Litecoin price is down 4% on the day amid rumors about upcoming Litecoin Metselspecie fork
After recovering to $159.16 on Wednesday, the Litecoin price slipped back towards $142.00 and then lodged te the neighborhood of $144.00. On the daily chart, LTC/USD is still securely above 200-day moving average, but the upside has stalled. The price failed to lodge above $150.00 resistance and entered the consolidation phase. The short-term support is at $138.00, it is followed by 114.42 (Monday&rsquo,s low) and $112.00 (200-SMA)
The Litecoin community is humming about upcoming Litecoin hardfork that will produce a fresh digital asset – Litecoin contant.
According to the announcement on the bitcointalk forum on February Three, Litecoin developers team is preparing a fork that will take place on Sunday, February Legitimate (at very first it wasgoed scheduled on February Nineteen). Anyone holding Litecoin will get ten times that amount of Litecoin Contant.
Litecoin ventilatoren are puzzled spil they do not see any clear reason for this branching out. Unlike Bitcoin, it has never experienced issues either with transaction time or with high fees. While fork does not solve any practical problems encountered by cryptocurrency users, it will be convenient for legacy Bitcoin SHA256 mining hardware users.
The team behind the fork is anonymous: no utter names, no linksaf to social media accounts are provided, which is also rather suspicious.
Charlie Lee, famous cryptocurrency enthusiast and Litecoin creator, advises steering clear from the fork.
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