Hello, as you all know I'm very into DRK but the LTC crash is mostly linked to the drama over Chris at ltcgear. He owns so much hashing power but payouts on his site are delayed and so the dip.
It amazes me that ONE single person/entity can wipe out the LTC market. There's got to be more to it.
Namely, IMHO, ASIC raping.
Note that I DO believe ASICs are good, when you have a fundamental coin with intrinsic value to it. LTC had that for just a little while with its 2.5min tx time, which back then was a HUGE thing. But they promoted LTC as ASIC resistant, which was a sham, mainly because it took them more than 6 month since the first gridseeds to amend their website.
Reality is that C.Lee, creator of LTC, said on numerous occasions he did not believe LTC would ever pick up. He openly said on reddit that he sold most of his at around 2$ and laughed about it. He works as consultant for a few BTC exchanges and companies, and has obvious conflict of interest. He left development in the hands of the community, not as in open-source, as in "here, play with it, its yours, I'm out". LTC development has been dead for more than a year.
Then ASIC's come along, with the usual pre-order scheme. Thousands were poured into it, while LTC still maintained a ASIC-resistant stand. I called them out openly in LTCtalk more than half a year ago. Their main webpage only recently removed such statement.
I bought my first mining rig in Feb'13 falling for their false promises, as I was uninformed and still wrapping my head around the whole ecosystem, knew about BTC ASICs, but had no clue Gridseeds were hitting the streets.. All of a sudden, their prime selling point - "power to the GPU people" - quickly turned over that page as veteran LTC geared up on Gridseeds and forever-undelivered ASICs. Few dozen manufacturers started skyrocketing diff and dumping LTC for profit. Along with Gox and China ban, price plummeted. Apart from Gridseeds, no ASICs were ever delivered. I stopped checking in for more than 6 months, but from a few mailing lists I'm still on, generally the case still stands.
Most intelligents GPU miners soon got the picture and ventured out, coincidentally, DRK rose. I was soooo new to the scene... I only wish I had found DRK 2 or 3 weeks before. I was mining 7 DRK a day for 2 weeks, then diff started rocketing. Sold my rig in August, barely ROI, but managed to get me a MN with the remaining rig sale value, so I did ROI in the end. Never did the actual math, but peanuts and bananas I was there.
LTC, IMHO is lost with thousands of bag holders not knowing what to do, mainly because they're so invested in undelivered or un-ROI'd ASICs.