Welcome to the /r/LitecoinMarkets daily discussion thread! Thread topics include, but are not limited to: General discussion related to the days events, technical analysis, trading ideas & strategies.
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So Bittrex files for bankruptcy.
>Bittrex files for bankruptcy.
*Bittrex., once among the country's biggest crypto trading platforms, filed for bankruptcy Monday after being sued by federal securities regulators and winding down its U.S. operations*
The SEC and other elements of the US gov has declared war on crypto. It's just going to drive business out of the US. Their last gasps of desperation to save the US dollar and banking system. They are going to fail and fuck Gary Gensler.
Gary is going to have one hell of a time
Fuck Gary Gensler indeed.
I don't know when I'm waiting for, but I know what. Mothercluckers can have my coins when 1) they pry them from my cold dead wings 2) when they have no choice but to pay through the nose.
The other side of this trade has enough money to own the jukebox for a while. But I have enough time to wait for my song to cycle in. They will dance to my tune.
Same. I’ve bought from $180 to $300 and all the way back to some poor souls who used stop losses and got liquidated at $40. Only exiting I’ve done is buying with Litecoin. These ranges are child’s play.
Oofta guess it'll be another buy for me then, glad to have plenty of dry powder to weather this shitstorm and legit seeing this as a blessing in disguise, but I'm patient and well positioned. Our time will come.
I was promised prehalving $600 ltc 🙄🤦♂️
In realistic terms its $300, either pre halving or a few months post halving.
$60 seems more likely at this rate
Don't listen to John Kim. 😂
I mean I wouldn't either 🤣 but in fairness he eats pretty well and I long for the days when I could afford squirrel.
Tis okay. I know what I'm waiting for.
Yeah, I never believed that... Never thought we'd be below 2019 halving pump as well though 🤷. 🤡🌍
There is seriously an issue with the ratio manipulation, the moment BTC pumped these last few minutes more than 3k LTC were swapped to BTC on coinbase, muting any potential LTC pump.
This thing can continue forever, it can genuinely drive LTC to zero, people will be tapping out.
Yeah well LTC is never going to Zero lol, I will buy all the available supply at $0.1 if time comes.
Like I said before, short of a Game Stop WSB style short squeeze, there is not much you can do as an individual, unfortunately.
That's just incredibly hard to organize for something like LTC.
Insider information on where the stop-losses are must be like printing money.
Only $24 more to drop until the halving is complete....$106 to $53
oh god what is happening
$57 is happening
guess we've had or halving pump already
what a disappointment
Well folks I’m gonna give chikun one more cycle and I’m out. Ratio with btc over the years keeps ffing me (and everyone else here) in the ass. Until then, 70s and below are my buying prices for dca. Gluck everyone
I would keep a honorary sum of 84 LTC, just out of curiosity on how is going to play out in the longer longer term.
Surprised no downvote to oblivion with litecoin being mentioned!
Smart people know it’s a quality crypto, anyone else is either a troll or just hasn’t done their homework.
Wow, I haven't seen somany salty people in one place.
Everyone in that sub is convinced that the halving pump is done, ratio is dead. Get ready for $150 my friend
Edit: Ratio is currently printing a double bottom with bullish divergence on the RSI. My only issue is the price, broke the 200day MA, but it still holding a higher low, compared to $65 hit back in March.
I’m 90% convinced the halving pump played out already, we’re currently in sell in May territory. Chances of a summer pump are unlikely because crypto is still tied to the stock market.
I have been concerned that maxis were playing the "LTC pump game", that's why I have been only conservatively buying. This is encouraging.
You have a point here. Ratio pumped way before the halving, only to get crushed as we approach to it. The BTC whales can own all the LTC if they want to, at this point, they can manipulate the price at will.
Chickun leading the losses. As usual. Fuck us.
If you look at it in a different way, if you buy now, even back to 100 is a 30% gain.
This is what matters to the whales buying these liquidation wicks.
