For the initial period since September 2019, Litecoin came close to the level of $70 this weekend, which spurs rumors about the start of the bull race of Bitcoin.
On February 1, LTC/USD briefly overcame the $70 barrier, saying it had reached local highs of $71.50.
Like numerous other significant altcoins, last month was very prosperous for LTC, which on January 1 was trading for only $43.
This increase of 65% attracted the attention of traders for one reason. As a famous Twitter user Loma remarked on Saturday, Litecoin showed similar results last March.
What if Litecoin is leading Bitcoin again, like it did last year? pic.twitter.com/VHB3RLm5rd— Loma (@LomahCrypto) February 1, 2020
After growing the rate in 4 weeks, LTC lost the pace to BTC, which launched a three-month bull race, finishing in a 19-month record of $13,800.
By analyzing current situations, Loma and others see the potential for recreating the previous model.
"Bitcoin is leading Litecoin," crypto-investor Michael Flaum believes. "Litecoin grew by 5.8%. I don’t know why, but this is a general trend. BTC for $10000 is very possible."
Litecoin leads bitcoin. Litecoin up 5.8% Don’t know why, but it’s a common trend. $10k bitcoin very possible. pic.twitter.com/bR2jW7uaxz— Grain of Salt (@MichaelFlaum) January 30, 2020
Talking about Bitcoin, the forecasts regarding it are quite optimistic.