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Author Topic: New Litecoin rally speculation  (Read 1117 times)
Herbert2020 (OP)
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June 19, 2017, 06:41:37 AM
Last edit: June 19, 2017, 07:54:57 AM by Herbert2020
 #1

you may have noticed that LTC has been on hibernation (which we later found out it was an accumulation phase) for some time after the SegWit rally. and now it is awake and rising up again.
- the volume has been high all this time during the low price aka accumulation phase
- the price was stable and never dropped below support lines, any dip was followed by a big buy in hence increasing the volume even further.
- and finally the rise has started again.

so what do we expect of this rally? is it the 0.05BTC rise

it seems to me that litecoin finally got its turn for the rise, after all the other altcoins either stopped getting pumped or dropped hard in their dumping phase.

although there is one thing i don't get!
the buy orderbook seems very healthy and strong and the path to rise is all clear except for one whale putting up a huge 120BTC sell wall and he keeps moving it upwards as the price rises!
so it obviously is a fake sell wall but i don't get why
here is the picture:
edit: this was completely removed as the price rise became faster...
[i m g]https://i.imgur.com/WXLqDyT.jpg[/img]

Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
arbitrage
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June 19, 2017, 07:16:15 AM
 #2

Well whales like to suppress price while loading. This one probably didn't do this on time so now trying to buy some time. My predictions going even further but this won't happen overnight.  Also everything is under question mark, what will happen with BTC in the next period, and how this will influence LTC.
dfd1
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June 19, 2017, 07:21:11 AM
 #3

0.2BTC by the end of the year.
arpon11
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June 19, 2017, 07:23:08 AM
 #4

After this accumulated face I expect a very high pump as most big buying are dumping Ethereum for litecoin since on Friday last week. The volume of traders has significantly increase as shown https://coinmarketcap.com. I am see litecoin price at $100 before the end of this year.
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June 19, 2017, 07:56:14 AM
 #5

You are correct, the Volume of Litecoin is more than ETH today. Traders, Whales and speculators have been  change their attention now with LTC. But the Bitcoin Rally is still on the move even there is a hard fork coming, LTC will probably cannot reach 100$ mark by this year.


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Herbert2020 (OP)
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June 19, 2017, 07:57:55 AM
 #6

Well whales like to suppress price while loading. This one probably didn't do this on time so now trying to buy some time. My predictions going even further but this won't happen overnight.  Also everything is under question mark, what will happen with BTC in the next period, and how this will influence LTC.

i added an edit, the big wall was reached multiple times as price was rising and the buy support kept hitting it and eating through it fast so now it is completely removed. i don't see any walls like that anymore ever since the 0.018BTC was broken.

After this accumulated face I expect a very high pump as most big buying are dumping Ethereum for litecoin since on Friday last week. The volume of traders has significantly increase as shown https://coinmarketcap.com. I am see litecoin price at $100 before the end of this year.

well i can say this rally has a lot of steam to it which is causing a pretty nice rise. and i agree that it seems like some money is coming in from other markets. lets hope LTC sees the real price that it deserves.

Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
arbitrage
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June 19, 2017, 12:30:49 PM
 #7

Something will happen one of those top pumped coins will burst, and with LTC as predefined investment will flourish, we can expect small miracle..I will wait for such event. Only BTC can smash our dreams, or at lest can have major influence with this new apocalyptic scenario for august.
Herbert2020 (OP)
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June 20, 2017, 05:55:38 AM
 #8

Something will happen one of those top pumped coins will burst, and with LTC as predefined investment will flourish, we can expect small miracle..I will wait for such event. Only BTC can smash our dreams, or at lest can have major influence with this new apocalyptic scenario for august.

it is mostly money which is going from altcoin to altcoin. the wise money (or wise investors) invest in an altcoin while it is low priced and then pump it, as it grows others will join and on top the wise money exits the market to go to the next and those who came in late will stick around begging for a way to exit. this process can be fast in shitcoins and it is slow for better altcoins such as litecoin but it happens for all of them.

and for bitcoin i believe there is some glimmer of hope for the August thing since SegWit has gained >75% support which is more than 90% if you add SegWit2x and SegWit signalling.

Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
ridery99
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June 20, 2017, 06:40:06 AM
 #9

Something will happen one of those top pumped coins will burst, and with LTC as predefined investment will flourish, we can expect small miracle..I will wait for such event. Only BTC can smash our dreams, or at lest can have major influence with this new apocalyptic scenario for august.

it is mostly money which is going from altcoin to altcoin. the wise money (or wise investors) invest in an altcoin while it is low priced and then pump it, as it grows others will join and on top the wise money exits the market to go to the next and those who came in late will stick around begging for a way to exit. this process can be fast in shitcoins and it is slow for better altcoins such as litecoin but it happens for all of them.

and for bitcoin i believe there is some glimmer of hope for the August thing since SegWit has gained >75% support which is more than 90% if you add SegWit2x and SegWit signalling.

Quote
June 2017 may be remembered as the month that the true ‘flippening’ occurred, from bitcoin to litecoin, precipitated by a Prague-based group promoting and educating the public on crypto-anarchist philosophy.
The stakes are high for bitcoin, with a face-off between Bitmain, threatening a User-Activated Hard Fork, and those seeking to eliminate miner influence over SegWit adoption, the User-Activated Soft Fork crowd. The standoff threatens to split the network in two, with the UASF-styled ‘independence day’ slated for August 1. The inertia regarding progress in the scaling debate is also causing a cost for users in terms of higher fees for a bitcoin transaction.

The altcoin recently saw a large influx of volume, pushing above 50 percent of the cryptocurrency’s market capitalization and above trading volumes for bitcoin on June 17. At the time of writing, the past 24 hour volume for litecoin and bitcoin are similar, roughly $1.2 billion. The lion’s share of volume is coming from two Chinese exchanges, Huobi and OKCoin, accounting for over 40 percent of the volume over the past 24 hours.

On top of investor and exchange adoption, litecoin is also seeing interest from a cypherpunk grassroots movement and a major hardware wallet provider, Trezor. Paralelní Polis, which hosts the Institute of Cryptoanarchy and the Hackers Congress every year, as well as Bitcoin Coffee, is probably the most significant actor in this true ‘flippening’; maybe we should forget ether and come to terms with litecoin becoming the cryptocurrency that may stand dominant above bitcoin?
In a blog post explaining the switch over from bitcoin to litecoin, the coffee house started with one clear rule; no fiat currencies. They started with the goal in mind to show people that cryptocurrencies are easy and that they are the future. But, they argue, bitcoin transactions are now too similar to traditional banks in terms of fees. The rising fees have forced their hand into deriving their own solution for regular customers:

“We even had to develop our own application for members and regular customers, which would buy credits for bitcoins and then spend those credits to avoid bitcoin fees.”

Resonating with many other voices in the community, they also explain that the risk that UASF bears is perhaps too high, as a chain split would be unavoidable if the support for UASF is low; they state, “it is unacceptable for any business running on bitcoin.”

https://btcmanager.com/litecoin-supplanting-bitcoin-as-the-cypherpunk-cryptocurrency/
ridery99
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June 21, 2017, 11:22:05 AM
 #10

According to the following chart, ETH did 226,786 transactions in the last 24 hours. That is lower than bitcoin's 276,636

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

It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.

You nailed it.



Litecoin seems to be the only option.
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June 21, 2017, 01:39:41 PM
 #11

I hope Litecoin continues on this positive path and i hope Litecoin gets a few more devs + charlie is back on board. The world is ready for cryptos now and LTC might just be able to handle the surge on behalf of the entire crypto community (even if its for the time being until BTC can scale too). LTC + BTC  = Mass Adoption. 
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