Litecoin [LTC] and Bitcoin Cash [BCH] surge by over 6% following announcement of first halving

The cryptocurrency market had taken many major coins on a roller coaster ride over the past week as almost all coins registered gains following the resurgence of Bitcoin. Bitcoin [BTC] saw a massive surge over the past week and so did Litecoin [LTC] and Bitcoin Cash [BCH]. LTC and BCH, at press time, was still surging by over 6% following the announcement of the first halving.

Litecoin [LTC]

Source: CoinMarketCap

At press time, LTC was seeing a spike of 6.80% over the past day. The coin was valued at $93.72, with a market cap of $5.73 billion. LTC registered a percentage increase of 54.98% over the past week, but dipped by 0.23% over the past hour.

According to a report by Ethereum World News, LTC hiked by more than 200% in 2019 and the last low of LTC was noted to be in December 2018. This percentage increase could probably see another push as and when the LTC halving takes place.

Bitcoin Cash [BCH]

Source: CoinMarketCap

Source: CoinMarketCap

BCH saw a rise in its price by 6.76% over the past day, however, dipped by a minimal 0.56% within the past hour, at press time. The progress of the coin over the past week was noted to be of a whopping 84.40% and was valued at $309.66. The market cap of BCH was $5.48 billion, while the 24-hour trading volume was noted to be $2.34 billion.

Bitcoin Cash is scheduled for a block reward halving a month before Bitcoin’s and probably after Litecoin [LTC]. The news of halving has managed to spike the prices of BCH too, and it is speculated that this rise would continue. However, it’s in the nature of the cryptocurrency market to change the trends and undergo strong corrections.

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