Forex and Crypto News

Charlie admits the fall of Litecoin after the August halving

11:36 12 July /2019

The creator of Litecoin, Charlie Lee, says that in August 2019, reducing the miner's reward (halving) may affect the cost of Litecoin (LTC).

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 by half 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 mining 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.

In the first half of the year, the coin grew in value, as investors stocked LTC due to the threat of a cryptocurrency deficit after the August halving. However, Litecoin couldn’t 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 by launching new services and options that improve the performance of the blockchain.


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According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov

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