Charlie Lee: August can be a bad month for litecoin.

Reducing the miner’s reward (halving) in August 2019 may adversely affect the cost of litecoin (LTC) at the end of the summer. So says the creator of cryptocurrency Charlie Lee.

In one of his recent speeches, he said that August could be an unfortunate month for altcoin, since the interest of miners to this asset will be sharply reduced. Recall the miners reward will be reduced twice from 25 to 12.5 LTC for each mined block.

The profits of the mining pools will fall significantly, which will weaken the interest in the production of altcoin as a whole. Charlie Lee does not exclude such an option in which the activity of the network of litecoin can significantly decrease.

The coin grew in value in the first half of the year, as investors stocked LTC due to the threat of a cryptocurrency deficit after the August halving. However, litecoin could not break through the $ 200 mark, which was expected by many analysts.

Already at the end of June, LTC began to decline due to the fact that many traders were disappointed in the prospects of the coin. At the same time in the crypto-community, some experts said that litecoin had exhausted the potential for maintaining upward movement dynamics.

LTC developers will try to increase interest in this asset through launching new services and options that improve the performance of the blockchain.

Maybe you missed:

1

1 thought on “Charlie Lee: August can be a bad month for litecoin.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: