Renowned for Accurate Bitcoin Estimates, Company Releases Altcoin Report – The latest subcoin report of SFOX, which is renowned for its accurate predictions of the Bitcoin price trend, has been published and let's examine what it says about it. SFOX, a crypto currency vendor for investors and corporations, has released a new volatility report, stating that the upcoming Litecoin (LTC) halving event will increase the volatility in the price of the fourth largest digital asset. Litecoin will testify to the halving event as soon as possible on August 5th.

Can Litecoin halving effectiveness affect price?

SFOX, a company that deals with crypto currencies and corporate investors, has published a new report on key issues related to the fluctuations in the crypto currency market and subcoins. The US Commodity Trading Commission (CFTC) addressed a number of different issues, including the Bitcoin SV (BSV) upgrade, Litecoin's halving event at the end of July, Facebook's Libra, LedgerX and ErisX approval.

Proof of Work (PoW) digital currencies, such as Litecoin or Bitcoin (BTC), require miners to process mining with processing power. People and companies that perform these activities tend to be very profitable if they have efficient facilities, low temperatures and cheap electricity. Litecoin miners and miners in other networks are rewarded with crypto coins every time they are traded one block at a time. It is therefore very important to address the upcoming Litecoin halving event.

Price of popular altcoin may be affected by volatility

Every four years, the rewards awarded to Litecoin and Bitcoin miners are reduced by 50%, meaning miners will earn 12.5 LTC per block instead of 25 LTCs as they have done so far. With the reduction of the new number of Litecoin and the increasing interest of investors and users, the price of the digital currency may be affected by volatility. SFOX commented on this topic:

Although the market has already priced the price of this decline in the new LTC rate added to LTC's total supply, it is theoretically possible to see more volatility as the effectiveness of LTC grows further.

At previous Bitcoin and Litecoin halving events, the price of these crypto currencies increased compared to the months before the halving event. A few months later, the price of these digital assets also reacted positively.

SFOX approved: Silver Bitcoin is expected to rise in price

The crypto currency market seems to be waging a bull war in 2018, which is very negative for digital assets. The low LTC issuance and more interest in this crypto currency, known as Charlie Silver Bitcoin tarafından by Charlie Lee, is expected to increase the price. When writing this article, Litecoin is the fourth largest crypt with a market value of $ 6.3 billion and a price per 100.1 LTC, according to data provided by CoinMarketCap. In the last 24 hours, LTC has seen a 2 percent depreciation.

Follow us on Twitter and join our Telegram channel to stay up to date on the latest news!

What do you think?

0 points
Upvote Downvote

Hacker Noon Product Development Discussion with Product Team

Software estimation is easy!