Litecoin Price Peaks at 30 USD, But Is It a Bubble? Will Bitcoin Activate Segwit?
Litecoin (often dubbed Bitcoin’s silver) has seen a significant price spike these past few weeks. Due to Segwit locking in and the Coinbase listing, it has experienced a price increase of over 300 percent, peaking at US$30 at the time of writing.
It seems that litecoin is well underway to surpass 30 USD, but it is hard to tell whether it will maintain this upward trend in the long run.
Six Chinese Litecoin investors had a discussion about what’s next for Litecoin on this year’s Labor Day. To protect their privacy, all names used in the story are fake.
Stone: Guys, Litecoin is on fire!
Lee: Crazy Litecoin, only rise and no fall.
LOL: The last spike before slump .
Stone: Seriously, I bet Litecoin price will ultimately break 18,000 CNY.
LOL: And by ultimately, do you mean the next century?
Stone: Come on, guys! Be optimistic!
Lee: Litecoin price reached over 100 yuan, quadrupled in a month! How much did u earn?
Yang: This is just small money. Let’s wait and see its price break 2000 yuan.
Wang: This indicates that if Segwit were activated on Bitcoin, btc price will skyrocket.
LOL: I am expecting a waterfall plunge tomorrow.
Yang: Don’t be such a spoiler.
Stone: You are just jealous; coz u didn’t buy Litecoins at a lower price.
LOL: Those whom god wishes to destroy, he first makes mad.
Sweetie: Big waves, possible flooding on the way.
LOL: b4 ltc fell from 380 to 6. I’m telling you history will repeat itself.
Lee: If so, it will rise to 380 again and fall to 38, and I will sell them at 360 and buy more at 38. Haha, it’s perfect.
Sweetie: Yeah, coz life is just that nice!
Yang: 380 is a must-be.
Stone: Yang, did you buy ltc?
Yang: Sure! Who doesn’t want to earn money?
Stone: Last week you told me you were going to buy BTC, so I followed you and bought btc. Now I just wanna cry.
Yang: Relax, dude. No need to worry. You will gain profit from both.
Lee: Don’t worry. Remember, we bought ltc at the price of 20, even if its price dropped to 20, we’ve got nothing to lose. It’s a tie.
Stone: If you stopped investing now, you will hate yourself later.
Lee: ETH rises from 40 to 560, this could also happen to ltc.
Wang: Chances are ltc will take this chance and surpass btc.
LOL: I don’t wanna be a bitch, but surpassing BTC? I am absolutely speechless.
Yang: Just bear this in your mind Litecoin does not have the same issues Bitcoin has and it is likely to rise at least ten times.
LOL: But btc is highly concentrated and litecoin is too scattered.
Sweetie: BTC=liquidity; ZEC=anonymity; ETC, ETH=smart contract. And Litecoin=???
Wang: Doge is truly scattered, but Litecoin has become very concentrated since the implementation of Scrypt.
Yang: When SW be activated on ltc, smart contract could be achieved with RSK. And with LN, it will enable faster confirmation and lower transaction fees, almost zero fees. Sadly, some mining pool is deliberately blocking all these from happening.
Stone: I hope SW will not be activated on btc, otherwise, ltc will never stand a chance to surpass btc.
Wang: Well, that’s true. Many still look at Litecoin as a Bitcoin testbed.
Yang: But the fact is that Bitcoin keeps meeting opposition from miners. And I don’t think it will get Segwit activated soon. Anyway, let market take its course. I can only wish both Bitcoin and Litecoin have a slow bull market this year.