In the next few days, the Litecoin halving will happen. About 3 days and 16 hours according to Litecoin Block Reward. Litecoin and bitcoin as you probably know are quite similar from a technical perspective. Because they are so similar, it is possible the impacts of the halving might be similar from Litecoin to bitcoin. But what impact will the halvening have on bitcoin? Bitcoin’s past may be able to help us learn about the future.
From the point bitcoin was worth 1,200 dollars a coin to now, the price of bitcoin has been generally bearish, or in other words, has lowered. Why is this? Well one reason is the process in which new bitcoins are created, mining. When new coins are mined, they are added to the the market. To maintain the same price per coin, more money has to be added to the system. So when bitcoin was worth a thousand dollars a coin, every 10 minutes twenty-five new coins would be mined, and 25,000 dollars needed to be added to the system to maintain the $1,000 price.
But, 25 bitcoins won’t always be the amount of new bitcoins created per block. On July 27, 2016 at 12:30:03