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Fork speculation spurs Litecoin price to 1 Month High

Following the price hike, almost every coin was in green with an exception on few coins like TRON. But one coin in particular that seemed to be on run was Litecoin. As of now, the price stands at $229 per coin, with a hike of 23.9% since yesterday. One of the major reason that led to this price hike was high speculation of Litecoin fork.

Changing Winds

As posted earlier, cryptos are finally beginning to grow after the major dip that happened in late January. After spending nearly 15 days in red, almost all coins can now be seen in positive green. The recovery of crypto prices and stabilization of market has begun now. Although its still a long way to go, but a change of stance by many governments on cryptocurrencies is still a good news.

Litecoin Fork

As opposed to major rumors and speculations, Charlie Lee, CEO of Litecoin denies any such fork. In a recent tweet, he expressed his views on the topic.

He bluntly expressed that any such news is false and shouldn’t be believed. Further, all the fork news are scams trying to loot people. Bitcoin’s prices had similarly boomed during the announcement of  Bitcoin fork last year. It resulted in the origin of Bitcoin Cash, although the fork had taken place due to the difference in ideologies.

Irrespective of the truth behind this fork, it has definitely boosted its price. It has seen a price hike of 295 in the past 24 hours. Many traders took advantage of the sudden spike and made a good profit from selling the coin at very high rates.

Litecoin Chart from coinmarketcap

Chart Source: coinmarketcap.com

 

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