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Could Litecoin Follow Bitcoin's Path?

Similarly to Bitcoin, the cryptocurrency Litecoin is experiencing a dramatic price increase this year. Many are saying the trend will continue.

At the beginning of 2013, a single Litecoin (LTC) cost 0.069 USD only (as of January 1, 2013), while on November 15, it reached 4.27 USD. While the common person would say "that's not much", to the trained savvy investor, it's a huge price increase!

Compare 0.069 to 4.27!

That's 61.88 times more!

If you would have invested only 10 USD in Litecoin on January 1st, 2013, you would have woken up with more than 680 USD on November 15th!

And today, on November 18th, Litecoin had already scored above 5.89 USD, earlier during the day. No-one knows how high Litecoin will go, but Bitcoin has already scored above 550 USD today.

Litecoin more than doubled during the first half of November, after which a "bull trap" seemed to have been forming. Normally, in this situation the trend changes southwards. But Litecoins scored above 5 USD today, so what seemed like a "bull trap" was just a short "hickup"

It's not obvious how high Litecoin could go, but it's the next peer-to-peer digital currency to Bitcoin.

Could this be the right time to invest in Litecoins? Perhaps buying a few wouldn't be a major sacrifice. You decide!

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