So Litecoin's just started doing it's thing again! So I've decide to make some measurements of the last mid cycle price recovery it experienced between the 20th June 2013 to the 4th July 3013, and compare them to this current cycle. A few interesting facts about Litecoin's price when measured in BTC:
1) Litecoin has staged similar mid cycle rallies in 3 out of 3 of it's last 3 major price cycles.
2) These rallies are often short lived, most lasting only around the 2 week mark.
3) This current price action was triggered by the March 4th 2013 announcement of BTC China implementing Litecoin as the only other crypto currency currently traded on that exchange.
As I type, the Litecoin market is only picking up more steam with a leak from China's biggest exchange, Huobi, that they are about to follow BTC China's lead and also implement Litecoin. But with all that said, and If less than 3 years of 'history' is anything to go by, Litecoin was due for this price action.
1) Litecoin has staged similar mid cycle rallies in 3 out of 3 of it's last 3 major price cycles.
2) These rallies are often short lived, most lasting only around the 2 week mark.
3) This current price action was triggered by the March 4th 2013 announcement of BTC China implementing Litecoin as the only other crypto currency currently traded on that exchange.
As I type, the Litecoin market is only picking up more steam with a leak from China's biggest exchange, Huobi, that they are about to follow BTC China's lead and also implement Litecoin. But with all that said, and If less than 3 years of 'history' is anything to go by, Litecoin was due for this price action.