Benzinga – Litecoin (CRYPTO: LTC) is buying and selling greater by 19% to $103.39 Monday afternoon. A number of altcoins are buying and selling greater in sympathy with Bitcoin after the apex crypto hit a brand new all-time excessive of $72,000.
A surge in Bitcoin’s worth typically attracts new traders and merchants to the cryptocurrency house. These new individuals could diversify their portfolios by investing in different cryptocurrencies like Litecoin, which might result in elevated demand and a subsequent rise in Litecoin’s worth.
Litecoin additionally shares many similarities with Bitcoin, together with its decentralized nature, restricted provide, and use case as a digital forex. As such, traders who’re bullish on Bitcoin may see potential in Litecoin, particularly in the event that they imagine it gives distinctive benefits or has room for development.
See Additionally: Michael Saylor Sees Zero Catalysts That May Carry Bitcoin Costs Down: ‘We’re Simply Ready For The Relaxation Of The World To Notice’
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