Charlie Lee says Litecoin correction coming

Jumli

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

I am not convinced by the predicted decline of up to 90% of this, from my vision of ltc for the upcoming will surely rise in price because from 2016 ltc there is always an increase ,, there is indeed a decrease but from last year the decline was not to exceed 95%

slaman29

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

He isn't saying soon, he is just saying that is what he expects. And he is basing this off his experience with being in crypto for seven years. I believe he is only giving a word of caution that markets are cyclical. Perhaps this crypto thing is still new and we won't observe steady trends for a long time, but I think he is right to expect what should be expected. He is one of the few realists around, I really like him (and Litecoin).

If you're a Litecoin holder, then the price doesn't matter. If you're a profiter/trader, then sure, lock in your profits now.

pedrog

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

We are all expecting a correction in bitcoin price since $5000, the thing is nobody now when will happen and how high this bull run will go.

Hold tight your coins, take some profit, enjoy life.

miningguru

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Suddenly the price of LTC has increased a lot and yes soon there will be a correction happened. Soon the price of LTC will drop 250$ and will consolidate at 230$ to 250$ for sure.

waarishi

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Just HODL, my god what a discussion lol.

baronious

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Quote from: wagi on December 13, 2017, 02:53:23 AM

Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

My opinion, now is good time to sell too. Why? Litecoin run is going to the top and correction will happen soon.
Before correction, i will suggest to sell and buy back in lower price.

Litecoin isn't correcting anytime soon..Looks like the target is $500 now based on the TA so I wouldn't recommend selling right now.

wagi

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

My opinion, now is good time to sell too. Why? Litecoin run is going to the top and correction will happen soon.
Before correction, i will suggest to sell and buy back in lower price.

burky156

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I am Litecoin owner and after i read this post i deposit all my LTC's to my bittrex account and wait online for exchange to bitcoin. I was really happy for the LTC raise but now i am very nervous.. I don't understand why would Charlie Lee made announcement like this?? Really i don't know what to do but 6 hours ago the LTC price was $335, now $308. I think i will exchange it..

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

No sh*t Sherlock. LTC's current rise looks very pumpy imho. But I wonder why he's telling everybody that it will fall back to 20 USD. Does he know something that we don't? It's really unusual for a guy directly involved with the project say something like that knowing the risks it could cause the traders.

Bittoshi

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

Looks like he want to buy back some LTC and is trying to bring the price down first. Of course he could be right and selling now is a good time. Who knows.

okala

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Quote from: Sikka157 on December 12, 2017, 01:10:42 PM

Charlie Lee tweeted that he expects a Litecoin correction soon. Here is the tweet

"Ok, sorry to spoil the party, but I need to reign in the excitement a bit...

Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! "

Might be a good time to sell for profit before the correction. any thoughts?

I respect Charlie Lee because most of his views about a coin do come to pass. This is expected because litecoin cannot sustained the bullish momentum and a heavy corrections is underway that might push litecoin price below 150. The current price of over $350 was push too far without creating were price can have some support.

Geleve

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Litecoin has still a good potential. If you want to hold for long term and if you have enough patient character, it is not a problem at all. Even if it drops a bit after a while it will continue to climb up more and more.

onetwostep

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I think what they say is very true. This guy is the founder of this coin and he even realizes that the price rise is dangerous.
He does not want to be in the coin fluctuations.

Briian007

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I do not think Litecoin will back to that target Charlie said. If the price reduce to that target, the market will become more un stable and the bubble may be explosion any time.

bgdmxd

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I'm hoping for a correction to buy a few more LTC, but so far this year calling tops and predicting corrections had not been easy. Who knows, maybe it will come tomorrow, or a week later.

SONG GEET

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Price is still pumping rather than going through correction but I also think current pump on litecoin is just fueled by high speculation and hype around.

Price has increased by 3x within a week or better to say in last 5 days which can't be stable pump for sure. Correction might be around the corner....

Sephire

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Well, we did have a correction from $400s down to below $300 and now in low $300s.
Maybe it will stay around $300 for another day or two before going higher.

gokayc

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I aspect and correction on Litecoin too. Its price too high in short time. For sure so many trader will want to get some profit from this last price explosion so they will sell at least some of their coins and this will cause some drop. Maybe 10 % maybe 60-70% noone knows.

kojoannan

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I liked Litecoins because of the stability but the manner it is flactuating these days, I guess I have to sell all my coins for a safe haven coins.

Denamen

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This is the same as Vitarik Buterin. He said ethereum in the bubble now. But who care? ethereum still x2 so I think litecoin can go up more. Cheesy

keep hold

Topic: Charlie Lee says Litecoin correction coming (Read 1627 times)