[LTC] What are the reason behind recent LTC rise?

[shyliar]

I am guessing some hype is also due to the MIT announcement?
http://litecoin.mit.edu/

Doubt it, since that website has been discredited by Charlie Lee.

https://twitter.com/SatoshiLite/status/882056712676442112?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fbitsonline.com%2Flitecoin-amazon-good-news-lee%2F

[andylittleton]

I believe part of the reason for the rise is because btcc (dax) exchange just got launched by Charlie Lee brother Bobby Lee.  I feel smart traders are positioning in early for the event when Litecoin gets to be traded on BTCC (Dax)


When looking at the btcc website it looks exactly like coinbase and gdax.  This is pretty much the coinbase of china it appears.  Website looks slick and usa friendly to use.

[shyliar]

I believe part of the reason for the rise is because btcc (dax) exchange just got launched by Charlie Lee brother Bobby Lee.  I feel smart traders are pre pricing in early for the event when Litecoin gets to be traded on BTCC (Dax)


When looking at the btcc website it looks exactly like coinbase and gdax.  This is pretty much the coinbase of china it appears.  Website looks slick and usa friendly to use.

The exchange btcc has been up and running for many years. It was founded in June 2011, it was the China's first bitcoin exchange. So it has nothing to do with it.

btcc did recently open a new mining pool in China which so far has attracted very few miners. It is hoped that it will attract some miners from f2pool to better balance miner distribution.

https://en.wikipedia.org/wiki/BTC_China

[Sludjo]

I thought I'd be smart and short ltc at .0216, closed at .0210 when I noticed the huge orders building on both sides.  At least I didn't lose, just time i guess as i didnt make much either. I thought it was gonna drop like a rock, maybe it still will, maybe it won't.  JFC, when will I learn not to short a bull market!

[xianbits]

At some point, a little bit in my mind says maybe this is how people handles the August 1 issue of bitcoin. Maybe, some are holding altcoins for now since we can't know what will really happen after August 1. And since litecoins are too promising that most choose to hold this more than some altcoins. Does it make sense or I'm just having an irrelevant reasoning here?

[Hui8]

I thought Lee is very busy person to get to promotions of LTC. Its goof thing that LTC is now growing. Go LTC we wanna see you catch BTC in the future. After all they say slow and steady wins the race.

[JosNekoKopa]

What was reason for people to think that LTC won't show up in its full shine? I remember how it was crucified as worst coin, waste of time, Chinese abandoned pnd coin..Look it now!  How far it will go nobody knows, but one is certain LTC is top coin!

[ROT13]

Second longest chain after bitcoin, with none of the scaling and blocksize issues.  That in itself deserves at least a 200 dollar valuation in the current market.  Still way undervalued.

[Sikka157]

I think litecoin will reach $100 soon. I just added 10 more LTC at $47 and will buy 10 more.

[thangoffshore]

I think litecoin will reach $100 soon. I just added 10 more LTC at $47 and will buy 10 more.

From which exchange you got this price bro?

It's $5x at major LTC exchanges.

[Sikka157]

I think litecoin will reach $100 soon. I just added 10 more LTC at $47 and will buy 10 more.

From which exchange you got this price bro?

It's $5x at major LTC exchanges.

I bought litecoin for $47 each at coinbase.com
the price of LTC is $52 at coinbase right now.

[FromTheStars]

LTC will always move with Bitcoin. Just like everything else. When you have 40% of the total market share of 100bln, you're not going anywhere anytime soon. Also since crypto has already secured 1% of all the world's cap. Crypto isn't going anywhere either. 1% of the world is a lot.

[thangoffshore]

LTC will always move with Bitcoin. Just like everything else. When you have 40% of the total market share of 100bln, you're not going anywhere anytime soon. Also since crypto has already secured 1% of all the world's cap. Crypto isn't going anywhere either. 1% of the world is a lot.

1% of the world is quite big, huge actually, and there are a lot potential. Imagine what would happen when major banks and financial entities join the game.

Some already joined.