The Litecoin Thread

Hammer Archer

The One Doctor wrote: »

Apologies, I misremembered the tweet.

Nevertheless, a drop from €300 to €30 is epic, and I'll be delighted if it happens (more LTC for me to trade) but it would be a prudent move to decide your exit strategy now.

True, and anyone who invested in this if they couldn't handle that sort of drop is, quite frankly, an idiot. If that does happen, I'll probably still hold on and see what happens in the long term. Again, losing the amount I put in is obviously going to be annoying, but it won't bankrupt me or anything.

The One Doctor

Hammer Archer wrote: »

Again, losing the amount I put in is obviously going to be annoying, but it won't bankrupt me or anything.

Yes, but losing almost the entire amount you have now is going to really goddamn annoying. Unless of course you just bought a few coins, say two or three.

Bottom line: Consider your HODLing strategy and have an exit criteria. For instance, my criteria consists of two options: Buy and get out with at least 2.5% profit (usually I get 10%+) or break even. However, for HODLers, break even is fecking terrible. So think of a percentage you'd be happy to get out with and stick to that.

EagererBeaver

GreeBo wrote: »

The One Doctor wrote: »

Well, LTC was at €300. Now it's €240. The creator of Litecoin thinks it will hit $4 again. Do you take your certain 489% profit now or...

If you're a hodler you need an exit strategy.

If you are going to FUD, at least quote correctly!

He thinks it could hit $20.

Charlie Lee wrote:

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!

And he thinks $20 is highly unlikely. He was simply passing comment on the wild speculation going on and advising people to invest carefully. This earned him the scorn of morons on Twitter who believe his job is to pump the price as much as possible.

The One Doctor

pro_gnostic_8 wrote: »

Day-trading in a bull market makes it seem like day-trading is child's play. Easy money, etc.
Just be very careful and be prepared when the market turns.

Day trading in a bear market means that the time scales change from hours/days to minutes. Things drop, it's the bounce you make the profit from, like today's LTC drop. Although frankly I was too scared to stay in for more than a few minutes.

pro_gnostic_8

The One Doctor wrote: »

Day trading in a bear market means that the time scales change from hours/days to minutes. Things drop, it's the bounce you make the profit from,

Except that it is not a given that a Bounce always follows a Drop !

august12

A question for the more experienced people trading in crypto, do ye think Litecoin will rally to over 300 in the near future? Have held my nerve and not sold even though I am slightly at a loss now.

The One Doctor

august12 wrote: »

A question for the more experienced people trading in crypto, do ye think Litecoin will rally to over 300 in the near future? Have held my nerve and not sold even though I am slightly at a loss now.

Maybe, it's really hard to say. LTC has displayed this behaviour before and recovered very well. But no-one really knows.

The One Doctor

pro_gnostic_8 wrote: »

Except that it is not a given that a Bounce always follows a Drop !

A bounce always happens unless there's very bad news (coin delisted etc). The bounce could be smallish, but it'll still bounce.

august12

The One Doctor wrote:

Maybe, it's really hard to say. LTC has displayed this behaviour before and recovered very well. But no-one really knows.

That's some bit encouraging, I know many people state, only invest what you are willing to lose, but like the majority of people, I would prefer not to lose anything and hope to gain.

pro_gnostic_8

The One Doctor wrote: »

A bounce always happens unless there's very bad news (coin delisted etc).

WHAAATTTTT ???
That'll be the rock you'll perish on, as my ould wan liked to say.
I don't mean to sound offensive, honestly , but maybe you've only been in crypto during a bull market. I've seen many many instances of coins that went into a death-dive and never recovered their earlier price.

gavkm27

The One Doctor wrote: »

Apologies, I misremembered the tweet.

Nevertheless, a drop from €300 to €30 is epic, and I'll be delighted if it happens (more LTC for me to trade) but it would be a prudent move to decide your exit strategy now.

