Litecoin: Don't Chase This Rally

SummaryLitecoin shot up 10% on 11/2 and 15% in the past month, outperforming Bitcoin.Litecoin is worse than Bitcoin in most attributes that matter.Long-term crypto investors should consider buying Bitcoin instead of Litecoin.ThesisLitecoin (LTC-USD) is unlikely to outperform Bitcoin (BTC-USD) in the long term despite arguably being the better cryptocurrency for payments and transactions. This is because it lags Bitcoin in terms of security and developer interest, among other issues.What Is Litecoin?Litecoin was created as a fork of Bitcoin in 2011 with the goal of making a cryptocurrency more suited for payments and transactions. It uses proof of work like Bitcoin, but it uses a different proof of work algorithm that results in over 3x faster transaction confirmations and up to 50x lower transaction costs.Besides using a different proof of work algorithm, Litecoin and Bitcoin are very similar from a technical perspective. However, investors so far have preferred Bitcoin, as Bitcoin has a market cap of $387 billion compared to Litecoin's (still respectable) market cap of $4.4 billion.Why Did Litecoin Rally?Interest in Litecoin shot up on November 2nd after MoneyGram (MGI) announced a new feature that will allow users of its mobile app to buy and trade Bitcoin, Ethereum (ETH-USD), and Litecoin.Bitcoin and Ethereum didn't really react to the news, but Litecoin rallied from $55 to $62 shortly after the announcement. Investors were...