Sunday marked a new all time high for Litecoin. Driven by large trading volumes on the Korean and Chinese exchanges the price of Litecoin reached beyond the USD 60 mark with a market capitalization above 3 Billion Dollar.
Charlie Lee got quite excited when passing these milestones and tweeted to his 90,000 followers. Litecoin did well after the SegWit activation on the 10th of May 2017.
The prices have been up 1300%
Starting September 2016 with a price of USD 3.75 and now USD 60.60 is a nice 12 month performance of Litecoin.
The bullish sentiment was driven by the the technological improvements of Litecoin and the overall sentiment in the market of crypto currencies. The strong rally upwards started in April when miners agreed on the Segregated Witness activation. After the activation the price reached the 40 Dollar market and on the 2 Billion Dollar market cap was reached on 16th of June.
Future outlook of the months ahead
With SegWit activated and the developments and power play in the Bitcoin community, there could be a next bullish run to reach new highs. Will the Litecoin price reach the 100 Dollar mark? November could be a quite volatile for Bitcoin because of the SegWit2x hard fork. Will Litecoin profit from influx of capital from Bitcoin?