congratulations we just broke half a million dollars market cap and number 35 crypto coin list.
Yeah, I didn't expect the price to go up this high. The volume is still low, though, so I'm sitting here hopeful it'll drop back down so I can buy more, :p.
yeah I think it has something to do with people fleeing darkcoin because it forked, many people probably had the wrong impression that only low hash coins can get forked...
that and all the new money that has come into bitcoin lately.
one of the golden rules of stock market trading is that if a stock rises on no news then it will usually gradually float back to where it was originally.
I'm not too worried, I made a nice little bundle out of todays excitement and I am more than happy that my coins are being spread around amongst new people.
people who will hopefully stick around and add to the community.
I also sold 174,500,000 Coins today from 66 (20% above my original buy in) up to 96. Only a mug would hold their coins when a pump like this comes along - We saw what happened before, massive 300% rise and then a drop day on day until 33 Litoshi, the previous stable point. We will eventually drop back down to 47-49 Litoshi. The secret is to "buy the rumor and sell the news" - Karm was just fine yesterday at 47 Litoshi - it has not suddenly become God's gift to mankind nor has it suddenly become widely known - its a big ol' pump and the dump will hopefully not be to brutal on those who bought at 96 but it will come. Even DRK has dumped down to the previous stable threshold of 0.01 after its rise to 0.0268. Don't make the mistake I did and hold on the all time highs - great chance to make more Karma when it dumps.
EDIT: I am aware of one person in particular who pumped 140 LTC into Karma starting at 51 Litoshi 2 days ago in order to try and make back what he lost on Blackcoin - be aware that most people are not buying because they believe in the coin, rather because it presents a rather tasty opportunity to make a quick profit to reinvest in one of the big coins such as DRK (which is extremely low right now as it is).
That just seems to be the way Crypto traders work. PND was the last example of this occuring in the Litecoin market.