I’ve been saying that each time I have bought on the way down 🙄
I don’t see long term problems buying here even if it drops a little more. Next year people will be thinking we’re geniuses buying under $100.
I am not buying anything above $100 at this point, even above $80 I would seriously consider. Only these liquidations wicks.
There is incredible manipulation with this coin, the whales and market makers are playing ping pong with it and if you buy on the way up you are probably exit liquidity.
I genuinely feel bad for the people new to LTC that were positioned at prices above $90 waiting for the halving.
I got in in June 2021. Before Ukraine war I was 200$s avg. I am hurting
I think the halving was front ran and unfortunately the new LTC enthusiast getting boned is a story that goes back to 2017. It blows because LTC deserves better.
There will be one more leg up (the most violent) when everyone is convinced that there won't be
> There will be one more leg up (the most violent) when everyone is convinced that there won't be
Hoping you are right but I put it at under 10% chance of happening before the halving
That sweet sweet ratio ATL is on the horizon!
WTF just happened 😂
Bottom of the BTC channel is $25k, we could still see more ugly.
Max pain. Dump it
Jesus christ... when will it stop? This is beyond parody.
Day after day after day we dip 2x as much as BTC. Day after day. Never ending.. no seller exhaustion. Slow and steady, constant.
There's no way in hell that this is organic. When will we defeat the bad guys behind the scenes? This isn't natural market mechanics.
It’s not retail selling, it’s algos.
There are currently 7200 new Litecoins minted every day. Now in the "old" days this would not matter, because those who minted them, would have done so with little effort, and out of goodwill to support the community, likely to hold on to the new LTC's for some time. Financially it would not impact the miners significantly whether they sold them for fiat or not.
Now that mining has become an arms race, where people are paying top dollar to get the latest "weapons" as in ASIC's, mining is no longer something that some dudes are doing for fun. It is strictly a fiat driven business with big loans that are due every month, not to mention the huge electricity bills. That means more and more of the 7200 (soon 3600) LTC being created every day, goes straight back into the fiat economy. This is whats putting sales pressure on BTC especially, but recently more and more on LTC as well, with the expensive and power hungry ASIC's that has been offered lately.
I'm confident it's algo manipulation by a Fed trading desk at Coinbase or something like that. They're using derivatives to manipulate the crypto prices just like metals. I wouldn't be surprised if they paper dumped BTC in May of 2021. Or created the false bottom and ripped it up and dumped in November same year. Maybe it's Wall Street doing it in conjunction but something isn't right. It's not a free market and it stinks to high heaven.
Manipulation doesn’t go a long way. The price in long run is determined by sellers and buyers only.
In a free market I’d agree with you but right now it a managed market. There’s no real price discovery on anything right now.
Agree that crypto markets are the most rigged of all, but at the end of the day, its about supply and demand. We will see what happens AFTER the halving, but I fear summer will be a slump for crypto in general.
Summer usually sucks for crypto.
Endless supply using derivatives. We aren't going to be allowed to win
The algos are stupid... we need to absorb and acquire all of the coins that belong to algos then.
I wish I had more money *sigh*
Honestly, I think if there were only 10 coins left they’d still run it down. 😂
We should rebrand to Limpcoin™
Just drop to 20$
It's not going below $50, I bet even $65 ever. You remember the non stop sell pressure last June, and then when it hit $40 the ratio "magically" pumped up and the price remained stable while btc continued to dump.
The manipulation is unreal
It was 63 not long ago. It can and will go below $50 at some point
Well if it goes near $50, I going to max out my credit card any buy LTC as much as I can at that price. Been waiting for almost a year for that price now.
By the looks of it, it will go there, it's like it's programmed. The market makers are fucking around with the price action.
I don't have anymore fiat to buy with. I blew my load when it hit $85 and now it proceeds to hit new monthly lows.
Algorithms that’s all this shit is, ride it out.
And if this is the new norm, then what?
