Lets first analyze Litecoin. It is different from Bitcoin in 3 major ways. It runs under a different algorithm, the block speed is much faster, but the network power is not as strong as the one of bitcoin. Back in the good ol days Litecoin was peaking at $45, but what happened now? The simplest explanation is that the hype died. Litecoin was hyped to be ASIC resistant with it’s Scrypt mining algorithm and because the confirmation arrive much faster it seemed like an improvement upon bitcoin. However, we have since seen the release of the GridSeed which is an ASIC miner for litecoin. The release of the ASIC miner ruins the hype that litecoin is in fact ASIC resistant because GridSeed proves otherwise.
The other hype that surrounded litecoin was it’s faster transaction speeds and how it must be a better network. Wrong, just because a block can be solved faster and the confirmations arrive faster does not mean that the network is faster. Think of it this way, litecoin’s blocks take 2.5 minutes to be solved on average, and bitcoin blocks take 10 minutes to be solved. So in other words, 4 litecoin confirmations = 1 bitcoin confirmation security wise. So just because a confirmation arrived earlier does not mean that the transaction is just as secure as that of a longer arriving confirmation (hope that made sense).
So since litecoin is not asic proof and faster transaction speeds do not equal the same security, the hype has died. There is no real use for litecoin now because it is just another version of bitcoin with a few differences. It falls in the category of all the other litecoins which do not have any significant difference or improvements.
How can you possibly believe that an article from 2014 is relevant to describe the current situation for LTC. Original article can be found at:
https://themerkle.com/why-is-litecoin-dying/LTC has been through many phases of growth and stagnation since, none of them necessarily indicated LTC was dying, nor does the current phase.
Litecoin has been around the block a few times and still has an army of supporters and an established development team.
Future growth for litecoin depends on the adoption for it and on the success of Bitcoin.
If Litecoin manages to be adopted by different vendors, it can fly again. In absence of great news, it will slowly decrease.
That said, the competition for LTC has increased this year, so there is a chance that LTC will start to decline from now on.
