Why did Litecoin rise so fast?

[Krezz2017]

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.

[DonaldTramponald]

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?

Interviewed media experts evaluate this increase and explain it with different reasons.

Someone said that the better scales litecoin compared to bitcoin, and looks convincing as a payment system. Others describe litecoin as an investment that caught the "tailwind" in connection with the arrival of new investors to the market, so the attention paid to bitcoin in the last few weeks was a turning point for all other cryptocurrencies.

Anyway, buy litecoin now, I would not, and waited for correction.

[keycellko]

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 the reason why the value of litecoin has increased is because of bitcoin. Little investors like myself can't afford the huge transaction fees of bitcoin. Bitcoin has forgotten the reason why it was made in the first place. The founder made it to opt out of centralization and humongous fees of internatiinal money transfer. Liyecoin is the answer to the woes of little investors that's why instead of buying bitcoin, litecoin is next in mind.

[romero121]

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 the reason why the value of litecoin has increased is because of bitcoin. Little investors like myself can't afford the huge transaction fees of bitcoin. Bitcoin has forgotten the reason why it was made in the first place. The founder made it to opt out of centralization and humongous fees of internatiinal money transfer. Liyecoin is the answer to the woes of little investors that's why instead of buying bitcoin, litecoin is next in mind.

As it is completely based on the bitcoin platform, people might have got such a thinking same as that of the above mate. Another thing is the altcoin market is found to be in  boom. Along with litecoin, Eth too seems growing high. Based on the same it is expected to grow in an mutual manner.

[JayFKay]

There isn't really a mystery here: US Futures market opens up to bitcoin - Satoshi Nakamoto is missing in action/Australia so they interview Litecoin creator Charlie Lee to get his take on the rapid rise of Crypto..

Naturally to be polite & respectful to Charlie & evidence why he's their go-to guy they have all the Litecoin charts on the TV news also and it just happens to be peaking, so that peak = more peaks as millions of Americans pile & in then start telling their friends/family about Litecoin "forget 3% in the bank all year I made 40% overnight lets go!" type stuff

NOW Here is what sort of things America is reading..

"Forget bitcoin, its fourth-biggest rival is up nearly 5,800 percent this year. ... Litecoin, the fourth-largest cryptocurrency in the world by value, has hit a record high and rallied nearly 5,800 percent this year, beating rival bitcoin's rise

no wonder America is buying - the secret is out!

Litecoin price hits record high, up nearly 5,800 percent this year
www.cnbc.com/2017/12/12/litecoin-price-hits-record-high-up-nearly-5800-percent-this-year.html

And here is what millions of Americans are watching on their TV news:

CNBC News even has a ticker titled "LITECOIN WATCH" and the % gains

https://www.cnbc.com/video/2017/12/12/the-man-who-called-the-bitcoin-rally-sees-this-for-litecoin.html

Gdax - the American exchange has been at the top of the trade charts with more than double the Litecoin & ETH trade of the next exchange on most days this week including today - see it here: https://coinmarketcap.com/currencies/volume/24-hour/ so that's the what the new American markets are flooding in to buy

[panghae]

Because Bitcoin and Ethereum facing a lot of problem with its network,so the people chose litecoin to be the substitute coin because its transaction speed is better than the BTC and ETH.

[kevindeangelis]

Umm i really don't know how it went like this ,lol, but many people thinks that Litecoin now one of the reliable coins in the market. Seems like it'll continue rising.

[scoobidoobydu]

I had the feeling that litecoin will continue go up and up.
First is because LTC seems to the answer when some BTC holder release their BTC due to recent price stop.
Second, just look at how quick and less fee LTC be compared to BTC. Last time, I send a small amount of BTC($140) with $18 fee.
Finally, it seems people accept LTC and ETH is two main alternatives right behind BTC

[askmecrypto]

There are a lot many reasons for LTC Pump in the recent days, few to mention are as follows:
1. Implementation of Lightning Network is coming close
2. Lightning Network successfully tested on MainNet
3. New Marketing push on LTC
4. Charli Lee on CNBC
5. LTC is always considered as the silver of cryptocurrency
6. When people are unsure about BTC or ETH, LTC is the token they found refuge in.

Cheers!!

[cryptamod]

Because of the congested networks of the BTC and ETH people got triggered to switch to litecoin with its fast transaction speed.

[sangwookie]

The coin has been fluctuating wildly and it is very unpredictable. As others mentioned, it is a great coin for transferring funds out but the value never really went up so high. I got in a bit high and I am holding bags at the moment. I'm sure it will go back up but it is hard to figure out when. I hope you are careful if you are trying to get in on LTC.

However, in the long term, I think that it is very undervalued compared to BTC but the value is relevant to what BTC is. If BTC crashes then everything crashes. AND No, Bitcoin Cash or BCash or whatever that nonsense is won't save it.

[erick94]

There are a lot many reasons for LTC Pump in the recent days, few to mention are as follows:
1. Implementation of Lightning Network is coming close
2. Lightning Network successfully tested on MainNet
3. New Marketing push on LTC
4. Charli Lee on CNBC
5. LTC is always considered as the silver of cryptocurrency
6. When people are unsure about BTC or ETH, LTC is the token they found refuge in.

Cheers!!

I agree with you there are several factors that affect the rise of litecoin as you say. but why are the demand and supply factors not included, whether the demand and supply are not included in the factors affecting the price of litecoins

[zchprm]

Because litecoin is much cheaper than other significant coins. Many people then bought litecoin and then now its price skyrocketed.

[wklt2002]

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.

[asepsetiawan1990]

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.

[eternalgloom]

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.

[Ceballos]

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.

[Ging]

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.

[shaun98]

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.

[oscarrsm]

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.

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.