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

[flipstyle]

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.

[rikkejohn]

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.

I'm in LTC, and don't judge it on its $48 high, which was a pump on the back of the Karpeles BTC pump.

In my mind, LTC was a $2-4 coin, so this price is high. I can see it dropping lower, but I expect it to reverse its decline against BTC.

So if you're a BTC holder, and not selling for cash, LTC looks like a good bet, even if it does still have some more little dumps.

[flipstyle]

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.

I'm in LTC, and don't judge it on its $48 high, which was a pump on the back of the Karpeles BTC pump.

In my mind, LTC was a $2-4 coin, so this price is high. I can see it dropping lower, but I expect it to reverse its decline against BTC.

So if you're a BTC holder, and not selling for cash, LTC looks like a good bet, even if it does still have some more little dumps.

Appreciate your analysis...I'm pretty much right there with your sentiments.  If it drops to down below the sub 5 dollar mark, I think I might just dip right back in and hold for a bit.

[rokkyroad]

Ltc really looks shitty today. No doubt.
So do many others. Even btc is falling.

Money is and has been leaving the cryptocurrency scene.  People are depressed, giving up, and accepting loss. Where it will end is anyone's guess.

[Lauda]

Ltc really looks shitty today. No doubt.
So do many others. Even btc is falling.

Money is and has been leaving the cryptocurrency scene.  People are depressed, giving up, and accepting loss. Where it will end is anyone's guess.

What did you expect actually? On a holiday month for the next BTC rise?
This is normal. The day is very bad for most coins indeed.

[rokkyroad]

What did you expect actually?[/quote]

I'm looking for a high bridge to jump off.

[T-800]

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.

I haven't seen any particular news that triggered today's dump. So either some people have inside info that they're selling on, or this price doesn't make sense at all, and you should buy.

I definitely believe in a new rally for BTC, that'll also launch LTC to the moon. Therefore, if LTC goes below $5 I'm in.

[AmDD]

I planned on starting to move things around at the $6 mark and will start buying around $5 or so, looking to increase my holdings.

The price drop seems to be a lot of ASIC owners dumping coin daily looking for a ROI on expensive ass ASICs.

[TaunSew]

Most alternates are doing poorly atm, everyone is dumping to get into Ethereum and/or Stellar.

[s1gs3gv]

nice LTC dump to 4.85 atm

[FandangledGizmo]

Most alternates are doing poorly atm, everyone is dumping to get into Ethereum and/or Stellar.

Stellar lol, dropped 15% today, def no LTC money flowing in there

Stellar seems to have already lost steam in the pump, they've really crushed their airdrop but there's still a good chance the stellar pumpers are actually the ones who might get dumped on first here. Makes a nice change.

[kelsey]

I'm a ltc bagholder (my biggest holding), alts have flooded the market but sooner or later an alt crash will drive most to ltc as the reserve. As I don't trade fiat I'm personally indifferent to its price v USD, for me though hopefully most my other bags improve Vs ltc so I can increase my ltc holdings.
For the increase my fiat types I think ltc below $5 has greater profit potential then btc, though a sudden btc rise would lower ltc further, such a btc rally would sooner or later drag ltc up.

[Benjig]

Litecoin is dropping because in reality it offers nothing new, less block time is its only "feature".. any alt coin outhere with another thing is better than litecoin and people realized that now.

[smoothie]

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...

[kelsey]

Litecoin is dropping because in reality it offers nothing new, less block time is its only "feature".. any alt coin outhere with another thing is better than litecoin and people realized that now.

lol not an alt since ltc has any new usable (in the real world) features. only features in the new coins are to sell the new coin to the gullible. ltc itself has advantages over btc for the general pop for use and investment purpose for one the creator isnt a mystery.

[SunBin]

Litecoin is dropping because in reality it offers nothing new, less block time is its only "feature".. any alt coin outhere with another thing is better than litecoin and people realized that now.

lol not an alt since ltc has any new usable (in the real world) features. only features in the new coins are to sell the new coin to the gullible. ltc itself has advantages over btc for the general pop for use and investment purpose for one the creator isnt a mystery.

Litecoin was promised to be ASIC resistance and have the support of GPU miners before ASIC took over. Now that it is ASIC mineable, only the die hard fan will continue supporting the coin.

[Skoupi]

Maybe it has something to do with a warning issued by a consumer bureau or something...

[thefunkybits]

Litecoin getting slammed again.

and this is just the beginning...I wasn't planning on buying until BTC hit at least $1000 again

[kelsey]

Litecoin is dropping because in reality it offers nothing new, less block time is its only "feature".. any alt coin outhere with another thing is better than litecoin and people realized that now.

lol not an alt since ltc has any new usable (in the real world) features. only features in the new coins are to sell the new coin to the gullible. ltc itself has advantages over btc for the general pop for use and investment purpose for one the creator isnt a mystery.

Litecoin was promised to be ASIC resistance and have the support of GPU miners before ASIC took over. Now that it is ASIC mineable, only the die hard fan will continue supporting the coin.

why the same fud over and over lol do some research ltc never promised to be asic resistant, no thought was even given to asic at the time of ltc's creation.

[FandangledGizmo]

The product not currency coins are more stable, so MaidSafe holding well.
I'm a BitShares fan, but BitShares PTS is up & will probably be up nearly everyday till the 21st.

(There is a .bit killer being snapshotted off it on 21st August.)