The idea of trader is always the same in any given market. Concerns and expectations about commodity prices at a specific time and period. However, is there a direct relationship between Bitcoin, Litecoin and Ethereum?
The answer to that question depends on the combination of digital assets and periods to a large extent. According to our deep study, although Bitcoin currency is the undisputed leader of the virtual currency, there are several times when virtual currency has cooperated with one another concerning the increased price.
What is the relationship between these three cryptocurrencies? The article will attempt to have a deep study about the relationship between Bitcoin, Litecoin and Ethereum.
Bitcoin and Litecoin
Even though not as rich as Bitcoin, litecoin is younger, faster, cheaper, smarter, and a fast-growing. For another thing, Bitcoin is the default virtual currency and must go through all the tough experience before it can comfortably climb to the top today. Nevertheless, the two have many similarities with each other.
Bitcoin was launched in January 2009 and is widely considered to be the first virtual currency all over the world, permitting investors to make financial settlements without the trusted mediator.
Litecoin LTC first appeared on Github in October 2011 and is a branch of Bitcoin's core customer, a few years younger than Bitcoin. According to their website, “Litecoin is a peer-to-peer internet currency that can provide fast, almost free cost settlement for anyone in the world.”
Many observers have charged Litecoin of replacing Bitcoin with the most important virtual currency in the market, but the team of Litecoin unanimously stated that their main purpose is to work with Bitcoin to help solve the world's future settlement needs.
Bitcoin and Ethereum
ETH coin is also a virtual currency developed to follow the footsteps of Bitcoin. Created and developed by Toronto programmer and BTC enthusiast Vitalik Buterin. He believes it is appropriate to propose his blockchain technology and virtual currency to compete with Bitcoin in the encryption market for using as a decentralized platform for financial assets and distributed applications.
With regard to scalability and transaction speed, Bitcoin and Ethereum have encountered platform congestion due to high-user transactions, making Litecoin the upper hand.
All three cryptocurrencies make completely different design choices, and every decision and choice is the same, it opens up opportunities when closing other currencies. Indeed, both Litecoin and Ethereum will determine the performance of Bitcoin, but the vise versa is usually true most of the time.