Topic: Why did Litecoin rise so fast? (Read 1830 times)
Looks like some big trendy or organized funds has been injected into the market in and off again these days, they are picky as well you could see bitcoin always been targeted and it's price was too high to pump further, Litecoin on the other hand being the alternative version of bitcoin, acceptable and widely trade-able across platform, was being targeted as a source of pump and people are not losing their hands quickly on the fact Litecoin is as much useful as bitcoin when it comes to popularity with lower transaction fees, its much lower price explain why its growth percentage could be that high i guess.
1. Very low transfer fees mean it's being used as a currency for cross-exchange transfers.
2. Founder Charlie Lee has been on TV a lot
3. Coinbase/GDAX only offers BTC, ETH, and LTC. Coinbase is the primary fiat ramp for American investors, so they have to choose one of the three and LTC looks "Cheapest" to new investors.
4. Hype, momentum, and the madness of crowds.
If your explanation see above Yes already automatically many people who choose litecoin for the lowest price among others so will the more interest and join in litecoin 2. Founder Charlie Lee has been on TV a lot
3. Coinbase/GDAX only offers BTC, ETH, and LTC. Coinbase is the primary fiat ramp for American investors, so they have to choose one of the three and LTC looks "Cheapest" to new investors.
4. Hype, momentum, and the madness of crowds.
Maybe there are more investors in the litecoin that's why it increases its value. If there are lots of investors then the demand will be increasing too. That is one of the reason why the coin arises so fast.
Maybe there are more investors in the litecoin that's why it increases its value. If there are lots of investors then the demand will be increasing too. That is one of the reason why the coin arises so fast. Major issues with BTC is High transaction fees and more confirmation time. ETH also got a problem of network congestion from last few days.
As a alternative Litecoin or IOTA is best coz of fast transaction and low transaction fees. Old investors are shifting their invest from BTC to altcoin to gain more profit. Litecoin seem to be best option to them as it is reliable and accepted widely all around the world.
As a alternative Litecoin or IOTA is best coz of fast transaction and low transaction fees. Old investors are shifting their invest from BTC to altcoin to gain more profit. Litecoin seem to be best option to them as it is reliable and accepted widely all around the world.
Quick transactions are very good. But waiting for Litecoin futures contracts in my opinion gave a bigger push to the price increase. The price began to grow long before the release of the news. Of course there are whales who know about such trends and prospects much earlier than all the others. I also thought it was some kind of pump. But no. There are grounds for growth.
Maybe there are more investors in the litecoin that's why it increases its value. If there are lots of investors then the demand will be increasing too. That is one of the reason why the coin arises so fast.
It's a great coin that is constantly getting better. Also it has easy access to people on coinbase.
1. Very low transfer fees mean it's being used as a currency for cross-exchange transfers.
2. Founder Charlie Lee has been on TV a lot
3. Coinbase/GDAX only offers BTC, ETH, and LTC. Coinbase is the primary fiat ramp for American investors, so they have to choose one of the three and LTC looks "Cheapest" to new investors.
4. Hype, momentum, and the madness of crowds.
2. Founder Charlie Lee has been on TV a lot
3. Coinbase/GDAX only offers BTC, ETH, and LTC. Coinbase is the primary fiat ramp for American investors, so they have to choose one of the three and LTC looks "Cheapest" to new investors.
4. Hype, momentum, and the madness of crowds.
Because LTC has Lite performance for cryptocurrency. Means low fee, fast process.
Too many people are interested in LTC because of the low transaction costs, large quantities and long time development.
I think this coin have price about $1000 in 2018
I think this coin have price about $1000 in 2018
Today something strange is happening with the forum, it is impossible to work. And about the coin, psychology works. They said that lithecoin would soon replace bitcoin and the people were led.
Alright guys got my answer, no need to explain it anymore, if staff could delete this topic thanks?
Its because of the recent congestoin of BTC and ETH transactins that made LTC stands over these two.
