The Litecoin Thread

Benildus

Truckermal wrote: »

Anybody buying back in or holding out for further drops? I'm holding out and watching the price drop.

Holding. Got burned with the sell and buyback process before, so i avoid it now.

Bob24

Truckermal wrote: »

Anybody buying back in or holding out for further drops? I'm holding out and watching the price drop.

The usual advice is not to buy in a downwards phase.

annie.t

Bob24 wrote: »

The usual advice is usually not to buy in a downwards phase.

Said no Wall Street whale ever...

12gauge dave

I'm holding out I bought at 132euro last week. Such a week I choose to get into it.

Bob24

12gauge dave wrote: »

I'm holding out I bought at 132euro last week. Such a week I choose to get into it.

Yes that's what I meant, buying during a strong and long enough downwards trend is very risky as you don't know when it will stop. It is probably better to wait for a clear rebound (if it ever comes) even if it means missing the bottom of the bottom.

banie01

12gauge dave wrote: »

I'm holding out I bought at 132euro last week. Such a week I choose to get into it.

Some folks bought into LTC @€;320 in December. Big and all as the drops are, if I was holding LTC or indeed any crypto bought at the Dec prices, the thought of selling out and crystallizing the loss must be scary.

Its looking like a bit of a bear at the moment, the opportunity is there to take advantage and lower the average cost per coin paid by buying in on price drops. That opportunity needs to be weighed against the current market conditions on upon how you feel it may go.
Its really only an opportunity if you have faith in the coin/market and that the price comes back up again, and the actual cash to spare.

Dades

banie01 wrote: »

Its really only an opportunity if you have faith in the coin/market and that the price comes back up again, and the actual cash to spare.

That's it really.

If the money is leaving the market and nobody is willing to prop it back up again, then the price ain't going anywhere. Your only hope is to ride the coattails of any pump and dump that might happen. Which is nothing new - we've only ever ridden on the coattails of the big players.

Truckermal

Nice gains to be seen today for any of us who bought cheap!:)

Chancer3001

Think the thread starts 7 months ago. Litecoin was around 60 dollars. 170-180 these days.

Obviously there was an explosion at one stage but it's still chugging along nicely

Bob24

Chancer3001 wrote: »

Think the thread starts 7 months ago. Litecoin was around 60 dollars. 170-180 these days.

Obviously there was an explosion at one stage but it's still chugging along nicely

Could be relevant as a short term speculative asset, but I’m not sure about the long term though.

If you compare to other major cryptos, it’s no bitcoin in terms of recognition as a store of value, and Ethereum or Ripple seem much better engaged in terms of technology and/or finding practical applications.

Dohnjoe

Bob24 wrote: »

Could be relevant as a short term speculative asset, but I’m not sure about the long term though.

If you compare to other major cryptos, it’s no bitcoin in terms of recognition as a store of value, and Ethereum or Ripple seem much better engaged in terms of technology and/or finding practical applications.

It's a trading pair coin, long established, the "lower price per coin" is more attractive to newer buyers, low fees, few forks. When the market dives or goes into a bear, it's seen as a safer coin than many of the alts, and is less volatile during those periods than many other coins

Chancer3001

Bitcoin is the store

Ethereum the tech

Litecoin the currency

That's mainly how they're marketed

el diablo

Truckermal wrote: »

Nice gains to be seen today for any of us who bought cheap!:)

What's your definition of "cheap"?

Truckermal

el diablo wrote: »

What's your definition of "cheap"?

Bought at €91..

UnknownEntity

el diablo wrote:

What's your definition of "cheap"?

I would say that anything from the last dip is cheap i.e below 110€

djPSB

Will it bounce back? Or is it doomed.

Bob24

djPSB wrote: »

Will it bounce back? Or is it doomed.

Could be wrong but I don't think it's looking good.

brendanwalsh

God help the desperate Suckers who bought this at 300euro.

Charlie lee dumping his stack should have been the big clue here. Game is rigged against the smaller player.

Truckermal

brendanwalsh wrote: »

God help the desperate Suckers who bought this at 300euro.

Charlie lee dumping his stack should have been the big clue here. Game is rigged against the smaller player.

It don't seem to be looking good for any of them at the moment!

rapul

Aye ,litecoin seems to be just stagnating, had luckily sold alot a while back for a nice price but it's very tempting to pick up a few again ,will wait till it gets closer to 40 Euro I think

Dohnjoe

brendanwalsh wrote: »

God help the desperate Suckers who bought this at 300euro.

Charlie lee dumping his stack should have been the big clue here. Game is rigged against the smaller player.

The whole market is down, it's bizarre how some people are using that to single out particular coins

Charlie Lee sold in order to avoid conflict of interest. If he held coins, critics claimed any statements on LTC he made was to pump his own stack, when he sold, critics claimed he had no faith. Damned if he did, damned if he didn't

brendanwalsh

Dohnjoe wrote: »

The whole market is down, it's bizarre how some people are using that to single out particular coins

Charlie Lee sold in order to avoid conflict of interest. If he held coins, critics claimed any statements on LTC he made was to pump his own stack, when he sold, critics claimed he had no faith. Damned if he did, damned if he didn't

He conveniently sold at the ATH price though.

Dohnjoe

I would have thought that was the financially prudent thing to do? a significant part of those funds went to the LTC foundation

Frozen Veg

Litecoin has surpassed the $80 mark. 20% rise in 24 hours, 33% in 7 days.

kellbag91

Frozen Veg wrote: »

Litecoin has surpassed the $80 mark. 20% rise in 24 hours, 33% in 7 days.

Can't believe it. What do ya recon on it holding that as a base. Might just be a quick pump.

Frozen Veg

kellbag91 wrote: »

Can't believe it. What do ya recon on it holding that as a base. Might just be a quick pump.

I think it will bull some more. It previously surpassed $300 although it may not reach that again in the next few months, it may continue to climb slowly.

kellbag91

Frozen Veg wrote: »

I think it will bull some more. It previously surpassed $300 although it may not reach that again in the next few months, it may continue to climb slowly.

I bought some before the last big pump thinking it was only set to go up like bitcoin. Haven't touched it since. Between the news of Charlie Lee off loading his share it's hard to guess the long-term value of it. I think the 300 euro mark might be the top value of it.

Frozen Veg

Now at $92.68. A 31% rise today. Holy God.

Dohnjoe

Unsustainable rise, ridiculous stuff

tacofries

Trying to remember the exchanges all of my coins are on !! Nice little profit at that price!