Bitcoin Forum

the Cycle of litecoin

or as they call it: whales making money

You're suggesting LTC will surpass $40?

where did you get $40 from?!!

The all time high... it was $40.. Soo that chart says it will pass it's old all time high.. It could.. but ya.

Rinse and repeat... ::)

whales aint responsible for everything. For the thinly traded cryptos that may be true, but BTC and LTC are doing ~20m+ of volume per day and are not so easily manipulated. The sudden price swings are almost always the result of panic selling (or panic buying) by the masses. It is a lot easier to make profits by buying up some cryptos and then going on bitcointalk and posting about how they're the next greatest thing since sliced bread, and convincing some others to jump on board. Buying a million dollars worth of litecoin in the hopes that it will start momentum...not so much.

lol the big whales are so powerfull...

i know the same stuf from Forextrading, there the Whales are called "BigBoys".
The funny thing is this is just a distraction.

Look at your own analysis and strategy, if you want make money.
The whales dont make you loosing. You are 100% responsible for your investing decisions.
Dont fear the bigboys, there is a thing called stoploss ;-)

The key to earn money is called risk-reward ratio.
it must be always over 1 if you want to have succsess in the long run.
For every 1$ you risk you should get a potential reward of 1.5 or better.
In the crypto world better apply 1:4 at least. I use 1:10 for example.

greetings :)

Not a hater of litecoin but what has it really got to offer as compared to the newer innovative alt coins in crypto?

There are some serious kick ass minds in alternative currencies at the moment, and some with core coding prodigies. I'm not sure how a crypto will fare over the long-term with a lead developer that exclaims (on Twitter) that, "development isn't needed right now."

Gotta crawl before you walk. These innovations are great, but aside from a very small cross-section of techy's and anarchist, nobody gives a fuck. Robustness, liquidity and simplicity is needed in this stage of crypto adoption. Bitcoin and Litecoin answer the mail.

oh yeah. the initial huge pump back in 2013 where price jumped, it was because of the $1200 bitcoin price, and since i don't see that coming any time soon i'd say this 2-3$ is it.

As yet, as yet...

You did make a good and very important point about needing to practice. In a way, trading is hellish because it looks so easy but doing it is ------- hard. In a way, we're all slaves of our hindsight bias (https://en.wikipedia.org/wiki/Hindsight_bias)...