Why did Litecoin rise so fast?

[shinratensei_]

In the past few days, litecoin started growing really fast and it's now almost hitting 350$ on coinmarketcap. But what is the reason for it to grow this fast? Did they announce something big which I missed?

https://cointelegraph.com/news/litecoin-market-cap-crosses-15-billion-and-still-rising
That's about answering the mass adoption of the crypto. Another altcoin just like ethereum already reached another all-time high since UBS will try to develop the ethereum-based initiative
litecoin was following another major coin too. Not only litecoin even ripple doing the same with litecoin.

They didn't give an announcement. But the strong fundamental aspect is about the litecoin to be alternative way to the bitcoin.

And remember about there will be ethereum and litecoin futures contract.

[nelo007]

I guess Coinbase is one of the answer.... It's damn easy to register in only few minutes and buy crypto on it.
Plus the fact that bitcoin was high and new people coming were finding something that could go high also... they try litecoin

[De Suga09]

Coinbase is the answer...

Litecoin, is an altcoin of the better known cryptocurrency .Bitcoin, has soared to the record high of $290.99, a YTD increase of more than 4,000%, as listed on CoinMarketCap. Many are asking why the price of digital currencies has and is rising, whether Litecoin’s recent price increase is because of Bitcoin and if this bubble will burst.

[nonlinearboy]

I guess Coinbase is one of the answer.... It's damn easy to register in only few minutes and buy crypto on it.
Plus the fact that bitcoin was high and new people coming were finding something that could go high also... they try litecoin

I think you are right, there are many reasons. Coinbase is just one of them. The hot crypto market is the main reason in my opinion and LTC is an old and reliable coin.

[membis]

I guess that the reason behind the rise is because of high fees of btc and the slow speed in transactions of btc. So people moved to the litecoin in order to reduce those problems.

[Rinder]

We can be sure its due to multiple things, one of them were the Charlie Lee went into the television, wich had exposed a lot the coin, and since they replaced bitcoin with litecoin due to its being faster and cheaper, something that bitcoin had lost over the last years already. Litecoin can be used for daily transaction since usually requires few minutes to get the transaction confirmed, wich might be one of the reasons as well.

[cindygirl]

In the past few days, litecoin started growing really fast and it's now almost hitting 350$ on coinmarketcap. But what is the reason for it to grow this fast? Did they announce something big which I missed?

Here's my guess given we've also seen ethereum and ripple rise a lot in the last days. Futures and bitcoin breaking 15k made big news around the world and lots of people got interested. Many are skeptical about bitcoin and think it's maybe already near to the top and so they're looking for the 'next' bitcoin, then they end up the with 3 coins mentioned as they are 3 of the most known coins.

[Sadlife]

It's because transaction fees are getting higher and confirmation speed i getting slower the mempool is getting conjested and if you haven't paid your transactions with higher fees your block wont be processed immediately that's why people run into altcoins and that's why the price of some altcoins has dramatically increase. Some people saying that altcoins has superior technology but will it be still superior if they get millions users like bitcoin?

[0t3p0t]

In the past few days, litecoin started growing really fast and it's now almost hitting 350$ on coinmarketcap. But what is the reason for it to grow this fast? Did they announce something big which I missed?

I think that is because Bitcoin's transaction fee is too high that is why investors are switching to a much cheaper with Lightning Network capability coin that is also has potential. Transaction fee is nearly to get into ten dollars for a transaction so that is a big deal when we are talking about a currency so meaning the lower the fee the better. I am not sure if the devs had announced something but one angle or factor I noticed just recently is that Ethereum platform experienced serious issue that is why I think investors switched to an alternative that is cheaper, safe and is something like Bitcoin. Litecoin is also my coin of choice but unfortunately sold mine due to an emergency. So I missed the ride again.

[eann014]

In the past few days, litecoin started growing really fast and it's now almost hitting 350$ on coinmarketcap. But what is the reason for it to grow this fast? Did they announce something big which I missed?

Maybe also like bitcoin, because many people now are getting interested in litecoin. If you have it before for sure you earn a lot today, so they are so lucky right now. I don't really have a litecoin, I am just also wondering about the fast growing on it. And it is really amazing, it really rise so fast. Maybe it is not too late to buy litecoin.

[ronremsey25]

Maybe it is because they want to join the trend of the rise of Bitcoin and Etherneum price.The litecoin developers want to recognize their coin once again in the market. Because of the rising of Bitcoin the other coins have no so much attention. So the litecoin make their move and that result to the rise of price of the litecoin.

[cryptousher]

Being the new adoption for transacting might be one of the reason of this sharp rise. The fees and confirmation speed is muvh lower and faster than Bitcoin. At the end its a currency and a great way to transact actually.

[chocopapaya]

It's all the new money that has been pumped into crypto the last two weeks led first by us investors through coinbase than korean investors.
Just this past week I have had three people from my extended family get into crypto.
It's seriously gone viral and on its way to mainstream adoption.

For a lot of people, they first hear about bitcoin, set up their coinbase account, and then scoff at the high price of btc.
So they naturally gravitate towards ltc, the cheapest out of the three offered.

For many of these new investors, they really have no idea what they are buying, which will make 2018 an incredibly volatile year for crypto.
I think 2017 was the year that was good to almost all coins, then 2018 will see certain projects absolutely blow up and moon while others die a painful death.

The fight for the top 10 coins will be especially vicious so choose your coins wisely.

[iconoclast]

I wonder how much of it are people taking profit on Bitcoin and looking to diversify?

[samarahewasht]

 i think this is the reason ,Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. According to Coindesk, Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed.

[wklt2002]

I never thought alternate coins have a chance to grow despite of bitcoin's drastic price hike that really hurt alternate currency holders. Since the value of every digital currency is determined by the law of Economics' supply and demand, it's safe to say that Litecoin's rise is due to the demand of people. Lots of investors are pouring in their money on this alternate coin for so many reasons. With that, congrats to Litecoin hodlers by the way.

But isn't kinda weird that all those investers join litecoin at the same time and not earlier?

[loloy]

Litecoin simply served its purpose as an alternative coin. Since bitcoin is rising, making its price difficult to afford, people with low budget gets litecoin because it is cheap and everyone can afford it which makes the demand to increase.  That is really what alternative coin is for.

[danherbias07]

This coins which are also popular and have a lot of investors too cannot be left with just a little exchange to bitcoin.
The value from altcoin to bitcoin should still stay that is why I think they should also rise to make that equal again.
Some are getting nervous because they bought altcoins at a price of .5 bitcoin before and now they are holding it equivalent to only .25 bitcoin. That sucks. Although USD value is larger it is not fair.

[Herbert2020]

the same reason as other altcoin pumps: bitcoin price is stable once again.

regarding Litecoin it also is because bitcoin is building up a huge backlog of unconfirmed transactions and as a result the fees are rising so fast. that is a known cause for altcoin pumps this year.
additionally there is all the advertisement that LTC is getting these days as being the "better version of bitcoin"! believe it or not it is effective specially when the developer Charlie Lee is super active everywhere specially on Twitter promoting litecoin.

[francedeni]

Litecoin simply served its purpose as an alternative coin. Since bitcoin is rising, making its price difficult to afford, people with low budget gets litecoin because it is cheap and everyone can afford it which makes the demand to increase.  That is really what alternative coin is for.

I agree with you litecoin rise so fast due to it has good investment and fees are good also than bitcoin transactions. Also, litecoin on top altcoins if we could hold today still we can earn. Litecoin is the best investment and still in demand.