The past several weeks have seen strong returns for various crypto projects, with notable gains for both EOS and Litecoin LTC. Both projects have seen 20%+ 24-hour gains in recent days, and this price action has managed to stick around. What’s at the root of price improvements for EOS and Litecoin? What do they have to do with similar action from Bitcoin? And will we be building on this momentum, or is this another fool’s recovery? Let’s take a look.
As you can see in the image above, the top 5 cryptocurrencies all experienced a dip and recovery in early March 2019. The news was best for Litecoin holders. LTC didn’t fall quite as hard as the other cryptocurrencies in the top 5, and its recovery on the other side has been steadier than even Bitcoin’s.
It’s impossible to point to a single event that precipitated these changes but we can say with confidence that those who buy EOS and Litecoin have Bitcoin’s recovery to thank for their own. When money enters the cryptocurrency industry, it typically does so via…