Using Google To Help Spot Litecoin Halving Trends
Last updated on November 1st, 2022 at 03:41 pm
There is no doubt that there has been considerable buzz and bullish activity with Litecoin (LTC) in the last month.
While this may well be true, we would argue that LTC has actually led the way until the recent pull back.
Most analysists would probably call this a ‘healthy retracement.’ The coin has already seen quite a bit of growth in recent weeks — so much so that it brought some investors up to 600% returns before its price saw a correction.
But regardless, one of the biggest topics in the crypto industry these days is the upcoming rally that LTC’s proponents insist will take Litecoin’s price to the moon.
Google Searches Mark Bullish Activity
No matter what side of the crypto fence you may be on, the fact is that the recent gains in the price of Litecoin brought the coin to the attention of many others inside and outside of the space.
As usual, people started making inquiries regarding the coin, and most did it through Google.
This makes Google Trends — a tool used for discovering details about the popularity of searched terms — quite useful.
The tool can be used to assess the amount of interest in cryptocurrency as a whole and Litecoin in particular, and according to current data — that interest is skyrocketing.
Crypto analysts believe that this indicates that the coin’s pre-halving surge still has the time to continue.
While past performance is not an indicator of future activity… Litecoin is following pretty much the similar pattern of any crypto before a halving event, including its own previous halving’s.
The coin’s price surges, which brings it to the attention of more investors. The investors then investigate the coin, which leads to the surge of interest on Google, which, in turn, is followed by another price growth.
This cycle continues until the halving itself arrives, after which people tend to lose interest, investors take their profits and the price crashes from its artificial heights back to normal.
At this point, most analysts do not believe that Litecoin has reached its peak. In other words, the rally should continue.
Litecoin’s halving is expected to arrive in early August of this year.
Even though the closer we get to this event may signal the end to LTC’s rally, there is likely still time for investors to get some amazing gains. Armed with this hope, many are looking to seize on bullish activity throughout June and July.
Meanwhile, Google Trends stats do show a massive spike in interest when it comes to Litecoin, similarly to what was seen back in 2015 when Bitcoin was approaching its own halving.
As a result, a lot of investors have started tracking Google Trends statistics in hopes of capturing the exact moment when the hype will end.
Basically using this information to try and predict the top of the market so they can start selling their LTC.
Soon after, the inevitable drop in the coin’s price will start… some are starting to put out their predictions… many believe a major drop will ensure, perhaps up to 70%.
Litecoin Block Rewards
As many are likely aware of, the halving refers to the drop in block rewards, which are cut in half whenever a certain number of blocks have been mined. This occurs on a pre-determined basis, usually with several years between halvings.
Litecoin’s current block rewards are 25 LTC per block. After the halving in August, the rewards will drop to 12.5 LTC per block.
So, if all of this speculation is correct and Litecoin follows a similar bear-to-bull transition as it did in 2015/2016 there may still be opportunities to make profits. If you’re willing to use it as one of your investigative tools, Google Trends may help determine when exactly to start selling to achieve the best results.
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