The massive run-up since the weekend’s price of Litecoin has grown from under $100 on Friday to almost $300 at the present time. The market cap of altcoin is also growing along with the price and its market cap has reached $16 billion within 2 days.
The price growth has been attributed to a combination of the increased awareness of Bitcoin, and the potential to become the payment method of choice, whether the Bitcoin price becomes so large that the smaller payments are not workable.
The price increment made some people tweet on twitter saying that #weshoul’veboughtmoreLitecoin since the investors regretted not buying more of the altcoin when the prices were low.
The huge increase in the Litecoin market cap and the price points globally reflected global growth in 2017. This increase is considerably higher. The current Litecoin market cap is higher than the entire market cap of all cryptocurrencies while combining at the beginning of the year.
Part of the growth in cryptocurrency investments comes from the investors shifting out of traditionally stable investment vehicles, like gold, to sync heir toes in the crypto-water.