Thats cause of main purpose of crypto coin. They are fast and cheap for transactions. As we can remember why crypto coin founded.
Litecoin is really good for transactions and there is a chicken related thing
Litecoin is really good for transactions and there is a chicken related thing
I agree. It's cheap, so people can easily deal with it better compared to bitcoin, especially right now that it commands a very high price point. Also, I think many altcoin developers are pumping their altcoins right now to counteract the negative effect of the current bitcoin surge. Many altcoins have died out and some are in a stand still and is not increasing in value any time soon due to the continued rise of bitcoin that gets so much attention in the market. I think it's a good thing to see changes like this because many people deal with altcoins more than bitcoins because it's cheaper, plus the fact that many ICOs repay services through it as well. Keeps the market alive, I think.
Hi,
My opinion about this fast rise is more investors try to pump the litecoin because transaction fee are low.Same Ethereum value is now $700 I think this is because more people know about cryptocurrency and invest in it. I know people who buy bitcoin at current price to make profit if the price will go up same with altcoin but I think the opportunity to buy litecoin,bitcoin or other altcoin is now over the price is to high.
My opinion about this fast rise is more investors try to pump the litecoin because transaction fee are low.Same Ethereum value is now $700 I think this is because more people know about cryptocurrency and invest in it. I know people who buy bitcoin at current price to make profit if the price will go up same with altcoin but I think the opportunity to buy litecoin,bitcoin or other altcoin is now over the price is to high.
Major issues with BTC is High transaction fees and more confirmation time. ETH also got a problem of network congestion from last few days.
As a alternative Litecoin or IOTA is best coz of fast transaction and low transaction fees. Old investors are shifting their invest from BTC to altcoin to gain more profit. Litecoin seem to be best option to them as it is reliable and accepted widely all around the world.
As a alternative Litecoin or IOTA is best coz of fast transaction and low transaction fees. Old investors are shifting their invest from BTC to altcoin to gain more profit. Litecoin seem to be best option to them as it is reliable and accepted widely all around the world.
Quick transactions are very good. But waiting for Litecoin futures contracts in my opinion gave a bigger push to the price increase. The price began to grow long before the release of the news. Of course there are whales who know about such trends and prospects much earlier than all the others. I also thought it was some kind of pump. But no. There are grounds for growth.
Maybe Bitcoin was getting too expensive for some people? Since Litecoin is seen as the Silver to Bitcoin, people want to get some of that.
i have always thought that litecoin is highly successful alt and that which made it on the top ten of altcoins beside monero neo etheruem i think it will reach a respectable price.
I think its just cause of transaction speed, atomic swaps and more features.
Bitcoin is useless now. You cant buy or spend bitcoin its not for daily usage but litecoin has seg2x and its cheap for spending.
Bitcoin is useless now. You cant buy or spend bitcoin its not for daily usage but litecoin has seg2x and its cheap for spending.
Because litecoin is much cheaper than other significant coins. Many people then bought litecoin and then now its price skyrocketed.
I personally don't think people buy a coin for it's lower pricerange, they could've just bought 0.05 bitcoin for example. What I think the reason is, after reading all the replies on this topic, is the slow transactions and high fees on Bitcoin and Ethereum the past few days. Litecoin is the best choice after them, so many people started using Litecoin.
Yeah, Litecoin has seen a pretty big spike in transaction these past couple of months so it looks like people are actually starting to use it for its intended purpose.
Currently we're seeing almost 160k transactions per day! Source: https://bitinfocharts.com/comparison/litecoin-transactions.html
I mean why shouldn't people use it instead of Bitcoin? Transactions are 4 times faster than with Bitcoin and there's no drama in the community as with Bitcoin.
it is evident that altcoin is increasing in number of users. so that altcoin demand in the cryptocurrency market is increasing. other than that in my opinion btc price factor is so expensive to make someone look for other investment alternatives.
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