Litecoin Price Suffers Worst Weekly Losing Streak in a Year

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In ending last week in the red, the world’s fifth-largest cryptocurrency, litecoin, has confirmed its longest weekly losing streak in a year.LTC suffered an 8 percent drop in the week ended Sept. 1, having registered 3.17, 15.10, and 5.74 percent losses in the preceding three weeks, according to Bitfinex data.That is the longest losing streak since August 2018. Back then, the fifth-largest cryptocurrency by market capitalization had suffered losses in each of the four weeks of August.The August 2018’s four-week week losing streak saw LTC clock a high and low of $85 and $49, respectively, meaning prices fell by 42 percent.The latest four-week sell-off brought LTC lower to $62 from $107 – again a 42 percent drop. It is worth noting that the price slide has happened following litecoin’s mining reward halving on Aug. 5.That is hardly surprising as the cryptocurrency had priced in the impending supply cut with a…

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