Everybody thinks Bitcoin is the only cryptocurrency in the world which is making waves, but they couldn’t be more wrong.
Introducing Litecoin, the relative new kid on the block and a currency which has just jumped 29 per cent in the last 24 hours.
This is a massive jump and marks the growth of the currency since the beginning of the year at a total of 4,315 per cent, according to Forbes.
Just last Thursday, Litecoin jumped from $90-$100 to $120-$130, which works out at 38 per cent in a mere 9 hours and since then, prices have been soaring even higher – this morning Litecoin prices peaked at $186.87, marking the 29 per cent hike.
There are numerous reasons for this, including the launch of Bitcoin futures on the CBOE, which has caused a spike in Bitcoin prices.
This is of note, as Bitcoin prices tend to influence other cryptocurrency trades, especially those of Litecoin.
As a bottleneck effect is beginning to slow growth in Bitcoin, Litecoin could well be proving to be an appealing alternative for faster speeds and lower transaction overheads.
It’s also worth noting, Coinbase, the cryptocurrency brokerage, has become the number one app on the Apple App Store, overtaking YouTube.
Coinbase as a brokerage can only be used on transactions of Bitcoin, Ethereum and Litecoin, which obviously favours those currencies.
Increased media attention on Litecoin could also be a cause of the steady price hike; Charlie Lee, the creator of Litecoin, is evangelising the currency as the one to use for fast transactions and daily use.
Whatever the reasons, December is going to be a month to celebrate in the Litecoin community, as it’s one of the biggest months in history.
Let’s just take a step back at the currency whose value has doubled in the space of four days, having begun at a mere $4.33 at the beginning of the year.
PixabayIf you want to keep an eye on the price of Bitcoin, then a new app has just launched, which is going to keep everyone updated on just which way the cryptocurrency is going to go.
The app is called Bitcoin Bubble Burst and was presented at the Disrupt Berlin hackathon mere hours ago, according to Tech Crunch.
The app alerts you of any major price changes and news which could affect the price of Bitcoin – and it does this in real time.
However this isn’t the first app to do this, so what’s new? Well, BBB actually uses artificial intelligence to predict when such changes might occur.
Bitcoin Bubble BurstSo, according to the creators of the app, BBB will give you warning when something is about to happen.
Obviously, the longer this AI has access to data, the better at predicting it will be.
The AI will be looking out at key trade prices which are linked to Bitcoin, as well as news of any countries banning Bitcoin and any news which could affect the price.
PixabayIf the changes are large enough, you’ll receive an email – like the one above – which explains the reason behind their prediction, which in time, will help you decipher the international news and how it might affect Bitcoin.
It surely will only be a matter of time before the same option is available for Litecoin?
