Litecoin has yet to survive the inflow of GPU miners that *WILL* mine LTC and sell it for BTC. This has only started around August when mining BTC with GPUs got unprofitable, so only a few months so far.
Unless there is equal demand for BTC->LTC trades, LTC price will go down.
Unless there is equal demand for BTC->LTC trades, LTC price will go down.
It doesn't matter how many people are mining LTC. The difficulty adjustment ensures that only a certain number of coins are produced each day.
The question is whether people who are mining LTC, or any of the other altcoins, are using them to purchase goods and services (i.e., commerce), or if they are sending them to exchanges to dump for BTC or fiat as soon as possible.
If the answer is the latter, then yes the price will continue to drop.
Indeed,
As i said before, All of ltc people is waiting for someone ELSE to come and create a service for ltc. No one try to create something for ltc.
At least if you cant do a step for ltc, Just don't hold it into your wallet, create transaction's (at least fake one's that transfer your money from one of your account to another account of yourself). Make the coins move in the network. this will help a lot.
