Not adapting to the Stock-to-Flow model, is Litecoin price going to zero?
The Litecoin Halving not have afforded the price of LTC go to the moon. The FOMO surrounding this coin is only enough to create waves for short-term returns.
Meanwhile, in the long run, WhiteRmus analyst has confirmed that Litecoin price was going to drop “to zero eventually”.
WhiteRmus’s statement once again confirms that Bitcoin’s stock-to-Flow (S2F) model cannot be applied to any other cryptocurrency. To support the claim, WhiteRabbit showed the last six months of hash rate data and referenced that Litecoin shows no price movements in connection to its scarcity.
I’d like to thank the #litecoin fam once again for helping bitcoin. This time for proving the S2F model doesn’t apply to shitcoins and watching your coin die a slow predictable death. Smart people will dump their bags like Charlie did, dumb ones will sink with the boat to zero. https://t.co/QQCgqZ9UQS pic.twitter.com/Elhh7BIO0R
— WhiteRabbit (@WhiteRabbitBTC) December 2, 2019
How the S2F effect Litecoin price?
The S2F model is a ratio of existing supply over new supply entering the market each year. Bitcoin is getting more scarce every halving. This is ordinary seen for both currencies as well as commodities, and if Bitcoin should attempt to be either, it stands that it should follow this growth model. Currently, Bitcoin has an S2F ratio slightly higher than Silver, and after the next halving, it will be close to Gold. And at this rate, Bitcoin will be able to compete with traditional assets.
However, not all cryptocurrencies follow this model. Litecoin and many other altcoins do not have a similar correlation between decreasing supply and rising prices. Moreover, when the hash rate drops, Litecoin is also in considerable trouble.
Polite way of saying who gives a shit about litecoin ?♂️
— CryptoCalum (@cryptocalum) October 16, 2019
Litecoin still cannot die immediately
Although the S2F model is not right with Litecoin. However, this cryptocurrency can rise in another way. Litecoin price again shows the momentum of Litecoin Halving. And of course, there is a possibility that LTC will increase shortly.
And what the difference?
I’m not a litecoineer, but you say gold is ok, silver is ok, Btc is ok
ltc is not ok..was “crypto silver” checked by your model?
Ltc has the same halvings as well, the same price moves pic.twitter.com/g4sDvn4MuI
— Some Crypto (@ssomecrypto) October 16, 2019
Furthermore, while the hash rate for Litecoin has dropped dramatically over the last 3 months, mainly in response to the halving and its effect on mining profitability, it is essential to zoom out and realized that the current hash rate is still notably higher (about 160 T / H) than it was during the 2017 bull run (about 100 T / H).
Litecoin hashrate down more than 60% in 3 months
— hodlonaut?⚡? (@hodlonaut) November 4, 2019
Always being compared to Bitcoin, Litecoin seems to be making its path. If the Bitcoin wallet is gold, Litecoin is no less than silver. Therefore, Litecoin could not die so soon based on the above analysis. Moreover, the LTC community is still active. In the meantime, those who are sold on the coin will probably continue to HODL, while skeptics are expanded to change their minds anytime soon.
- Cryptocurrency Exchange Coinbase Stores The Most BTC
- SkyWay Prohibited Partners From Mentioning Their Brand