Bitcoin Forum

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Panic sellers.. BTC is up, ETH/ETC is up. Scared sheep will sell.

Someone decided that Litecoin was old, classic "buy the rumor,sell the news" type of event.Daytraders who dont know all Segwit drama and etc..They think in moment of Segwit lockin price is the highest..

I think we need to wait before first Segwit blocks appears in live test, also Coinbase and LN implementation.

Buy the rumor, sell the news.

It is simply a correction. The price has gone way up over the past month. When the dust settles, its value will still be above its old value.

We probably won't see another LTC pump until there is news that Segwit is close to being released on the main chain and/or until it does.

@denny, haha... as I hit post I see that you beat me to it. 😁

yesterday+ bitcoin was around $1200 and litecoin was 0.0125BTC which means it was worth around $14.5-$15
and now bitcoin is worth $1300+ and litecoin is worth 0.0112BTC which means it is still in the same range of $14.5-$15 ($14.53 to be exact)

is this the same decline you are talking about?

this is not a decline, it is called holding the line :D
if litecoin price stayed up at 0.0125BTC that would have been a big ass price rise for no reason!

and yeah there is also the panic dump because of fluctuation like this. and nobody cares about $$ value of an altcoin but it still affects the price.

This. The pump happened when Charles Lee announced he had got an agreement with the miners. People pumped, and then took profits.

Now they're waiting to see if people actually use segwit - if they do, that will be important news and it will pump again. If they don't the whole segwit experiment will be proved to be a lot of fuss about something users didn't want, and the price will drop again.

Just profit taking.

When the first coins change hands via the Lightning Network it will continue its upward trend. Confidential transactions will be likely be included in the next release. I think the Lightning Network will come soon since they already tested it on LTCs testnet.

Then there is coinbase. It seems that there are regular announcements. For example today I was looking at this series of statements:

https://twitter.com/dieguito/status/857564092583858177

just buy the dips and sell the highs to make daily profit and enjoy your life.
otherwise just buy before the pump and stop looking at the short term dumps if you really think SegWit is going to push the price really high (which most of us do). these short term changes are for those who want to do day-trading or have given up on litecoin and think the rise is over.

Im thinking too that the rise on price of Litecoin is over and now it tends to go back on its previous price jsut my own view but well its just really a normal scenario when the price is high enough then coin holders or bag holders will surely sell out to secure their profits.Its just like that and its not surprising anymore.Just wait for the dip and buy as long as you can but without knowing on when again the price would rise.

People would have been speculating on this for a long time. Those speculators would be booking profits now.
Unless there is further positive news, there is little upside.

There is still a good chance of litecoin rise in my opinion. Now profit taking only those who entered just after the Charlie Lee and publication about meeting. Pre-round table pump profit taking period.
News about first Segwit blocks on LTC and/or news about LN will definetly make a good price..

If not Segwit/ LN story will be over...and it would be sad not to see all this promised new tech goodies.

But in my opinion it will not happens. Because it is also will mean the death of those from Core developers who now entering to Litecoin Core coding. Also Lighting Network developers. Market will definetly invest in new tech..Evolution is always supported and new research is always needed as new developers and etc..

It is just very little chance that the all story is now over. :)

Just wait.

Litecoin has never been a crypto of strong holders.

Most litecoiners sell at the first sign of red and can't hold their coin.

It has always been this way.

Good observation. I am sure that current holders of LTC realized that there is no need to hold litecoin anymore.
They earned a lot already, price rose from $4 to $14 during few weeks. How much it will realistically grow? Not much more I think.
Litecoin is losing momentum because it is time to sell LTC and join BTC hype train.

Funny thing is, if Litecoiner's could hold their coin and actually build an ecosystem, it could easily be worth several billion dollars.

It has everything in place, Seqwit, LN works almost out of the box, then they can add side chains and drive chains and actually start leading development that is currently only possible on Bitcoin testnets.

But nope, they won't do that as every Litecoin holder is weak, they don't believe in their own coin!

They can't develop and they can't hold their coin.

So what do you expect?

Instead of stupid chicken memes maybe they should be setting up LN nodes and building side chains?

Now Litecoin is technically in front when it comes to technical ability as compared to Bitcoin. Now this the time to steal back 2nd place.

Where is all this innovation?

Litecoiners spent years watching Bitcoin grow and complaining that they couldn't grow too. Thing is they wanted to grow with no work.

Now they are in front and this just shows that they haven't got the balls to lead.

Don't be fooled by randomness.

No really.

https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219

Are you realize that it will mean not only price fall for Litecoin. It is death of Litecoin, because they can not copy code anymore from Bitcoin Core. And they allready can not push back to simple Litecoin. The choice is over. 2 weeks latter it will be new born coin Litecoin Segwit.

