Here are some reasons why Litecoin may be decreasing ¹ ²:
- The Bitcoin blockchain is congested, causing everyone to compete to get their transactions into the next block and pay more fees.
- The mining algorithms of Litecoin and Bitcoin are different, making Bitcoin mining more like an arms race.
- The halving event in August 2023 was supposed to result in massive price appreciation, but it did not.
- Litecoin does not have a set exchange rate, so its price is fully determined by the market's perceived value by supply and demand.
- The long-term outlook for Litecoin is much cloudier than many would have expected at the start of the year.
