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The question I am asking at the moment is whether we are witnessing a 'short covering' rally at the moment in Litecoin and other Cryptocurrencies?

I think we are about to find out. It is difficult to tell at the moment and it could be that a further downward move may materialise or a new bullish upward move may begin. The only way of knowing as early as possible is to follow the price action and see what it tells us. 

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@GodInyou,

If you are asking if it is good to mine Litecoin then that really depends on you. It can be very costly so how deep are your pockets? Do you have the specialised equipment necessary to mine Litecoin? Do you have access to cheap electricity? Why do you want to mine Litecoin? What is it that has made you think of this?

The key question is do you think the price of Litecoin is going to continue upwards to make it worth while mining Litecoin at current prices? What if the prices decline?

 

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