Is there a correlation between price and major wallet upgrades? - page 2.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

Quote from: jackg on July 03, 2020, 07:11:49 PM

Quote from: Bitcoin_Arena on July 03, 2020, 07:07:20 PM

Not sure if 3xed means 300%(3x) but Price seems to have been in the same average range in the past 3 months and a huge drop in the last one year from around $150 to just around $50 according to coinmarketcap.

I think I threw an amounbt into it last year in around february-march time and pulled out a decent profit from it (seemed to go from 0.007 to 0.018 from what I remember), the year before when I missed it I watched it go from 0.006 to 0.022 on exchanges... It's a past history I expected to continue into spring this year but I think the whales were busy with the halving.

My bad, I realized what you were saying and i tried to remove the reply but guess you were quicker than me Cheesy

You are right, LTC rose quite well even way before that bitcoin bull run that started in April 2019. Someone who had made an entry at the beginning of Jan 2019 could have easily made X6 profit by July 2019.

Twinkledoe

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Quote from: ryzaadit on July 03, 2020, 06:32:54 PM

Not really.

I don't thing update wallets to bring a significant effect to the price, not every update will make the price rising we need to see all aspect first from the update. One of the example, maybe bitcoin when they update to make it more cheaper with update the Segwit, Transaction Time and other things.

Or it depends on the coin and the kind of upgrade that they are getting. If if it is a major upgrade coupled with developments, I think it pushes their price as traders are thinking that the price will increase because of the progress. However, it is only case to case basis. I don't think there is a strong correlation between the price and major wallet upgrade for every coin.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: Bitcoin_Arena on July 03, 2020, 07:07:20 PM

Not sure if 3xed means 300%(3x) but Price seems to have been in the same average range in the past 3 months and a huge drop in the last one year from around $150 to just around $50 according to coinmarketcap.

I think I threw an amounbt into it last year in around february-march time and pulled out a decent profit from it (seemed to go from 0.007 to 0.018 from what I remember), the year before when I missed it I watched it go from 0.006 to 0.022 on exchanges... It's a past history I expected to continue into spring this year but I think the whales were busy with the halving.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

Price seems to have been in the same average range in the past 3 months and a huge drop in the last one year from around $150 to just around $50 according to coinmarketcap.

The coins still doesn't look good in the coin market capitalization rankings, losing a spot to unpopular coins like BSV but lets wait and see what happens in the coming months.

jackg

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https://bit.ly/387FXHi lightning theory

I've been looking at litecoin for a few years and it's not bad for stability but I wouldn't try to second guess what it does. If it makes the news that it has an upgrade then you'll probably see some change in the price of the coin but there may be problems with it being privacy based I'm not sure a lot of fiat exchanges like privacy coins... (I might just be thinking of cex though as I've bought dash in binance)...

Ltcs price has 3xed over a few months in the past so that might be likely again, I'll certainly have a look into its health to see how it's doing once it starts to recover a bit...

ryzaadit

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Not really.

I don't thing update wallets to bring a significant effect to the price, not every update will make the price rising we need to see all aspect first from the update. One of the example, maybe bitcoin when they update to make it more cheaper with update the Segwit, Transaction Time and other things.

JeromeTash

legendary

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Heisenberg

Price surges based on News, wallet or network upgrades are purely speculative especially if a coin has a small volume to be easily manipulated by whales. You can never know what the manipulators have in mind. I wouldn't say LTC is a small coin as compared to BSV but manipulation is still very possible. You have to be very careful if you plan to buy any Litecoins. Just buy what you can afford to lose in case things don't go as expected.
High risk equals high reward but it can also be equal to high loss Wink

stomachgrowls

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Quote from: Lionel on July 03, 2020, 02:27:58 PM

So can we expect the LTC price to surge in September/October ?

It depends! because not all things that do happen in the past will surely happen into the future.Its somewhat normal when there significant updates on said project

on which its price do really increase and as you had elaborated above for some coins then its good that you do able to observe it out and now LTC is tending to have

wallet upgrade.Its up to you if you can risk up some bucks just for you to accumulate since you do presume that there would be an increase on upcoming upgrades that they
do had but just want to say that dont expect too much because not all things would happen as you anticipated.

gentlemand

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Welt Am Draht

The people who decide the price of these things, the traders, probably never touch a 'real' wallet in their entire lives. Their coins remain on exchanges. I'd be impressed if 10% had any awareness of a wallet upgrade.

It's forks that sometimes inspire a pump, often with the wrongheaded assumption there'll be an airdrop. No one cares about wallets.

Lionel

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Beginning of 2020: BSV wallet ver. 2 released => price surged

A few months later: Reddcoin and Cardano had major upgrades => price surged for both

A couple of other cases like those happened for some of the top 100 coins this year, so i wonder if there is likely to be a pump before a major upgrade, if the project in question is among the ones with the most market cap.

Now, the next big upgrade we are waiting for is privacy integration into Litecoin ( estimated release: fall 2020 ).

So can we expect the LTC price to surge in September/October ?

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