How Do Miners Impact Litecoin Prices?

Miners’ sentiments may also have some impact. The Litecoin mining algorithm is less dependant on electricity than that of Bitcoin and this can lead to lower costs for miners. If miners decide that Litecoin is giving them more stable returns then they may switch to Litecoin. This increases the supply and encourages traders to buy Litecoin.

Leave a Reply

Your email address will not be published. Required fields are marked *