Topic: New Litecoin rally speculation (Read 1132 times)

You nailed it.

it is mostly money which is going from altcoin to altcoin. the wise money (or wise investors) invest in an altcoin while it is low priced and then pump it, as it grows others will join and on top the wise money exits the market to go to the next and those who came in late will stick around begging for a way to exit. this process can be fast in shitcoins and it is slow for better altcoins such as litecoin but it happens for all of them.

and for bitcoin i believe there is some glimmer of hope for the August thing since SegWit has gained >75% support which is more than 90% if you add SegWit2x and SegWit signalling.

June 2017 may be remembered as the month that the true ‘flippening’ occurred, from bitcoin to litecoin, precipitated by a Prague-based group promoting and educating the public on crypto-anarchist philosophy.
The stakes are high for bitcoin, with a face-off between Bitmain, threatening a User-Activated Hard Fork, and those seeking to eliminate miner influence over SegWit adoption, the User-Activated Soft Fork crowd. The standoff threatens to split the network in two, with the UASF-styled ‘independence day’ slated for August 1. The inertia regarding progress in the scaling debate is also causing a cost for users in terms of higher fees for a bitcoin transaction.

The altcoin recently saw a large influx of volume, pushing above 50 percent of the cryptocurrency’s market capitalization and above trading volumes for bitcoin on June 17. At the time of writing, the past 24 hour volume for litecoin and bitcoin are similar, roughly $1.2 billion. The lion’s share of volume is coming from two Chinese exchanges, Huobi and OKCoin, accounting for over 40 percent of the volume over the past 24 hours.

On top of investor and exchange adoption, litecoin is also seeing interest from a cypherpunk grassroots movement and a major hardware wallet provider, Trezor. Paralelní Polis, which hosts the Institute of Cryptoanarchy and the Hackers Congress every year, as well as Bitcoin Coffee, is probably the most significant actor in this true ‘flippening’; maybe we should forget ether and come to terms with litecoin becoming the cryptocurrency that may stand dominant above bitcoin?
In a blog post explaining the switch over from bitcoin to litecoin, the coffee house started with one clear rule; no fiat currencies. They started with the goal in mind to show people that cryptocurrencies are easy and that they are the future. But, they argue, bitcoin transactions are now too similar to traditional banks in terms of fees. The rising fees have forced their hand into deriving their own solution for regular customers:

“We even had to develop our own application for members and regular customers, which would buy credits for bitcoins and then spend those credits to avoid bitcoin fees.”

Resonating with many other voices in the community, they also explain that the risk that UASF bears is perhaps too high, as a chain split would be unavoidable if the support for UASF is low; they state, “it is unacceptable for any business running on bitcoin.”

Something will happen one of those top pumped coins will burst, and with LTC as predefined investment will flourish, we can expect small miracle..I will wait for such event. Only BTC can smash our dreams, or at lest can have major influence with this new apocalyptic scenario for august.

Well whales like to suppress price while loading. This one probably didn't do this on time so now trying to buy some time. My predictions going even further but this won't happen overnight.  Also everything is under question mark, what will happen with BTC in the next period, and how this will influence LTC.

After this accumulated face I expect a very high pump as most big buying are dumping Ethereum for litecoin since on Friday last week. The volume of traders has significantly increase as shown https://coinmarketcap.com. I am see litecoin price at $100 before the end of this year.