The recent ruling on Bitcoin by the IRS has effectively killed Bitcoin in the United States. It can no longer be used a currency in that country as compliance with new tax obligations will render far more expensive than fiat.
Bitcoins future is in serious doubt.
Unless this decision is revisited then expect a huge drop in the price of bitcoin. Its currency trading at $540 and will go in free fall when the true implications of this become known. I expect it to be worth $200 by the end of april.
Will this lead to a rise in the price of litecoin? Most likely. Remember..there are enough alternative crypto's out there to effectively keep moving funds from one to the other to avoid irs tax claims. This ruling by the irs is not on cryptos..it is purely on bitcoin.
Thus I believe the natural cause of events will propogate a second generation coin to the fore sooner than many think.
Expect a switch of capital from Bitcoin to Litecoin...and then to the another yet to be known coin
you do know that crypto is worldwide and not US centric?
plus their rulings apply to all coins not just bitcoin, if you think bitcion is going to $200, I'd be happy to buy them from you now, keep you from waiting 1 month