02-04-2017, 01:52 PM
Yeah well nobody disputes that there was fake volume. There is however also true volume. The true volume shows that each of the three Chinese exchanges are roughly as big as bitfinex on BTC trading. All trade about 10k/day.
On LTC trading though OKCoin has for the week 2,5 Million LTC trades! Huobi probably similarly, for comparison BTC-e still has the biggest LTC/USD margin and did not account for even 0.5 million trades. China is easily 5 times bigger than the US on LTC trading.
From this the BTC/fiat trade is lower than 100k/day while the LTC/fiat trade is probably around 1M/day. This while there are only 3 times as many LTC as BTC.
The velocity of the LTC market is 3 times as high.
Add to this the hype that segwit might give, the all time low that was hit earlier today, the fact that bitcoin is very slow and litecoin incredibly fast concerning confirmation time and the following graph and I am incredibly bullish. (We are in the red circle, the rest is just an extrapolation.)