consistent increase in the value of the crypto asset is said to have been triggered by the anticipation of its block reward halving that is expected to occur in about two months.Crypto assets based on proof-of-work (PoW) blockchain networks that involve mining in the likes of bitcoin and litecoin go through a mechanism called halving every four years, an event that reduces the rate of the production of the assets by miners.Litecoin is the only major crypto asset to match the performance of bitcoin since the 2017 bull market.Subsequent to achieving an all-time high at $20,000, the bitcoin price has dropped to $8,000, recording a decline of around 60 percent.