Litecoin is below 5 USD ,what should I do

[lynn_402]

It’s been a while since the dropping, people were talking in this forum ,about the price,  the asic and the future. I am a regular miner who have faith in crypto but can’t afford to lose everything I got just by my faith. There are so many topics about litecoin is dead or it’s not. What I really want to know are :
Litecoin is Now Below 5 USD ,what should I do?I got coins,not only LTC,Doge,even a small amount of Mona, should I sell them all or should I get more?
Asic factories are selling asic machines at a very low price now,is this a good opportunity to get some asics?

Please try not to spread FUD or giving hope for no reason.Thx.

Rule of investment.
Never invest more than you can afford to lose.

And most people here will give you advice based on what coins they hold in their wallets.
I wound't trust more than 1% of them to give you an unbiased answer on this.

Surely if they hold a coin, it's because they have done their research and believe that the coin has good long-term potential? Just because someone holds a coin, doesn't mean that they can't give rational reasons for it.

Well of course, there are bagholders of failed scam-coins, but they are easy to spot.

[niothor]

It’s been a while since the dropping, people were talking in this forum ,about the price,  the asic and the future. I am a regular miner who have faith in crypto but can’t afford to lose everything I got just by my faith. There are so many topics about litecoin is dead or it’s not. What I really want to know are :
Litecoin is Now Below 5 USD ,what should I do?I got coins,not only LTC,Doge,even a small amount of Mona, should I sell them all or should I get more?
Asic factories are selling asic machines at a very low price now,is this a good opportunity to get some asics?

Please try not to spread FUD or giving hope for no reason.Thx.

Rule of investment.
Never invest more than you can afford to lose.

And most people here will give you advice based on what coins they hold in their wallets.
I wound't trust more than 1% of them to give you an unbiased answer on this.

Surely if they hold a coin, it's because they have done their research and believe that the coin has good long-term potential? Just because someone holds a coin, doesn't mean that they can't give rational reasons for it.

Well of course, there are bagholders of failed scam-coins, but they are easy to spot.

Common , 90% of coin holders don't have a clue what they hold.
Look at all those  failed ipos.
Look at all the dead coins.
Remember the nation coins hype ? How many where so sure of their future and what happened to them.

Unfortunately no. The last wave of "investors" that came to the cryptos scene is made by a lot of blinded by greed people who dream of being the next satoshi.

[fran2k]

Don't entry in a bear market. In other words, don't buy while there is a downtrend.

LTC is not death, is by far the second market cap. Which is by far, too much. It should back under 1usd in my own opinion. It has nothing to offer, while there are real altcoins like Ethereum, Bitshares, and others.

You should make a cut loss and sell a fraction I think.

[rokkyroad]

How many ltc do you have? What did you pay for them? How much did it cost to mine them?

Going to be a lot of hurt involved if you have many.

[rikkejohn]

depends how you view things.

It could be that in the post-Karpeles era, BTC and LTC are going to go back to where they were before he started his little games.

So selling either now could be a good idea.

Alternatively, we are at a low for both coins, and selling now would be a mistake.

You've got to work it out for yourself.

My opinion is undecided on price against US dollars. I think BTC might go all the way, or maybe not.

BTC versus LTC, however, and I expect the same game that has been played over the last 18 months.

The next big episode is BTC sinking, LTC rising.

Within a couple of months begins a slow decline for LTC again.

Crypto is new, unregulated and people are fickle.

[ArticMine]

My thought on this is to take a look at the long term performance of alt-coins with respect to XBT. So I will include the following quote:

The pattern for those alt-coins that have been around for a while is a sharp spike upwards in price when compared to BTC during a BTC boom. Here are some examples:

Litecoin: LTC/BTC http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ltc-btc&market=btc-e
Namecoin: NMC/BTC http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=nmc-btc&market=btc-e
Peercoin: PPC/BTC http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ppc-btc&market=btc-e

Dogecoin DOGE/BTC is really interesting here since it was launched right in the middle of a BTC boom. http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=doge-btc&market=cryptsy It is hard to see on the chart but this is a brutal bear market since its inception. The moral here is do not launch your alt in the middle of a BTC boom because in a few months it will look really awful.

I would go as far as to say that skyrocketing alt-coin prices in terms of BTC can be an indicator of a BTC/USD top. The trick is finding the right alt-coin since the vast majority are totally worthless and only very few have a chance of doing anything, but there can be a play here.

Thank you for your data mining. That pattern jibes with what I've seen in the gold part of the stock market: when gold's well down the bull track, the major producers go up, the juniors go up a lot, and the few exploration-level penny stocks that capture the punters' excitement explode.

Same on the downside, too. '11-'12 saw the majors getting whacked, the juniors getting whomped, and all-out carnage in the exploration-penny subsector.

