Litecoin just hit $2,21

[BitcoiNaked]

panic sell all your litecoins for Quarks and NXT !!

Only dumb people would do that.

Smart people wait till it hits 0.008

I think this time it will be different, last time max keiser pumped it with his $50 tweet

[darkota]

I don't mean to derail the litecoin bashing, but can someone explain the chart in the op? How does the market drop that low and then recover nearly instantly? I've never had a very strong understanding of trading. Thanks

Someone saw a buying opportunity and bought it all up.

It was well played IMO- they could slowly sell it off not affecting the market too badly and pretty much have an instant profit. I'm not sure this is their strategy as they could be hodling for a rebound, but someone(s) saw a buying opportunity for one of those two reasons. I think it's anyone's guess as to what the reason was.

Whomever sold off that much at once on one exchange didn't really think it through very well.

This^, They probably caused a Minor panic buy and tripled their money, then sold again cause Litecoin dropped A Lot more now.

Congrats to that smart whale who bought, and sold just as quickly.

[irlandescoin]

someone know litecoin official thread?

[chrissibel]

man i remember when LTC was $45. ahh the good ol' days.

[Swordsoffreedom]

man i remember when LTC was $45. ahh the good ol' days.

I wish I bought litecoin at this price and then sold it at 45 dollars
But that was back during the Bitcoin rally as well I feel bad for the people who bought at that price and yep that definitely is life.

[superresistant]

 
I don't understand why Litecoin holders let Litecoin die.
They didn't change the algo when it was time.
Litecoin is the most useless of all atlcoins because all altcoin are based on Litecoin but most of altcoin try hard to innovate.
It is an ultra competitive market, they had the first mover advantage and the funds but they didn't add any feature since Litecoin launched.
How can you be so spoiled and lazy ?
Now they lost over 90% of their investment. Good job.

[digitalindustry]

Some people still hold Litecoin despite all the warnings over 6 months ?
I guess some people just want to lose money.

if someone holds ltc for 6 months, he should'nt sell it now... he should have done 6 months ago and buy new ones now or better next week

I sold my last Litecoin about 6 months ago like every sane person.

You can still do it now and invest in new innovative cryptocurrencies.

hows that innovation meme working out for ya?

[superresistant]

hows that innovation meme working out for ya?

Great thanks, and you ? How's innovation ?

[Winner]

someone know litecoin official thread?

https://bitcointalk.org/index.php?topic=47417.0

[lordoliver]

I don't understand why Litecoin holders let Litecoin die.
They didn't change the algo when it was time.
Litecoin is the most useless of all atlcoins because all altcoin are based on Litecoin but most of altcoin try hard to innovate.
It is an ultra competitive market, they had the first mover advantage and the funds but they didn't add any feature since Litecoin launched.
How can you be so spoiled and lazy ?
Now they lost over 90% of their investment. Good job.

it was just the time for it. Now will be the time for raising. just look on it last year. it was the same...
Litecoin will come back... at least this time.

[CoinHoarder]

I don't understand why Litecoin holders let Litecoin die.
They didn't change the algo when it was time.
Litecoin is the most useless of all atlcoins because all altcoin are based on Litecoin but most of altcoin try hard to innovate.
It is an ultra competitive market, they had the first mover advantage and the funds but they didn't add any feature since Litecoin launched.
How can you be so spoiled and lazy ?
Now they lost over 90% of their investment. Good job.

it was just the time for it. Now will be the time for raising. just look on it last year. it was the same...
Litecoin will come back... at least this time.

I disagree. The dynamics are different this time around, as there didn't use to be any decent alternatives to Litecoin.. there was only clones of Litecoin that changed block speed or currency supply for the most part, most of these clones died because of the lack of innovation. There are many cryptocurrencies that have much faster block times, which is basically the only thing that was good about Litecoin. The main problem I see is that there are many cryptocurrencies with new and/or improved features as compared to Litecoin. There is not much of a reason to speculate in Litecoin other than thinking it is "too big to fail", but I think this line of thinking is flawed. Litecoin got popular as it was a safe haven for GPU miners that got kicked off the Bitcoin chain by ASICs. Now GPUs have also been kicked off of the Litecoin chain that appeal is lost.

There are many large companies that fail due to not being able to understand their original formula is not working and not adapting their game plan to compete against more innovative competition. Take Sears for example.. They failed to see the way malls and retailers were losing business to online commerce and failed to adapt quick enough. They were once a giant that got started as a mail order catalog and failed to adapt their one time successful strategy to compete with other companies.

There are some companies that never change their product or business strategy and remain wildly successful, but these companies generally either have a proprietary formula or recipe, or have a patent. With Litecoin being open source, it doesn't have either of those benefits going for it.

[lg1500]

yes and now hit again, but we will not see instant recovery to 8 usd

[BitcoiNaked]

lol this time it has parked the bus around 2.21 buying at 0.22