Due to the recent hype of Bitcoin earlier this week, Litecoin (LTC) has reacted with a massive run of its own. The cryptocurrency is now approaching a 100 percent price increase just 24 hours after Bitcoin cooled down.
Impactful surge of Litecoin
The price of Litecoin is quickly heading for $200 USD, marking LTC as the sixth largest market capitalization at almost $9 bln.
— Charlie Lee [LTC] (@SatoshiLite) December 8, 2017
Recently, there was some concern that a “flippening” would take place, with Bitcoin Cash threatening to overtake Bitcoin’s place as the leading cryptocurrency. However, if present trends continue, a different type of flippening may occur with Litecoin’s market cap potentially eclipsing that of BCH.
Litecoin supports Bitcoin
Litecoin has historically played a fundamental role as a tester for Bitcoin, implementing potential BTC additions in a smaller, more controlled environment to see how successful they may or may not be.
Litecoin’s creator, Charlie Lee, has maintained a supportive attitude toward Bitcoin, and it’s logical to suggest that Litecoin will not stray from its role anytime in the near future.
Bitcoin is making a HUGE statement today showing all the altcoins who the king of crypto is! Wow.
$16500 now. I’m expecting a correction anytime now. But then again, I have been expecting a correction since $5000. What do I know? ? pic.twitter.com/ibEp2AocFJ
— Charlie Lee [LTC] (@SatoshiLite) December 7, 2017