Why Litecoin Is Popping Off

Litecoin LTC/USD is trading higher by 19% to $103.39 Monday afternoon. Several altcoins are trading higher in sympathy with Bitcoin after the apex crypto hit a new all-time high of $72,000.

A surge in Bitcoin’s price often attracts new investors and traders to the cryptocurrency space. These new participants may diversify their portfolios by investing in other cryptocurrencies like Litecoin, which could lead to increased demand and a subsequent rise in Litecoin’s price.

Litecoin also shares many similarities with Bitcoin, including its decentralized nature, limited supply, and use case as a digital currency. As such, investors who are bullish on Bitcoin may also see potential in Litecoin, especially if they believe it offers unique advantages or has room for growth.

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