Litecoin TANKING...opinions on future outlook both nearterm and long term?

[kelsey]

obviously trading vol been too low of late so someones taken the advantage to play the market 

too many people saying they'd top up on ltc if it falls below $5 to have it not bounce imo.

That is what they say. The orderbooks say otherwise. Doesn't look too good atm!

funny thats exactly how I arrived at my conclusion   

Yeah, but nothing can be done really, if it starts to seriously tank, then the measly orders that you and me could put on are dust in the wind!

well speak for yourself (i'm already one of the largest ltc holders and have been for quiet sometime).

you do know alot of the big buys and sells on ltc (and btc) aren't done via the exchanges most here frequent? so if there is a big sell/buy on the exchanges its for a reason

Sure. But if those big Buy/sells take the exchange rate as an indicator, then it is still incredible important. The orderbooks are slim and that is an indicator that the demand for that coins is not so healthy anymore. There are always people pushing their agenda by manipulating, but to say everythin is due to that is pretty risky

Put it this way I saw the average 24hr vol traded of ltc stay pretty low of late, and was tempted myself to dump on the open market with the sole purpose of increasing my holdings someones just hit that button and done it for us

no complaints here, just sayin it is what it is.....

[Hfleer]

obviously trading vol been too low of late so someones taken the advantage to play the market 

too many people saying they'd top up on ltc if it falls below $5 to have it not bounce imo.

That is what they say. The orderbooks say otherwise. Doesn't look too good atm!

funny thats exactly how I arrived at my conclusion   

Yeah, but nothing can be done really, if it starts to seriously tank, then the measly orders that you and me could put on are dust in the wind!

well speak for yourself (i'm already one of the largest ltc holders and have been for quiet sometime).

you do know alot of the big buys and sells on ltc (and btc) aren't done via the exchanges most here frequent? so if there is a big sell/buy on the exchanges its for a reason

Sure. But if those big Buy/sells take the exchange rate as an indicator, then it is still incredible important. The orderbooks are slim and that is an indicator that the demand for that coins is not so healthy anymore. There are always people pushing their agenda by manipulating, but to say everythin is due to that is pretty risky

Put it this way I saw the average 24hr vol traded of ltc stay pretty low of late, and was tempted myself to dump on the open market with the sole purpose of increasing my holdings someones just hit that button and done it for us

no complaints here, just sayin it is what it is.....

Ok, but what I am trying to say is, that even if it was one guy manipulating, the people selling now are not the manipulator but people that lost the hope and further decrease the price. Hardly the result that the dumper wanted

[IXC2XIC]

Put it this way I saw the average 24hr vol traded of ltc stay pretty low of late, and was tempted myself to dump on the open market with the sole purpose of increasing my holdings someones just hit that button and done it for us

no complaints here, just sayin it is what it is.....

I think Kelsey knows what she's talking about.  Especially when it comes to Public Bitcoin ETFs.  

[digitalindustry]

Wow, I haven't really kept up with the BTC/LTC market in awhile, but checking the charts today pretty much shocked me.  Last I remembered it was surging up towards the 12 dollar market and all signs were pointing to bullish.  The 365 day chart does not look good...at all.

Is there some particular news that is triggering this massive downward slope?  And are any of you guys getting in now, or do you feel we might see another return close to 4 dollars like we saw late last year? I'm soooo tempted...but man, I've already been burned so many times in this altcoin game.

365 days ago price was $2...today it is $5....lol...

just use that answer for me;  to all the Quark trolls.

LTC may see $1 before the KNC guys have ROI and then the KNC customers.

after that - LTC competes in a real free market and we will see what happens then , because it will be unable to be effectively price manipulated. 

in other words the "mining controllers" have lost control, they now have the option to plow their on capital into it to move "psychology" but that doesn't work in the real world.

more market = market price.

i'll be amused when all the IPO scams pass LTC on Cap and start squealing success, i'll enjoy watching that.

[smoothie]

365 days ago price was $2...today it is $5....lol...

hi smoothie,

still thinking Litecoin won't hit 0.009 before end of the year?

Perhaps you should get your facts straight. I said it wouldn't hold under 0.008 BTC for a full week before year-end after you claimed it would go below 0.008 by year end.

Remember the bet you declined? lol

Next time it would be good if you got the facts straight. Thanks  

Here you go in case you have alzheimer's : https://bitcointalk.org/index.php?topic=672196.msg7616443#msg7616443  

[virtfund]

I really don't see how what Litecoin brings to the table that can not better be offered by another coin at this point. Maybe it will recover some, but what makes it a worthwhile long term investment?

[Mjbmonetarymetals]

Constantly bashing litecoin calling it dead when it's in 2nd position might be great for those who are promoting other coins but it's not going to bring any new money into crypto, ie. if crypto enthusiasts think litcoin is crap joe average isn't going to think hmmmm I'll buy into number 62 then or 5 or 15. Really if the second CryptoCurrency is so bad they are hardly going to flock to no.1 either.

When greedy cryptoslugs stop destroying the cryptocurrency sector from within with negative propaganda and scammy new coins the resulting image change might bring new money in, and it is new money that's needed not the stealing of market share from one coin to another

[wenben]

Litecoin dropped 25% in one day. A crash of this magnitude rarely last just 1 day.

Tomorrow price action should be interesting also.

