Litecoin (LTC) hit $70 for the first time since September 2019 this weekend, fuelling speculation it will induce a Bitcoin (BTC) bull run.<\/p>\n
Data from Cointelegraph Markets and Coin360 showed LTC\/USD passing the notable $70 barrier on Feb. 1, going on to claim local highs of $71.50.<\/p>\n
As with many major altcoins, the achievement caps a highly successful month for Litecoin, which on Jan. 1 traded at just $43.<\/p>\n<\/p>\n
Litecoin price 1-month chart. Source: Coin360<\/p>\n
However, the 65% jump caught traders attention for one reason in particular. As popular Twitter personality Loma noted on Saturday, Litecoin put in a similar performance in March last year.<\/p>\n
After doubling its price over four weeks, Litecoin gave way to Bitcoin, which began a three-month bull-run culminating in a 19-month record of $13,800.<\/p>\n
Analyzing current sentiment, Loma and others now see the potential for the pattern to repeat itself.<\/p>\n
Litecoin leads bitcoin, investor Michael Flaum summarized on Twitter on Friday.<\/p>\n
Litecoin up 5.8% Dont know why, but its a common trend. $10k bitcoin very possible.<\/p>\n
As Cointelegraph reported, multiple trading sources have recently flipped increasingly bullish on Bitcoins prospects for this year.<\/p>\n
Having broken out of the $6,000 range, commentators are now broadly convinced that a return to those levels is highly unlikely.<\/p>\n
In a Market Discussion on Friday, two well-known crypto YouTubers added to the sense of anticipation, arguing that at current levels of $9,400, BTC\/USD is already in the bull cycle, which could reach at least $80,000.<\/p>\n
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Litecoin Leads Bitcoin LTC 65% Gains Echo Start of 2019 Bull Run - Cointelegraph<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Litecoin (LTC) hit $70 for the first time since September 2019 this weekend, fuelling speculation it will induce a Bitcoin (BTC) bull run. Data from Cointelegraph Markets and Coin360 showed LTC\/USD passing the notable $70 barrier on Feb. 1, going on to claim local highs of $71.50 Continue reading