Litecoin Continues Bullish Trend As SegWit Activation Draws Closer

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There is a lot of excitement among Litecoin community members right now. The value per LTC continues to increase steadily despite some minor pushbacks. With SegWit activation within reach, it will be interesting to see how this situation evolves. Some people predict Litecoin will hit US$50 soon, although there is still a long way to go.

The past few weeks have been quite intense for Litecoin users, to say the least. After signaling for SegWit, it seemed like Chinese mining pools would oppose the scaling solution. As a result, the hashrate and support of Segregated Witness went down a bit. However, an agreement was reached among mining pool operators to jointly signal for SegWit moving forward. This translates to 79.06% of blocks signaling support as of right now.

What Does The Future Hold for Litecoin?

Keeping in mind how the network needs 75% support to activate SegWit , things are looking good. In fact, it will take a few dozen more blocks to effectively achieve “locked_in” status. Once that threshold is achieved, it will take another activation period before SegWit becomes active on the Litecoin network. At this point in time, that is only a

Read more ... source: NewsBTC USA

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