Litecoin's news of production cuts led Litecoin mining hot

The Litecoin mining has been sought after by more and more miners in recent years, so the news about Litecoin has touched the nerves of every miner, especially the news of the reduction of Litecoin this year. It is understood that the blockchain of Litecoin will be Production cuts will be carried out in August this year, when the reward for mining will be halved. Litecoin was originally designed to be halved after the completion of every 840,000 blocks (about every four years). And the most recent time, in August this year, experts in the mining circle predicted that this production cut or promote the rise of Litecoin.

Why is it important to cut production?

The process of reducing the production of Litecoin aims to control inflation by reducing the return of the mining blockchain from 25 Litecoins to 12.5 Litecoin, a process that will have an impact on the price of Litecoin. It makes sense to link the rise in Litecoin with a halve of the reward, as this process leads to a reduction in the supply of cryptocurrency. After August, every time a block is mined, the miners' income will be reduced by 50%, and the amount of Litecoin circulating in the actual market will also be significantly reduced, which may lead to supply shortages.

The currency market is always looking ahead and tends to re-price in this demand, and changes in supply conditions tend to occur months in advance. Supporting this view is historical data showing that the price of Litecoin has risen sharply in seven months until it was halved for the first time on August 25, 2016.

In the halving of the Litecoin and the price history, the Litecoin LTC bottomed out at $1.12 in January 2015, rose to $8.72 in July, and fell below $4.00 before August 25. This time, Litecoin fell to the bottom of $22 in December and has risen more than 250% since then. This round of gains may not be over, as the distance is halved for another three months, and people who missed the opportunity to get on the train in the first quarter of this year are likely to enter the market in the next few weeks, putting upward pressure on prices.

In addition, as the time for the reduction of Litecoin is approaching, the meaning of halving the price and its historical impact on prices will begin to receive more attention, which will also lead to attract more buyers into the market. Everyone said that events that count their prices into the value of the trading assets before the actual date of trading the assets tend to experience a sell-off in news effects after the event actually occurs or occurs earlier. Therefore, mining is a suitable investment for layout. At present, there are not many platforms and mines for Litecoin mining on the market, especially the Litecoin cloud computing power. It is relatively well-known, only RHY mines, and its Litecoin cloud computing power The mine cost is very high, the mining electricity cost is as low as 0.02749 US dollars per kWh, and the price of the ant mining machine L3++ for bitcoin is only 217.0296 US dollars, which is a very good mining layout before the sale of Litecoin.

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