I called it accurately yesterday with my prediction on the price drop come the 51000 KGW implementation and I believe that in the next 12 hours max. we will see a dump back to 41 before consolidation of buy orders occurs.
The reason being, there are many miners, like the person who posted about mining 36 million coins in half an hour with a low 600K hashrate, who will be building up the sell walls and dumping at the highest buy order. Billions of coins have been effectively swiped unfairly because of the absurdly low KGW difficulty after 51000.
It is not tenable for a person who mined 36 Million coins in half an hour at 600K to suddenly be flush with potential Litecoin - the price MUST drop or else those buying at 48 and 49 and effectively throwing money away.
People are not stupid - they know coins were snagged in unacceptably disproportionate bundles by miners and they will not simply give away there Litecoin to these people, not en masse anyway.
Chill, in the grand scheme of things, miners like me who sweated it out for days clearing the last blocks got the majority of the coins. I have been checking the rounds on the pools and it was the major players on the pools that snagged them. Worthwhile for all the effort and wasted leccy costs. Personally I was mining for a week with nothing to show for it until I got the windfall to break even + 1/2. Yes some people did get lucky, but a small percentage. I think of it as a reward for sticking with TIPS.
Plus also, working it out, it was a drop in the ocean compared to the total number of coins mined since launch and now we have a more stable coin.
There will always be people after a quick buck, let them and buy their coins on the cheap sub 50
You will see 3 x 100 bets on your logs, ID 278, 279 280
