Litecoin (LTC) hit $ 70 this weekend for the first time since September 2019, sparking rumors that it will lead to a sharp rise in Bitcoin (BTC).
Data from Cointelegraph and Coin360 Markets showed that on February 1, LTC / USD broke the $ 70 barrier and continued to hit local highs of $ 71.50.
LTC brings 65% monthly profit
As with many other major cryptocurrencies, this achievement was a hugely successful month for Litecoin, which traded at just $ 43 on January 1.
However, the 65% jump caught the attention of traders for a very special reason. As the famous Loma character tweeted on Saturday, Litecoin made a similar offer last March.
After doubling in price in four weeks, Litecoin gave way to Bitcoin, which began a three-month rally that culminated in a 19-month period of $ 13,800.
By analyzing current feelings, Loma and others now see the possibility of repeating the same pattern.
Investor Michael Flum summed it up on Twitter on Friday: “Litecoin is the best bitcoin.”
Litecoin is up 5.8% and I don’t know why, but this is a popular trend. Bitcoin for $ 10,000 is quite possible. ”
The road starts at $ 100k
As reported by Cointelegraph, several trading sources have become increasingly confident about Bitcoin’s outlook for this year lately.
Since leaving the $ 6,000 series, commentators are now largely convinced that a return to these levels is unlikely.
During the market debate on Friday, the two popular cryptocurrencies YouTube added a sense of anticipation, stating that BTC / USD is already in a bull cycle at current levels of $ 9,400, which could reach at least $ 80,000.