Litecoin Block Halving Aftereffects and Theories
So, the litecoin blockhalving has happened, and the price is lower than it was on the day of the halving. I wanted to give my thoughts on the situation.
~70TH has disappeared from the network hash rate.
70TH represents around $133,000 of electricity cost per day. Assuming those miners wanted litecoin I think it is safe to assume that $133,000 is being used to purchase loose litecoins
Litecoin is interesting because the electricity cost is such a high percentage compared to the depreciation cost. Even without equipment depreciation the electricity costs eclipse the current price.
I honestly do not know why the miners have not shut down more machines. It doesn’t make sense for them to run such massive losses, unless they are planning to recoup all their losses at a later date.
I truly believe that there is no better opportunity to buy any crypto. Litecoin is poised to jump. That is what the financials and fundamentals are saying.
I think this week of sell off came from the speculators who were expecting 2x profit immediately on the day off the halving.
I hope this helps your understanding! I will keep watching it and will warn you if anything changes!
P.S. I just told my mother to buy Litecoin.