Bitcoin Forum

LTC potential bubble is looking like 2011 BTC bubble.

Let's look back at BTC chart (http://bitcoincharts.com/charts/mtgoxUSD#rg1460zczsg2009-12-09zeg2012-12-08ztgSzm1g10zm2g25zv) back in the day. Looks like BTC was hovering around the $1-$2 range then skyrocketed all the way up to $30 something then back down to around $3.

LTC (http://bitcoinwisdom.com/markets/btce/ltcusd) is looking quite similar.

Good, now I have the chance to buy cheap litecoin if it crash...

I think it's fairly unreasonable to compare LTC's growth patterns to BTC. The growth it's experienced in the past couple months is directly proportional to the fiat price of BTC, meaning LTC is still being used primarily as a means of buying and selling BTC. We as human beings like to try and identify patterns, but expecting LTC to behave in the same way as BTC because its growth patterns look similar on paper is perhaps a bit rash. I'm not saying LTC won't crash. After all, there's a very real possibility that BTC will crash, and if it does, LTC will almost certainly follow suit. There's also the fact that LTC's difficulty has been increasing exponentially since the recent boom. If LTC's trading price for BTC doesn't increase to reflect the increasing difficulty, it could start to get snubbed in favor of FTC, possibly causing a crash. But I think suggesting it might crash because that's what BTC did in 2011 is a pretty major oversimplification.

Bad analysis.

Litecoin does follow bitcoin pattern.

However, this is the 2ND SPIKE UP for Litecoin, not the first.   So it is like Bitcoin last April.

Back in April, Litecoin was trading below 50 cents and ran all the way up to $5.  Only to crash a few months ago to $1.6.

This spike is like when Bitcoin ran from $13 to $260.

How is it bad analysis? The description and link I provided about BTC going from $1-2 to +$30 is a lot closer in price to LTC's recent pattern of $2-3 to $48 than your 50 cent to $5. I never said that the recent LTC pattern is a bubble. I said that it's looking like BTC in 2011 which could make LTC a potential bubble. Just speculating that it could follow that pattern. Which at the time of this writing, no major crash occurred.

I don't think it is fair to assume there will be a crash based on the same pattern Bitcoin had.  I think there is more things that need too be considered.  Not ruling it out as possible just not likely IMO.

I think it's fair now.

LTC is tied to BTC, and it will follow BTC trends. That's why LTC also had that great increase like BTC did

Or bad news that all cryptos are the same so it's not really that scarce.