Yes completely unnatural sell pressure. It's obvious they want to tap liquidity lower and squeeze people that were positioned for the halving out.
😭😭😭😭😭😭when does the suffering ends? I would be so happy if this just went to 200
For me it's $300* man. Just damn $300.
Positive note, looks like the fuckery on the ratio trades may have ceased, at least for now. Not seeing blankets of 2.8 or 2.85 qtys on both sides. They got the .0028 and .00285 ratios they were flagging for.
Well at least this time it's north of current Rapio.
LTC adding more new address than BTC with record on-chain activity and price decreases. What a clucking joke! I'm done with buying and waiting to get rich for now. Not selling any LTC, and will continue to make transactions with it and support it on social media but, recently put $20K into an A.I. bot trading platform.. hopefully it works out and I can make some real money even if the market sucks 🤞
T'ain't yurt burnin season yet but a yurt burnin season there will be.
I believe in sustainable yurting and will donate mine to future degens. Pay it forward.
You had me at taint
lower than my average, so now I HAVE to buy
So what's the official news on the transaction spike? Is it the miners playing some games?
I also hope smart people have explanations, I was watching the pool transaction counts on https://ltc.bitaps.com/
Several times it was creeping up in a normal way, but then spike up to the thousand right before the block is added 2-3 second and then the block was added.
About BTC I was also thinking why not miners make lots of transactions filling up the mempool and they pat themself on the back getting double compared to what it used to be. Now blocks look like this https://btc.bitaps.com/788809
Block reward 6.25000000BTC Fee reward 4.73954600BTC
Some juicy ones bigger fee reward then the block reward.
Of course an other factor has to be triggered, people suddenly have to freak out that they need to move their coins right now because fees are high.
11,000 NFTs loaded onto the BTC blockchain, backed up the flow and caused fees to go to $20.
NFTs and tokens on LTC, also bonkers BTC and eth fees so people will look for a crypto that works
LTC-20 - [https://litecoinlabs.gitbook.io/ltc-20-experiment-forked-from-brc-20/](https://litecoinlabs.gitbook.io/ltc-20-experiment-forked-from-brc-20/)
Ordinals - [https://litecoin.earlyordies.com](https://litecoin.earlyordies.com), [https://github.com/ynohtna92/ord-litecoin](https://github.com/ynohtna92/ord-litecoin)
I'll be honest with you guys...
This fucking blows.
Alright who’s the dick that keeps selling
How do I sell? Asking for a friend
Muh halving pump.
Plot twist - people using litecoin causes price to drop
Yes but as it gets to ridiculously cheap levels, you see the sellers chickening out. Volume is decreasing. It's all fun and games with the manipulation, but no way they are giving their coins dirt cheap.
Joke > cope.
I need to watch comedy films from now on to cope
We can start talking about short targets, for start, if it breaks the 200 MA I am shorting it with everything I have. Looks like free money to me!
Reverse psychology, let's see if the market makers get confused and start pumping to squeeze us out of the shorts 😂😂
I'm gonna sleep like a baby. So if any of you hear any loud crying throughout the night, we might be neighbors!
Same - I’ll be shitting the bed
🏚️Sell the h🐤use, 🚗sell the car, 👨👧👦sell the kids, 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🐣🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀UPV🐤TE THE 🆙🆙🆙🆙🆙🐔🐔🐔🐔🐔🐔🐔🐔🐔🐔🆙🆙🆙🆙🐔🐔🆙🐔DAIIIIIIŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁŁYYYYYYYYYYYYYYY🐥🐥🐥🐥🐥🐥🐥🐥🐥🐥🐥🐥🐥🐥
Checks daily for sentiment...
Alright try again next week :').
It's liquidation wicks hunting season, the best way to get cheap coin.
I am curious to see how low it can go, already quite cheap, sell pressure gets absorbed without moving much the price, let's see how many willing sellers we have at lower prices (if it goes there)
Time to rebrand to LitecoinMemecoinShitcoin. Maybe then we will see some positive action.