Topic: The surge in the value of Litecoin (Read 194 times)
Litecoin has been hovering around $ 3 to $ 5 for the past two years and will not begin to get a rocket until March 2017. I think this is a reasonable price, because it is too long. ETH last year less than 10 US dollars last year, this year has been 625 US dollars.
There is no reason to jump such high! It should rise for sure, but not so high. I guess we will see down rocket soon.
Can anyone tell me the reason for the growth of Litecoin the jump in its value, also something interesting was that are performing a single transaction in 2.5 mins while bitcoin does in it 10 mins. Is this the actual numbers or are the averages being manipulated ?
Litecoin is a bitcoin fork, as many other coins outhere. Litecoin was made to have faster blocks they even implemented Lighting Network - SegWit before bitcoin... Today when bitcoin blocks are full most of the time people search for alternatives to transfer value beetween cryptocurrencies by bitcoin being the enrty point to enter the market. I was expecting litecoin to raise but not that much - many other coins are simply breaking new all time highs this can be due to new investors who don't see real point in investing into bitcoin itself and who think that they could earn more of altcoins. As of usage bitcoin is still number one but many companies are looking to integrate altcoins as payment options since bitcoin is slow and costly and because some people even prefer by paying with altcoins rather than exchanging them for bitcoin and then pay for goods and servieces.
Litecoin was made to be "lite" version of bitcoin their max supply is higher than bitcoin which is 84million (max bitcoin that can be creaeted is 21 million).
Pretty much whats been said already. People enter coinbase to buy bitcoin, after seeing the gains bitcoin has made they look at Litecoin and see how its cheaper and then think they have a chance of making the same gains with litecoin which is also sold there.
The value of Litecoin is growing after BTC value. I think most of altcoins will grow in the short period before 2018.
Like btcney said, it's mostly to do with media attention. Although, it might have had a bit to do with Bitcoin Futures where some investors decided to diversify into litecoin, but btc futures didn't really affect the price of bitcoin negatively. But that's just an opinion.
I also read an article that was calling Litecoin the silver to Bitcoin's gold.
I also read an article that was calling Litecoin the silver to Bitcoin's gold.
Can anyone tell me the reason for the growth of Litecoin the jump in its value, also something interesting was that are performing a single transaction in 2.5 mins while bitcoin does in it 10 mins. Is this the actual numbers or are the averages being manipulated ?
Of course it's real numbers. The block time for litecoin is obviously a lot more frequent than bitcoin, but that isn't really something that is causing this current pump. Litecoin's block time has been that way ever since it came out, and people who were investing in litecoin knew fully well that was the case. Plus there are coins that have way smaller block times, such as ETH or even DOGE, with 1 minute or under.
The real reason here is just media attention with its founder, Charlie Lee.
People have just been talking about LTC a lot recently and people are jumping on this bandwagon train, essentially.
As long as Bitcoin transactions get more and more expensive, more and more people will get into altcoins. Litecoin has proved to be a reliable one, it has been on the market for a long time now, and so benefits from its reputation which makes buyers feel safe about their investment.
Can anyone tell me the reason for the growth of Litecoin the jump in its value, also something interesting was that are performing a single transaction in 2.5 mins while bitcoin does in it 10 mins. Is this the actual numbers or are the averages being manipulated ?
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