What do you think how high LTC is going?
I watched two eBay auctions end of few days ago with final sales of 20 and then 30 LTC coins go twice over the official exchange displayed rates.
I think there is a lot of speculation driving it up, but the people buying are doing so because (maybe):
1. they feel they can't afford to get into BTC.
2. they feel they have missed the boat on BTC.
3. LTC looks cheap compared to BTC and it might go to $1,000 soon - which it might at this current rate.
4. existing players feeling priced out of mining and turning to other coins
5. people in some countries, like the UK, can't access exchanges to buy so they look for other more expensieve ways to purchase
Good points! One thing also could be that people don't trust bitcoins anymore as a real and stable currency, because of the radical changes in the price.
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