Litecoin Rising: More Than 200% Gains in a few Days

litecoin-price-increaseNaysayers have been kicking themselves in the pants the past few days as the price of Litecoin has shot up from historic lows and is now pushing towards $10 per coin.

Renewed interest in one of the oldest, most successful alternative cryptocurrencies has driven buy pressure likely added to by an upcoming halving of the block reward, meaning a reduction in new coins introduced into the economy.

The halving of the block reward is the most likely explanation, although there would have remained a high number of cheaper sell orders on the market from previous mining. (Editor’s input: It might also be due to the spam attack on Bitcoin that is not affecting Litecoin – described here.) These all must have been scooped up in quick fashion by traders. The markets have been particularly kind to several alt coins lately, and Litecoin is the most recent to see a return to prominence. Whether this is market movers and

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