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July 30, 2019, 01:45:53 PM |
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The halving event next month will be a "shock" for Litecoin digging Litecoin founder (LTC) Charlie Lee has predicted that miners will likely have to close after the upcoming block-breaking event this summer, he further explained that: "When the peach rewards are cut in half, some miners will be unprofitable and they will turn off the excavator. If a large percentage of miners do it, then the blocks will slow down for a while. For litecoin, it took three and a half days before the next change, so it could take up to seven days of slower blocks, and after that, the difficulty would correct and everything would be fine. "
But the thing is that people expect prices to rise. So a lot of people will buy in because they hope prices will rise and that is a self-fulfilling prophecy. So because they will buy in, the price actually increases
What do you think about that statement?
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