Bitcoin’s halving may follow Litecoin’s trend of ‘anticipated rise and collapse’

The cryptocurrency market in 2019 underwent a rough journey, with major cryptos riding the tides one moment, and collapsing the other. Bitcoin, that noted triple digits YTD returns until earlier this year, remained profitable with 86% yield, at press time, to the investors. The price of the coin peaked in 2019 at $13,880 on 26 June, after which it started shrinking in value, but with the 2020 halving approaching, most analysts remain optimistic about the price.

A recent report from Coin Metrics highlighted similar speculation:

“The few historical instances of block reward reductions have been associated with increases in price in Bitcoin and Ethereum within the first 1.5 years of the halving. For this reason, an upcoming block reward reduction is often cited as a reason to be bullish about an asset’s future price appreciation.”

Meanwhile, Litecoin, initially launched as a Bitcoin fork, experienced the second halving event in August 2019, but unlike the…