Litecoin is sliding after its first competing fork is announced

Litecoin is falling after its first hard fork was announced. It will occur next week.
Litecoin cash is not affiliated with litecoin in anyway, and litecoin founder Charlie Lee has warned any fork could be a scam. 
In an interview with  Business Insider, the fork's founders maintain that litecoin cash not a scam, and an improvement on the original litecoin. Litecoin is down 2.2% Tuesday morning — alongside most other major coins — after the cryptocurrency’s first