I'm not kidding about the last. The pennies were hit so hard, the Venture Stock Exchange had to officially suspend a rule that prohibits secondary offerings by its listees whose stock price is below five cents. Yes, five cents.

Had the Venture board not done so, a lot of viable exploration micros would have had to hire bankruptcy lawyers. I'm quite serious about this.   

Past performance is no guarantee of future results. There are two possible indications here:
1) Hold onto LTC until the next XBT/USD boom and then sell. There is a good chance one can get a better price in terms of USD and XBT at that time.
2) Trade LTC for another alt-coin if one believes the other alt-coin will out perform LTC. I personally like XMR (Monero) here. The advantage of 2) is that in some jurisdictions one can take the tax loss.

Selling LTC for XBT or fiat at this time seems to me just selling low at what can easily be the bottom of the market.

[thefunkybits]

If you've bought LTC at $20+ I would panic HODL

s-crypt ASICs will be coming online verrry soon - http://www.coindesk.com/kncminer-final-phase-titan-asic-chip/

Personally, im buying back my LTC at these levels

[rikkejohn]

If you've bought LTC at $20+ I would panic HODL

s-crypt ASICs will be coming online verrry soon - http://www.coindesk.com/kncminer-final-phase-titan-asic-chip/

Personally, im buying back my LTC at these levels

Not sure what I paid in dollars, but have been buying since 0.012, and increasing that when it hit 0.009 - 0.01.

[thefunkybits]

If you've bought LTC at $20+ I would panic HODL

s-crypt ASICs will be coming online verrry soon - http://www.coindesk.com/kncminer-final-phase-titan-asic-chip/

Personally, im buying back my LTC at these levels

Not sure what I paid in dollars, but have been buying since 0.012, and increasing that when it hit 0.009 - 0.01.

I think there will still be a final bottom at about 0.006-0.008 LTC/BTC (when BTC starts to move so fast that LTC can't keep up, im guessing around $1500 BTC)

[cozk]

Don't listen to randoms on the internet.

Take a decision yourself and blame yourself if its a bad decision.

[Keyara]

The price is already so low. Kind of pointless to sell.

Lol so you're saying it's so low that the coin is now pointless?

Both equally pointless to sell and the risk of going down further is small.

[rugrats]

It’s been a while since the dropping, people were talking in this forum ,about the price,  the asic and the future. I am a regular miner who have faith in crypto but can’t afford to lose everything I got just by my faith. There are so many topics about litecoin is dead or it’s not. What I really want to know are :
Litecoin is Now Below 5 USD ,what should I do?I got coins,not only LTC,Doge,even a small amount of Mona, should I sell them all or should I get more?
Asic factories are selling asic machines at a very low price now,is this a good opportunity to get some asics?

Please try not to spread FUD or giving hope for no reason.Thx.

How much did you buy it for?
If you acquired them between $10-$20+, what's the point in selling now? You might as well just hedge and HODL and hope the price will rise again.
If you got them for under $10, you could consider selling.
Either way, watch the price. Once it has bottomed out, you can reenter the market.

Can someone please explain me why Litecoin price dropped recently? (Sorry it's not your answer.)

Scrypt ASICs.

[boraf]

The market cap on LTC is indeed larger than its usefulness for payment and usage.

To get in line with other useless coins, it will probably need to do down a lot further.

[STforLife]

It depends on how much LTC you own, if you can reinvest BTC made by selling LTC in some of current projects, that could potentally bring more ROI, I would risk it. Doesnt look like LTC or even BTC is gonna explode anytime soon.

[rikkejohn]

Most I ever paid for LTC was about £3 .... so the price is still big for me.

BTC  ... well that stung me, with a little help fom Mark Karpeles.

[Picasso7]

I would to know it , if i should hold ltc or sell it all or buy more ltc.

[brekyrself]

Trade some or all the LTC for PTS short term since there is a snapshot for two new DAC's on the 21st.  After the 21st you could always trade back while you gain shares in the new DAC's!

https://bitcointalk.org/index.php?topic=325261.msg8386117#msg8386117

[Brilliantrocket]

Ask yourself, what does Litecoin do that Bitcoin cannot? Nothing. What utility does it have that Bitcoin cannot fulfill? None. Litecoin is a lost cause. They could have redeemed it, but they chose to do nothing. It will decline until something else takes the coveted #2 spot.

[boraf]

Ask yourself, what does Litecoin do that Bitcoin cannot? Nothing. What utility does it have that Bitcoin cannot fulfill? None. Litecoin is a lost cause. They could have redeemed it, but they chose to do nothing. It will decline until something else takes the coveted #2 spot.

Litecoin is cheap while bitcoin isn't. That should considered an advantage.

[SpeedDemon13]

Personally I wouldn't buy a Scrypt Asic at the moment with prices so low. I would use that money to just invest in LTC or other note-worthy Scrypt coin. That's just my opinion though.