Why Litecoin prices have doubled this year

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Why Litecoin prices have doubled this year

The price of Litecoin has doubled during January-March as increased from $ 30.35 to $ 62.77. In the article Forbs mentions 5 factors for price raise:

  • The number of businesses that have been using Litecoin as a payment method are significantly increased.
  • Litecoin has essentially reduced its transaction time, making it more effective to be used.
  • The transaction fee decreased by 75% and is expected to be further reduced.
  • The halving policy is planned in August which will reduce the rate at which new Litecoin will enter the market and will cause raise its price.
  • The increase in price also led to the privacy development via Mimblewimble protocol, which makes virtual transactions unable to be found.

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