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January 22, 2014, 02:09:53 PM |
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im guessing OP is fairly new to the crypto world! - if you think this is a crash you should look back over the last few months and see the highs and lows - Imo LTC is trading in its normal price range.
In crypto a minute is a year compared to regular stocks/shares markets - yesterday Doge coin was having lovely swings of 20-30% every other hour even today the swings are 15 odd%, Its not uncommon to see coins drop one minute only to skyrocket to new highs the next. (I have miss out on serious profits because i have been weak willed and bailed out of several coins at completely the wrong moment.)
Just for referrence i have 61 Litecoins on BTC-Es meta trader platform bought at their recent peak of $29.26 each at the current price im down $426 , but im sure in a few weeks something great will happen - i.e Bitcoin will get some news and the price will jump to $1500 and it will drag litecoin up with it. or there might be some direct news about litecoin (*cough* MtGox - Midas *cough* if they ever achieve it *cough*) and again the price will lurch back north.
at the end of the day If i need to sit on the litecoins for a year just to recoup the $400 thats all cool (look at how long bitcoin was trading at under $1 before its explosion)
the biggest trading mistake i have made in the crypto world is trying to daily trade! it just loses me money >.<
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