Another Day, Another 20% Gain for Seemingly Unstoppable Litecoin

Litecoin's (LTC/USD) rocket hasn't run out of fuel just yet, gaining as much as 23% to $6.15 on BTC-e, its highest price since the August sell-off.

During such vicious cycles of feverish buying, it no longer makes a difference if the coin gains 600% or 1,000%. The goal is just to buy, since someone else will surely buy after you.

Litecoin had held its ground near $5.00 after falling 10% off yesterday's peak, after which it resumed its trek upward. It has now gained as much as 340% since May 1, and close to 500% since nearly falling below $1.00 in late January.

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's gains, by comparison, are once again negligible, sending the LTC/BTC rate to as high as 0.022- its highest in nearly 14 months. It has needed only 2 months to recover what it had lost over the course of one year.

An aggregate of roughly $18 million worth of litecoin has been traded during the past 24h.

Once again, litecoin is acting solo; most other major Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term are relatively unchanged today, a departure from the wild days where they rallied in tandem.

The fundamental cause for the rally, if one exists, remains unknown. In theory, its initial stage may have been sparked by unease over Bitcoin's future sustainability, aroused by renewed debate over the block size limit and other technical issues. But there is no guarantee that litecoin's design is any better.

After the initial push, the subsequent stages likely stemmed from a combination of short covering and a self-feeding speculative frenzy.