With the continued drop in LTC-USD price, we're finally seeing sustained drops in LTC difficultly as many miners are starting to run at a loss. This could actually be a combination effect with some miners underclocking their machines to cope with the summer heat/increase their efficiency.
LTC difficulty is currently ~7.3% off its peak, with a further ~+5% (to 9.9M) decrease projected for the next retarget!
Assuming price stays below $100/LTC, how low do you think difficulty could drop? I'm thinking 9M is going to be the floor, as summer heat really starts to peak and those who kept their machines running in the hopes of a price pump start shutting them off.
Interesting to see how the difficulty kept exploding from March to the start of June, despite the pretty much sustained decrease in LTC price, as the result of Bitmain just s******g out units.
Data from BitInfo Charts shown below, with projected difficulty coming from Litecoin
