Why Is LTC Price Going Up?

[Ymerej]

Litecoin, a fork 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.

The start of this week saw the launch of Bitcoin futures on CBOE, the Chicago Board Options Exchange, which could be a significant reason why the price of other virtual currencies are rising. As Litecoin is a fork of Bitcoin, and the fork causing Bitcoin’s price to go up earlier this year, if Bitcoin is doing well, we should expect the same of Litecoin and Ethereum. Litecoin has lesser name recognition and it could be a better option for investors, however, as there is not as much controversy surrounding this coin, (perhaps because it is not as well known), offers faster speeds and lower fees.

Another possible reason could be the media coverage of Bitcoin and Charlie Lee’s recent fame with a lot of news outlets asking for the Litecoin founder to discuss the BTC price increase.

 

Resource Link: https://www.forbes.com/sites/madhvimavadiya/2017/12/12/what-is-litecoin-why-is-ltc-price-going-up/#654227076661

[GodLoft]

litecoin and ethereum price jump,

many bitcoin player invest other cryptocurrency

[barbaris]

Many currencies have grown against the background of the growth of bitcoin.