Litecoin prices fell roughly 20% in less than 24 hours, and the culprit is apparently a single tweet.The digital currency declined to as little as $9.19 at 12:29 UTC today, after reaching a high of $11.45 yesterday.According to data source Coinmarketcap, this represented a 19.7% loss for the digital currency.Yet, analysts suggest the price movement is the latest example of how cryptocurrency prices can be impacted by relatively minor events, in this case, speculation about the future of an upgrade to the litecoin protocol.First developed for the bitcoin network as a way to increase the capacity of network transaction blocks, there are now high hopes litecoin could be a useful proving ground for Segregated Witness, a blockchain scaling solution.Developers, for instance, have expressed their interest in testing SegWit on litecoin as a way to ease concerns about its deployment on bitcoin, and traders have responded in turn.The tweet that analysts identified as triggering this sharp drop, however, shook confidence in this outcome.

In the message, Wang Chun, co-owner and chief administrator of mining pool F2Pool, expressed his concerns about Segregated Witness and warned that he may need to pull his mining pool's support for the proposal.At issue is that F2Pool accounts for roughly 35% of the network's mining power.Still, less than two hours later, litecoin creator Charlie Lee tweeted that he had spoken with Chun, who would continue to signal for SegWit.Though with the scare over, it seems markets were still affected.Over the last several days, the litecoin network has repeatedly approached the key 75% support level it needs to activate SegWit, and as such, the tweet sparked concerns the technical proposal might not be activated.At the time of report, 67% of miners were signaling their support for the change, including F2Pool.Going forward, analysts said the blockchain asset will likely experience continued volatility on the outcome of this upgrade."Litecoin's jumps and drops lately all seem to be tied to speculation as to whether it will manage to activate SegWit," algorithmic programmer Jacob Eliosoff told CoinDesk.

Harry Yeh, managing partner of investment manager Binary Financial, offered a similar sentiment, stating that a lot of litecoin's price movements had to do with SegWit activation.The drama takes place as the price of litecoin has enjoyed sharp increases over the last several trading sessions, with data suggesting it has surged roughly 175% from its peak to trough over the last week.Twitter chalkboard image via Shutterstock The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.bitcoin sek chart)submitted by π Rendered by PID 14705 on app-362 at 2017-06-24 12:46:00.816616+00:00 running 3522178 country code: SG.bitcoin is too complicatedLitecoin continues to fall from a recent high of nearly $39 to now trade at around $27 as attention and focus seems to have moved elsewhere since it activated segwit around four days ago.bitcoin bbb

Price instantly dropped after segwit activation, quickly falling by $10, after it experienced a nearly similar rise of around $15 mainly in anticipation of the much expected segregated witnesses (segwit).Now that segwit is activated, the currency doesn’t seem to have much to talk about.So attention appears to have moved elsewhere, sending the price lower with activity on litecoin’s public spaces reduced.The reason may be because segwit doesn’t really have any significant effect for litecoin as it enjoys plenty of capacity which no one seems to want.why litecoin price dropSo, once segwit activated, nothing really happened as far as end-users are concerned.bitcoin identity confirmation codeThe litecoin holders, however, might keep holding for the Lightning Network, a second layer protocol on top of litecoin that is intended to increase capacity to tens of thousands of transactions.bitcoin hyip paying

There are reports of tests payments, but through a command line interface which most litecoiners can’t really use.Actual user friendly wallets may take some time, and maybe, once launched, might perhaps hype litecoin once more.However, that will probably quickly die out too because litecoin’s problem isn’t capacity.Litecoin’s problem is the fact that no one wants to use it and no one wants to use it because it’s a bitcoin copycat.Litecoin offers nothing really that bitcoin doesn’t.Sure, it might have slightly faster confirmation times, but they appear to be following the full blocks settlement layer path so those confirmation times don’t matter.Bitcoin, on the other hand, is mainstream now, re-enforced recently after it was splashed in front page papers and prime news-shows across the world on top of allegations that Trump’s Press Secretary and an aid to the President-elect Macron used bitcoins.So, litecoin can’t really directly compete with that sort of network effect by just offering nothing, something supported by the fact that it barely handles 4,000 transactions, making segwit and LN on litecoin kind of irrelevant.

But, I suppose it gave us journalists something to talk about so it made for a good side-show while it lasted, although, who knows, the currency might take over bitcoin as some litecoiners were claiming at the peak hype.Disclaimer: The views expressed in the article are those of the author and do not represent those of, nor should they be attributed to CCN.For a real-time Litecoin price chart, click here.What is your Litecoin price prediction and why?(self.litecoin)submitted by Tbh I was never really on the Litecoin train after seeing it kinda lag behind other cyrptos like Dash and Monero, but idk in my gut I feel like Bitcoin is gold and Litecoin is silver... No way it's going to be at $4 in the future, how low/high will the price go do you think and why?π Rendered by PID 14603 on app-223 at 2017-06-24 12:46:06.595715+00:00 running 3522178 country code: SG.Financial Markets are in Turmoil, Crypto Prices are Down 25, Aug 2015 This weeks did not start well for the worldwide financial markets, and things were especially not good in USA and China as a result the exchange rates of Bitcoin and Litecoin as well as other crypto currencies are also down.

The crypto currency price volatility is not something new, but the exchange rates dropping at this particular moment, especially for Litecoin, are not that good.Today LTC is expected to have its first block reward halving and the price going down to as low as $2.5 USD means that the mining profitability after the halving will be awfully low if any at all.Though later today we are probably going to see some recovery for both Bitcoin and Litecoin that will also most likely rise the fiat exchange rates for other alternative crypto currencies as well.Back on to mining LTC, we had high hopes for SFARDS to have their new generation dual-mining ASIC capable of mining simultaneously SHA-256 and Scrypt-based crypto coins such as Bitcoin and Litecoin.The more interesting parts with the SFARDS SF100 miners is their high hashrate for mining LTC only with very low power consumption, roughly 1/3 of the closest competitor in the form of Innosilicon and their A2 Terminator chips.Unfortunately SFARDS is late, they are apparently going to miss the opportunity to release the hardware before the block reward halving, so their pricing will either have to go even lower in order to get user interest if/when they have wider availability.

In fact some people have apparently received first batch units from SFARDS earlier this month, very limited early availability, and the feedback was not only positive.It seems that aside from the high initial price of the miners, there is more to be desired from the build quality and in terms of reliability as well.Meanwhile it seems that Innosilicon is selling well their A2 miners as they are currently the best you can get on the market and with good price policy and availability people that want to mine for Scrypt coins such as LTC have no other choice for ASIC miners.We are going to see how things will work on for Litecoin, but meanwhile it is already experiencing a strong competition by Ethereum (ETH) in terms of market capitalization.Ethereum has been in development for quite a while, but mining has been officially launched at the end of last month along with the network starting to support transactions a few days later.The current high market capitalization of Ethereum is due to the availability of 72 million coins prior to the mining even starting, 60 million of which were sold to early investors and another 12 million to be distributed to early supporters.