The ONLY reason Litecoin dipped

[thejaytiesto]

Was the strange DDOS attack of last night in Poloniex. We say something really strange last night, anyone that was trading Poloniex this. Some coin I know nothing about and I assume some shitcoin, Stellar Lumens, went up 150%, then the entire site went down, and it crashed.

Everyone panic sold their coins. We saw LTC hit 0.0169, it quickly recovered to 0.0185, now it's at 0.0177

There are no fundamental reasons for LTC to dip, this has happened due the Poloniex DDOS.

Once idiots realize this fact, they will FOMO back to LTC and we'll sit at 0.02

ETH also got panic sold hard.

Literally NOTHING is justifying this dip other than the inertia of the panic selling caused by a god damn DDOS on Poloniex.

[ownageplocks]

Are you sure that Poloniex is large enough to affect entire currencies like this? My speculation is that Poloniex isn't large enough to have that drastic of an effect on the valuation of a coin. If one DOS attack can cause this much havoc what happens if it drops for a day. This just speaks for how volatile of a market altcoins are in my opinion.

[alyssa85]

ETH dropped because someone did a very large sell on Kraken.

As for litecoin - I would say normal profit taking, it's had a nice run up, and people tend to cash out after that.

[ratatatat]

If you don't take profit someone else will 

[NoiseBoy]

Kraken (which also lists Lumens--not sure if there's a connection there) also was on the receiving end of a DDOS. To add further complication, withdrawals & deposits aren't working for some customers (me) on Kraken.

https://status.kraken.com/

[johnwest]

ETH dropped because someone did a very large sell on Kraken.

As for litecoin - I would say normal profit taking, it's had a nice run up, and people tend to cash out after that.

Probably. The kraken sell became a sensational news in a few hours and LTC's run to the sky may have been stopped now and some people will be happy with their profit and will cash out so I guess it will lower a little and then get stable.

[Ayers]

Was the strange DDOS attack of last night in Poloniex. We say something really strange last night, anyone that was trading Poloniex this. Some coin I know nothing about and I assume some shitcoin, Stellar Lumens, went up 150%, then the entire site went down, and it crashed.

Everyone panic sold their coins. We saw LTC hit 0.0169, it quickly recovered to 0.0185, now it's at 0.0177

There are no fundamental reasons for LTC to dip, this has happened due the Poloniex DDOS.

Once idiots realize this fact, they will FOMO back to LTC and we'll sit at 0.02

ETH also got panic sold hard.

Literally NOTHING is justifying this dip other than the inertia of the panic selling caused by a god damn DDOS on Poloniex.

are you serious man? that is not even 10% dump, that is not a dump a dump by definition is a very large sell to decrease the value by a very big point percentage, not 5% lol, that is just price correction, or bot manipulation on poloniex, poloniex is notorious for many bot spamming their market ad making fake walls, to make you think there are dump or pump nothing new move on