Litecoin just halved couple days ago, and hash rate remains 97% but mining-reward get halved.
So to retail miners and small mining companie's profit will decrease, that's why Co-founder of Litecoin said most of small LTC mining business will die and the price will drop much heading to $50.
But we are trader, looking at the chart, I believe LTC can hit $140 this year again.
Some other guys talking like comparing with last year's pattern, previous couple years halving history. But I don't consider it, As a technical anal trader, I only look at the chart and setup the trade.
LTC consolidated quite enough period and now above 1D - 200EMA which means good support on 200EMA line.
Fundamentally depends on supply/demand on crypto especially on Bitcoin, LItecoin, BCHABC are all undervalued.
So to retail miners and small mining companie's profit will decrease, that's why Co-founder of Litecoin said most of small LTC mining business will die and the price will drop much heading to $50.
But we are trader, looking at the chart, I believe LTC can hit $140 this year again.
Some other guys talking like comparing with last year's pattern, previous couple years halving history. But I don't consider it, As a technical anal trader, I only look at the chart and setup the trade.
LTC consolidated quite enough period and now above 1D - 200EMA which means good support on 200EMA line.
Fundamentally depends on supply/demand on crypto especially on Bitcoin, LItecoin, BCHABC are all undervalued.