[Newbie1022]

Constantly bashing litecoin calling it dead when it's in 2nd position might be great for those who are promoting other coins but it's not going to bring any new money into crypto, ie. if crypto enthusiasts think litcoin is crap joe average isn't going to think hmmmm I'll buy into number 62 then or 5 or 15. Really if the second CryptoCurrency is so bad they are hardly going to flock to no.1 either.

When greedy cryptoslugs stop destroying the cryptocurrency sector from within with negative propaganda and scammy new coins the resulting image change might bring new money in, and it is new money that's needed not the stealing of market share from one coin to another

This. The scam coins are not expanding market share, but rather eat into existing market share. In fact, for some like Ethereum, that is the entire point. The idea of selling a fixed amount of ether for Bitcoins is explicitly not about expanding market share, but rather eating into Bitcoin's market share and going head to head with it (and bringing down its price because they are going to have to dump those coins eventually for costs). Those coins are about screwing up the cryptocurrency infrastructure for personal gain. They tend to be inflationary, they lack market share, they aren't much faster, some are centralized or pseudo-centralized, they tend to have goofy names, etc... they don't add anything of utility to the average guy).

By contrast, you have Litecoin that explicitly never tried to compete against Bitcoin, but rather wanted to serve as a compliment -- silver to Bitcoin's gold -- offering diversity. Furthermore, it had some qualities, even if slight, that were different than Bitcoin (noticeably, it is faster which makes it a good candidate for certain consumer transactions... something that basically the infrastructure has had to build around for with Bitcoin).

It may very well die, but the dilution from the scam coins has gotten stupid and I think it's price is way overly deflated because it is being cut away at by a gaggle of really s---ty coins.  

[kimosan]

LTC will be fine. All coins are in the shitter right now, more or less.

[Newbie1022]

Litecoin dropped 25% in one day. A crash of this magnitude rarely last just 1 day.

Tomorrow price action should be interesting also.

It should get a bounce tomorrow or the day after. You're right that a price drop this significant usually scares people and has reverberations to later days. That said, the alternative perspective is the fact that a lot of the altcoins shed substantial blood, today. Moreover, this happened for more or less no reason outside of FUD and Ethereum sucking at life. Finally, for the first time Litecoin broke the penny... it is trading for less than 1/100 of a Bitcoin... the ratio is just too far out of whack. I expect a bounce back to the $7 range by week's end. $6.25 would be the negative scenario.

[Equate]

LTC will be fine. All coins are in the shitter right now, more or less.

Price rise won't happen unless difficulty rises to certain level, when it won't be profitable for Asic miners to dump. LTC is getting dumped by Asic

[Newbie1022]

LTC will be fine. All coins are in the shitter right now, more or less.

Price rise won't happen unless difficulty rises to certain level, when it won't be profitable for Asic miners to dump. LTC is getting dumped by Asic

This is potentially an explanation for a broader trend. I don't think it explains 25% in one day... what, they all picked the very same day to start dumping? nuh uh.

[Newbie1022]

You know what this is... it is the God damned feminist movement. People wonder why women failed where the civil rights movement succeeded... easy... there was one (maybe two) variants in the civil rights movement whereas there are about a thousand different types of feminism. These damned monorail crapcoin sellers are all feminists and they don't even know it.

[smoothie]

You know what this is... it is the God damned feminist movement. People wonder why women failed where the civil rights movement succeeded... easy... there was one (maybe two) variants in the civil rights movement whereas there are about a thousand different types of feminism. These damned monorail crapcoin sellers are all feminists and they don't even know it.

You know what it is?... it is aliens  

[johnnyrocket]

I'm bearish on Litecoin generally, but the serious recent drops are surprising even to me.

[Hfleer]

Nearly 300k BTC marketcap broken.

[devphp]

365 days ago price was $2...today it is $5....lol...

hi smoothie,

still thinking Litecoin won't hit 0.009 before end of the year?

Perhaps you should get your facts straight. I said it wouldn't hold under 0.008 BTC for a full week before year-end after you claimed it would go below 0.008 by year end.

Remember the bet you declined? lol

Next time it would be good if you got the facts straight. Thanks 

Here you go in case you have alzheimer's : https://bitcointalk.org/index.php?topic=672196.msg7616443#msg7616443 

ah, whatever, it'll hold below 0.008 for a week and then go to 0.005   0.008 or 0.009, doesn't make much difference, if it's destined to go much lower.

[toknormal]

sooner or later an alt crash will drive most to ltc as the reserve

In your wildest dreams.

The only reserve in this business is BTC. A reserve currency means that other currencies are "priced" in the reserve. Litecoin had a brief period where that happened on a couple of exchanges but it never took hold. It´s rapidly becoming ´just another alt´. Now that the 0.01 resistance is broken, don´t expect it to ever return.

We´re into the next phase of cryptos.

[digitalindustry]

Constantly bashing litecoin calling it dead when it's in 2nd position might be great for those who are promoting other coins but it's not going to bring any new money into crypto, ie. if crypto enthusiasts think litcoin is crap joe average isn't going to think hmmmm I'll buy into number 62 then or 5 or 15. Really if the second CryptoCurrency is so bad they are hardly going to flock to no.1 either.

When greedy cryptoslugs stop destroying the cryptocurrency sector from within with negative propaganda and scammy new coins the resulting image change might bring new money in, and it is new money that's needed not the stealing of market share from one coin to another

it always has been and always will be about education - Quark has grown a core of supporters that are educating themselves we are barely 1 year old (6 months of which doesn't count as its was active primary distribution) ,so we we will see in 6 to 12 months.