If you thought bitcoin has been on a wild ride, check what happened last week with litecoin.
The newer cryptocurrency, which is supposed to be a faster version of bitcoin with a larger supply of coins, increased from around $100 on Dec. 8 to more than $370 by Dec. 12, a gain of 270 per cent. The price has come down, but even after a fall from the peak, litecoin is up more than 7,000 per cent for 2017.
The question is: Why did litecoin shoot up in the span of a few days? There was no news to speak of. There were no changes in the technology or new versions of the currency. One of the biggest reasons for this price boom is that litecoin now has an exchange where investors can easily purchase it.
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