Exciting news for Litecoin today as it jumps up nearly 25% within 24 hrs!! There is much speculation that it can hit $65-80 by August if breaks a new high this week!!
WHY THE SUDDEN RISE?
On July 2, Charlie went to Wuhan to meet litecoiners and miners from all over China. The meetup is interpreted by the media to boost morale and sustain litecoin momentum. If anything, Charlie has successfully inspired litecoiners’ confidence as LTC price increased from 270 yuan to 320 yuan overnight. This is huge news as China is becoming Litecoin's biggest customers. This goes back to my argument that Litecoin is indeed an undervalued coin compared to Bitcoin and Ethereum...
"The activation of Segwit is a turning point in the course of Litecoin development. When I first heard of Segwit last year, I took a three-month leave and focused on studying the technical upgrade. Later I chose to work part time at Coinbase, so I could work to make others realize the benefits of Segwit. It was no easy to convince of miners and mining pools supporting Segwit, but it was worth it. Litecoin price has been going up, Coinbase and Bitstamp are listing litecoin. I am confident that more merchants and companies will realize the real value of Litecoin. It’s time for Litecoin to shine." - Charlie Lee
As an owner of some Litecoin myself I am very excited to see the attention that Litecoin deserves!! As they say TO THE MOON!!
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(Source: http://news.8btc.com/charlie-lee-creator-of-litecoin-goes-to-wuhan-on-july-2-to-thank-miners-and-mining-pools-for-supporting-segwit-on-litecoin)