Price is not driven by difficulty. It's driven by emotion.
The spike in Litecoin was fueled by the fear of a weakness in Bitcoin with the blockchain fork.
It was not driven by an actual increase in the utility value of Litecoin.
Once that fear emotion was gone, so to went the gains in Litecoin.
But...
Keep your eye on Litecoin. When all is quiet, and it has been trading in a channel for awhile, be ready to buy on the first breakout.
Litecoin I believe will prove to be very valuable arbitrage opportunity between BTC/LTC. Arbitraging the emotional differences between the 2.
But ya gotta be ready to act fast, fast, fast when the opportunities develop. The charts will tell you, if you know what to look for.
I'm very grateful to have 2 viable crypto currencies.
P.S. Same applies to Namecoin too.
Great post sir! I totally agree..
My personal take is that Litecoin is going to be to the world what was silver for the old world, and of course, Bitcoin is to the world what gold was to the old world..
I am not negging on ownership and diversification btw, silver and gold are still excellent investments.. (well anything besides centrally issued fiat paper is)
So I see the general public more and more getting, first, into Bitcoin and then realize that there are other cryptos to hedge their Bitcoin in.. and then the tango begins
