Just like in 2019, could litecoin now have to re-take the lead. That is, in the opinion of Willy Woo, an analyst, who is looking at the data from the blockchain. For example, the total power or the number of miners on the network.
More litecoin miners make up for the higher price
And it is precisely these data brings, But the conclusion is, that the litecoin exchange rate will rise. The examiner is looking to see the difficulty that year.
The difficulty-to-date ribbon is a derivative of the level of difficulty for litecoin to mine. A lot of litecoin miners have stopped mining. Therefore, the degree of difficulty in the last six months significantly decreased. But now the difficulty will be the right time to recover, an increasing number of litecoin miners.
And that can be a good thing for the price of a litecoin. As for the difficulty, namely, to rise, to grow up the price.
Litecoin Difficulty Ideal now is in recovery. Should setup for a bullish breakout of the bearish channel. I wouldn’t be surprised if LTC-to-leads is a bullish breakout or a BTC. pic.twitter.com/DRJ5AT65fk
Willy Woo (@woonomic) January 6, 2020
Litecoin denominated in bitcoin, at nearly their lowest point ever
Another point is that, But felt it was the price of a litecoin denominated in bitcoin. According to Woo, has litecoin is almost to the bottom, were found.
And that’s a positive, it means that litecoin the next few days is harder to climb than bitcoin. As we have seen, also, in 2019 at the latest, on the 8th of February, has increased the price of litecoin as bitcoin fell.
That increase had to do with the litecoin block halving. The litecoin block halving will be the reward for litecoin miners is reduced by half. This reduction has been the influx of new litecoin is on the market, and therefore has an influence on the selection. Probably, many investors, litecoin, in the hopes that the currency could continue to rise in the run-up to the halving.
What’s up with the price of litecoin?
As bitcoin begins to litecoin, the time of year, and The lowest value was reached on the 3rd of January, when paid for, you 34,82 euros for a single litecoin. In the meantime, the litecoin price has gone up to 41,20 euros. This represents an increase of 18.3 per cent in a few days time!!!
During the same period rose bitcoin of 6.140 € 7.100 euros, an increase of 15.6 per cent. They have to avoid each other, not a lot, but for the moment it wins the litecoin 😉