1 Bitcoin dominance
Bitcoin started trading on Dec. 10, caused a major increase in Bitcoin prices—and plans have been made to launch further bitecoin hardfolk. Experts have noted that Litecoin’s behavior tends to have a directly proportional relationship to Bitcoin’s. In this case, there are two possible ways Bitcoin might be positively impacting Litecoin:
Increased activity in Bitcoin, due in part to futures trading, is trickling down to Litecoin and other cryptocurrencies.
The increased Bitcoin activity is driving up transaction fees and clogging the network, potentially sending users in the direction of Litecoin.
- Coinbase growth
This has been a fundemental reason wht Litecoin has seen such a spike, Coinbase is a secure and a very fast method of buying Bitcoin, Ethereum, and Litecoin. Coinbase has seen majour increase in users buying crypto currency.
New Buyers
Yes it is getting to that stage, where it is now becoming a major norm amongst people acquiring a good share while the marketing is booming. Exponentially bitcoin's transaction has gown up to $13 billion dollars under 2 monthsLitecoin the new bitcoin
It is clearly a statement worth considering, Litecoin is an alternative to bitcoin, though not as popular, it offers lower transaction fee and shares same blockchain as bitcoin.
5 Social Media
Yes this fundementally the reason behind many success stories of major cryptocurrency, Social media Such as Twitter and Facebook have been key players in providing the buyers in regards to updates related to ICOs, Marketing and press releases.
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