I dream of a flash crash, I have buy orders for BTC ETH LTC set

The One Doctor

pro_gnostic_8 wrote: »

WHAAATTTTT ???
That'll be the rock you'll perish on, as my ould wan liked to say.
I don't mean to sound offensive, honestly , but maybe you've only been in crypto during a bull market. I've seen many many instances of coins that went into a death-dive and never recovered their earlier price.

Ok, we're using different definitions. A bounce doesn't have to go back to the original value at all, it just need to go significantly above the lowest recent price. That's my definition anyway.

Wombatman

Looks to be a bit of resistance around €220. Let's hope it holds.

dashcamdanny

I woke this morning to find a huge chunk of money disappeared.

When do you guys rekon its a good time to buy back into litecoin. If at all?

Hammer Archer

There's usually movement in the early/mid afternoon when the Yanks wake up. Unfortunately, it's been down each time the last few days but you never know....

The One Doctor

dashcamdanny wrote: »

I woke this morning to find a huge chunk of money disappeared.

When do you guys rekon its a good time to buy back into litecoin. If at all?

Hard to know. It's pushing down fairly consistently now, more than I would expect for a correction. If I was intending to buy to hodl I'd be waiting a while to see which way it swings.

Personally I'm expecting it to zoom or dive in the next few days. Which way? Who knows.

dashcamdanny

The One Doctor wrote: »

Hard to know. It's pushing down fairly consistently now, more than I would expect for a correction. If I was intending to buy to hodl I'd be waiting a while to see which way it swings.

I sold what I had left and got back into the bitcoin .

On the way up again.

Lord Nikon

fran426ft wrote: »

take a look at the markets for LTC on Coinmarketcap and you will see how prices vary

https://coinmarketcap.com/currencies/litecoin/#markets

Why isn't Coinbase on it?

banie01

Lord Nikon wrote: »

Why isn't Coinbase on it?

Likely because GDAX = Coinbase.

UsBus

Cmon Lite coin, bounce harder...

papu

UsBus wrote: »

Cmon Lite coin, bounce harder...

Boing!

Autochange

Bitcoin up, Ethereum up. Litecoin dropping!

Is there reason to consider thinking about possibly worrying ?

grindle

Autochange wrote: »

Is there reason to consider thinking about possibly worrying ?

No. All boats rise and fall with the tide.

Autochange

Been watching the trades with one eye on crypto compare for a little bit this evening.
There are lots of litecoin sell orders for 2.56 euro. What do these mean?
There was loads of them. Tiny amounts

Blacktie.

Autochange wrote:

Is there reason to consider thinking about possibly worrying ?

There's always a reason to consider thinking about possibly worrying.

machiavellianme

grindle wrote: »

No. All boats rise and fall with the tide.

Not all boats. Some are torpedoed or have holes in them so are sunk forever.

grindle

machiavellianme wrote: »

Not all boats. Some are torpedoed or have holes in them so are sunk forever.

Very true. Hard to torpedo something the size of LTC in a growing market, but maybe Charlie & devs & supporters will die overnight.

Twiggy69

I sold a couple of Litecoin on my Coinbase App. The price was clearly €272. However, on the transaction 'docket', prior to hitting the Sell button it showed €266. I came back out checked the price again, it was still at €272 ... attempted the sale again and again it showed €266. Also shown on the 'docket' was their 4% Commission... Why would there be
a price differential like this??? I will be sure to carry out all further trades on GDAX if I am going to gouged like this by Coinbase...

papu

Twiggy69 wrote: »

I sold a couple of Litecoin on my Coinbase App. The price was clearly €272. However, on the transaction 'docket', prior to hitting the Sell button it showed €266. I came back out checked the price again, it was still at €272 ... attempted the sale again and again it showed €266. Also shown on the 'docket' was their 4% Commission... Why would there be
a price differential like this??? I will be sure to carry out all further trades on GDAX if I am going to gouged like this by Coinbase...

Yes coinbase charge fees and do not give you current market value. The recommendation would be to do your trades on gdax.

The One Doctor

Nice drop on LTC there, bought a few coins. Coming back up now.