Litecoin revisits record highs

Omkar Godbole FXStreet Contributor

The Satoshi cycle seen in Bitcoin is now feeding into other cyptos. The latest to spike is Litecoin, which revisited record high of $55 levels before retreating to $51.50 levels.

As per coinmarketcap.com, Litecoin has gained 10.23% in the last 24 hours. Volumes on Bithumb jumped 20.88%. Again, the rally is largely being fuelled by South Korean Won [BTC/KRW] and Chinese Yuan [BTC/CNY].

A significant majority in the markets believe Litecoin is undervalued compared to Bitcoin and Bitcoin Cash. It is also believed that slow transaction speed no Bitcoin could force investors to switch to Litecoin.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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