I think ltc has been drowned for so long. For a month, do not leave 1 place for 0.011.
Currently there is a big price spurt. It has risen to 0.0154, equivalent to 38 usd. So maybe it's $ 70 in the coming time is not surprising. =))
it is the awakening of the chikun
LTC, after the SegWit hype pump dropped down to 0.01BTC price range and has been keeping up there ever since. and as i said multiple times that was a very good sign. and we can now see that has led to another rise. and while everyone is so busy with the highly expensive and already in a bubble ethereum, all the other altcoins such as LTC and so many other small ones are rising like this and giving investors a lot of profit
We shall see if this growth persists
It would be a good sign (in fact, even a telling sign) if Litecoin continues to rise when Bitcoin goes down. One thing is rising along with the latter (even if faster than it), and it is a completely different one if Litecoin would rise despite Bitcoin going down. If this tendency comes to stay, that would essentially mean that Litecoin no longer blindly follows Bitcoin (as it has been most of the time) but now plows on its own, and people are likely moving their wealth from Bitcoin into Litecoin
well so far if i recall correctly this tendency was the opposite. meaning when bitcoin went up litecoin followed and when it dropped ltc also followed. this was the first time that bitcoin price drop initiated an LTC rise.
so it is hard to say if it going to stay or not because so far this was a one time thing and we can see bitcoin has already reversed direction and is now rising up again.
also it can be because of a couple of news about litecoin such as bitstam (which if i am not mistaken) added LTC market and posted a big supporting tweet for it.
That may well be so
Nevertheless, Litecoin is pretty consistent now. It went for a small correction today but the price is still hovering above 40 dollars per coin. The next few days will reveal everything (if Bitcoin doesn't start a sudden rally of its own, of course). If the price continues to rise despite Bitcoin stagnating or even declining, these days may in fact turn out to be a tipping point of sorts, and we could finally see massive amounts of money flow out of Bitcoin (which might soon become a toxic asset) into this coin. So far I see people liquidating their Bitcoin stashes and mostly going for fiat