Just wait when new Segwit blocks will aper on the hashing network price will rise again.
Offcourse if there will be no bug in Segwit :))

Probably this event was already "in the price" and, as the price didn't go to the moon after it occurred, people capitalized their gain and went to another coin, trying to obtain more profit. The SW benefits to LTC will become more apparent in the next months when new protocols start to use it in full capacity.

https://twitter.com/dieguito/status/856155709582475268  - Smart Contracts for Litecoin Segwit

https://twitter.com/JackMallers/status/857357930777149440  - Developers working for Lighting Network

Developers are coming after Segwit implimintation. Everything fine.

No,no you are wrong it is not over. Just the falls manevr from traders, just trying to panic market and make as much people as possible  to sell low, buy high again :) Also market can not just wait for 2 weeks before work for Segwit Litecoin will over. They just moved shortly. Because 2 weeks is a time where you can make money somewhere else. They pumped ETH and BTC again. I am sure they will return when first block of Segwit will be mined. And  will be the first live tests with Segwit and/or LN

I think the news has already been played. The traditional movements in the crypto currency market speak about what you need to buy on the rumor, and to sell on the news.

Lightning on litecoin in two weeks.

https://twitter.com/SatoshiLite/status/857634153793175552

Frankly the news for litecoin is just beginning, the folks saying it's over just aren't keeping up.

It is allready 15.43$ @ Bitfinex and 13.52 Eur @ Kraken.

It was a trap for those who entered @15-16$, than they probably panic and sell @ 13$ and guess what? Right, they will buy again at 16 or 17$ because of FOMO, because after we will get 1st block with Segwit there will be another pump.
LN and Coinbase will boost price again.

Also most LTC holders are china miners and after hashrate and dificulty is allready too high, they need profit from mining.

PPROHASHING pool CEO Steve Sokolovski at his company forum has mentioned profit price for LTC mining now  ∼ 17$

Be clever.

P.S:

I have found new info:

"The increased difficulty made their mining unprofitable (Jihan's new mining equipment came online on LTC1BTC and LTC.top). ProHashing dropped out of the market" Thats definetly is a great news for Bitmain. So they probably will keep price below 17$ for some time more. To destroy small miners. Offcourse they will do not lose moneymine without profit for themselves for long and price will rise.


And more thing. Do you imagine how cool it is?

" Of the two, I prefer LTC, because it costs $0.12 to send $3500 yesterday within 2 minutes, while it costs $7.10 to send $6000 of BTC within 12 hours"
and this is being said without SW + LN wich comes 2 weeks latter!

Not for long they are gaining ground,let those unbelievers sell their coin,this is the best time to acquire litecoin.development is on going the news of litecoin being a dead project has long been gone but they have to work harder,developers and supporters to gain the second spot.

Very good points. The full name of the new coin is "Litecoin That Didn't Need Segwit"


I predict 2 major bugs in LTDNS LTC/Seg within the next 3 months, with 65% certainty. Nice shorting opportunities if you happen to find the bugs...

It's just how supply and demand works when price changes. Sometimes it's hyped more, and SegWit isn't as major as the hype.

i don't think it's an extraordinary declining, i think it's just normal happening like any other crypto that goes up and down in terms of pricing, cryptos are volatile and the price can change in a sudden and we already knew that.
that's how the crypto moves.

I think a lot is priced in already...

Segwit activation - priced in

Lightning network - priced in

Some developers switching to Litecoin to build on top of Segwit enhancements - priced in

Litecoin on Coinbase - priced in

Litecoin on Trezor - priced in

So the LTCBTC price will likely fall for a while.

However some of the implications of Segwit are not fully understood yet, nor are the many benefits of LN. These advancements are full steam ahead now and Charlie Lee has shown he is very open and even involved in moving things forward.

CT (Confidential Transactions) https://www.reddit.com/r/litecoin/comments/61264o/is_litecoin_confidential_transaction_still_under/

MAST (Merkelized Abstract Syntax Trees) http://www.coindesk.com/inside-mast-little-known-plan-advance-bitcoin-smart-contracts/

DriveChain + SmartLitecoins https://twitter.com/dieguito/status/857564092583858177

I'm quite optimistic but under no illusions, the Litecoin price is still very fragile and $6-10 or 0.006 - 0.008 might be a good entry if it falls that low again. But I would start dipping your toes in now because crazy things can happen when the underlying technology allows it.

@btbrae

Yes - stuff is priced in, and people are waiting to see if anyone actually starts USING litecoin. No sense doing a lot of development on a coin no-one uses.

Here is their transactions graph:

https://bitinfocharts.com/comparison/litecoin-transactions.html

under 6,000 transactions in the last 24 hours. This is not a coin that is being used.

6k transactions per day is pathetic. 

It's quite possible that the litecoin volume is mostly on exchanges - those trades don't have to go in the blockchain until they're withdrawn.