Litecoins Lift Off!
According to razor-forex.com Chinese and Korean investment took litecoin to new highs on recent news.
http://www.razor-forex.com/2017/06/chinese-and-korean-investment-capital.html
"Over the past 24h, a combined total of $300 million (40% of global LTC volume) flowed through OKCoin and Huobi’s
LTC/CNY trading pairs."
While bitcoin and ethereum have dominated headlines over the past couple of months and enjoyed many new all time highs, litecoin has been victim of sideways trading action with a couple of failed breakout attempts in May and June resulting in a depressing double top formation. Over night Asian markets breathed new life into litecoin.
Chart from poloniex.com
The news that turned Litecoin from blah to bullish? The Chinese company bitmain.com announced on June 16th that they will be accepting Litecoin for their very popular Antminer asic bitcoin mining hardware.
https://twitter.com/BITMAINtech
Another big piece of news for litecoin comes from a tweet from bitstamp.com stating they will be adding litecoin to their exchanges on Monday, June 19th.
Litecoin has been at the very least time tested. Now it's time to see if litecoin can continue it's breakout. The chart seems very bullish on top of good news. I would definitely be keeping an eye on litecoin here.
why bitcoin and ethereum tags?
Define altcoin without using the word bitcoin. Although they may not be directly related, the are perhaps correlated.