Charlie Lee says Litecoin correction coming

[Sikka157]

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

[honestum]

It says something very positive about Lee to make that statement. If you respect creator honesty hold on to it.

That said its about to plateau or correct so sell for profit and re-buy in

[nhote]

Charlie Lee is a real gent.
that said, i've liquidated about 60% of my LTC position and aiming to re-buy in, probably between 100-150USD or 900-1200k sats... great day, though!!

[jimbo2000]

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

[CryptoRage]

I like litecoin but this is crazy.  Is this a push from asian investors?  I can't figure this one out

[CrowdFunder]

Well he would be full of crap if he said litecoin was gonna moon after already pumping, it's just common sense. I think he is a nice guy but I still don't see much in store for litecoin long term vs other alts.

[Sikka157]

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

Yeah I am planning to buy to if it reaches $150. I dont think he is shorting his own currency. He is probably trying to slow down the hype and wants an steady climb. If LTC kept going the way it was until now, a crash in the price and reputation would be most likely.

[NeuroticFish]

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

Maybe he's trying to stay honest. Anybody looking to those graphs could tell that a correction has to come. Of course, we'll not know in time how big is it going to be.
The growth was too big, too fast.

[nhote]

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

Yeah I am planning to buy to if it reaches $150. I dont think he is shorting his own currency. He is probably trying to slow down the hype and wants an steady climb. If LTC kept going the way it was until now, a crash in the price and reputation would be most likely.

yes i really think you nailed it... coins that rise too fast and on excess hype have a hard time getting back on track... see what happened to Digibyte! it looked like it was going to be the real thing back in spring, it's tumbled and basically vanished since. even Neo is still suffering from too much hype around rebranding. so i agree with you: i also think Charlie Lee is just trying to protect its product.

[nhote]

I think he is a nice guy but I still don't see much in store for litecoin long term vs other alts.

i strongly disagree. given progresses on LN and atomic swaps, i think LTC is positioning itself to be the ideal and practical complement to BTC. was that to happen, 3rd or even 2nd rank in total marketcap would become a concrete possibility

[jimbo2000]

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

Yeah I am planning to buy to if it reaches $150. I dont think he is shorting his own currency. He is probably trying to slow down the hype and wants an steady climb. If LTC kept going the way it was until now, a crash in the price and reputation would be most likely.

yes i really think you nailed it... coins that rise too fast and on excess hype have a hard time getting back on track... see what happened to Digibyte! it looked like it was going to be the real thing back in spring, it's tumbled and basically vanished since. even Neo is still suffering from too much hype around rebranding. so i agree with you: i also think Charlie Lee is just trying to protect its product.

It was more sarcasm than actual expectation, I'm sure he fully believes in his coin and you're probably right that he is just tempering expectations, I think perhaps a little over the top though, I guess prepare people for the worst but to suggest a 90% fall in price is pretty crazy. I'm guessing he doesn't have much faith on crypto not being in a big bubble right now!

[nhote]

well, i personally believe that correction will be milder and shorter this time, but a 90% fall wouldn't be unheard of - that's basically what happened every time BTC went on a similar rally as this year!!

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

Yeah I am planning to buy to if it reaches $150. I dont think he is shorting his own currency. He is probably trying to slow down the hype and wants an steady climb. If LTC kept going the way it was until now, a crash in the price and reputation would be most likely.

yes i really think you nailed it... coins that rise too fast and on excess hype have a hard time getting back on track... see what happened to Digibyte! it looked like it was going to be the real thing back in spring, it's tumbled and basically vanished since. even Neo is still suffering from too much hype around rebranding. so i agree with you: i also think Charlie Lee is just trying to protect its product.

It was more sarcasm than actual expectation, I'm sure he fully believes in his coin and you're probably right that he is just tempering expectations, I think perhaps a little over the top though, I guess prepare people for the worst but to suggest a 90% fall in price is pretty crazy. I'm guessing he doesn't have much faith on crypto not being in a big bubble right now!

[jimbo2000]

well, i personally believe that correction will be milder and shorter this time, but a 90% fall wouldn't be unheard of - that's basically what happened every time BTC went on a similar rally as this year!!

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

So strange for him to come out and say that, perhaps he is shorting his own currency?  I think a correction is a given but to such low levels I don't think so. Maybe to around $150.

Yeah I am planning to buy to if it reaches $150. I dont think he is shorting his own currency. He is probably trying to slow down the hype and wants an steady climb. If LTC kept going the way it was until now, a crash in the price and reputation would be most likely.

yes i really think you nailed it... coins that rise too fast and on excess hype have a hard time getting back on track... see what happened to Digibyte! it looked like it was going to be the real thing back in spring, it's tumbled and basically vanished since. even Neo is still suffering from too much hype around rebranding. so i agree with you: i also think Charlie Lee is just trying to protect its product.

It was more sarcasm than actual expectation, I'm sure he fully believes in his coin and you're probably right that he is just tempering expectations, I think perhaps a little over the top though, I guess prepare people for the worst but to suggest a 90% fall in price is pretty crazy. I'm guessing he doesn't have much faith on crypto not being in a big bubble right now!

A 90% fall would be far bigger than any individual rally, it would take us down to around $2000 which would be almost all of the years growth gone. Any percentage fall is always bigger than a % gain as the number you're working with to calculate the percentage is higher.

[Volant]

Such an odd thing to say lmao. But maybe some truth to it, great time to cash out and rebuy later.

[onetwostep]

Where is this tweet?
I looked at charlie lee's twitter and did not see such a tweet! ( https://twitter.com/SatoshiLite )
I think it is a news for speculation

[jimbo2000]

Where is this tweet?
I looked at charlie lee's twitter and did not see such a tweet! ( https://twitter.com/SatoshiLite )
I think it is a news for speculation

You can find it here, you just had to scroll down a little bit further! ( https://twitter.com/SatoshiLite/status/940353265585160192. ) Hopefully I don't get in to trouble for this, I don't know the rules around posting links!

[godzillarekt007]

Smart man I would heed his advice especially when it comes to LTC. However it shouldn't come as a surprise to anybody following the markets that LTC will correct. That other aspect though about the bear market that concerns me and that would suck if that happens but we will make it out nonetheless.

[babygun]

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

He could be right, litecoin is having a massive pump these last days (value was at peak around 350 $) without a real occasion.
I will hold my litecoin though and buy more when the crash comes!

[jerry0]

Can someone explain how did litecoin get up so high? 

[BMG86]

Can someone explain how did litecoin get up so high? 

Hundreds of thousands of new people have signed up on coinbase and are investing money into btc, ltc, and eth. Hence why the price is mainly pumped up for these 3 over the past few days.