I think it may sink below $70 tonight, and then it's ooooonnnnn!
Good luck with that lol.
Thanks, smoothie.
Don't know about you -- but I was quite jittery going into Thursday; I took some profits at $90 and missed out on the top, but then was able to re-buy in at the bottom. The market responded very well to what was clearly an organised assault by people speculating in LTC.
Before I thought we were starting to look shaky at $90; however given the jump back up, just prior to what was looking like a shaky long weekend with weak buying pressure, I think we look much stronger. The floor is much higher and stronger than expected, and I think we will now have a sideways correction at this level for a few days as confidence fully returns.
Organized assault on people speculating on LTC?
WTF! Do you have any idea on how stupid that sounds?
A DDOS on Mt Gox and other exchanges commenced before the sell-off began. LTC:BTC began rising significantly a few hours before the sell-off began. There are a few other posts here about it -- someone else reported this on Twitter too. Seems quite plausible to me.
EDIT: Here you go:
http://www.btcanalyst.com/2013/03/someone-did-something-p.htmlOf course it may just be a coincidence, but it fits. It sounds a lot less ridiculous than saying "the price reached an arbitrary line drawn on my chart so it crashed". However, I do agree that the timing was perfect.
Right now the one showing arbitrary lines in a chart is you, but there is no problem with that. i think.
LTC has always moved in the contrary direction BTC moves. It has been like that for sometime right now and i can show you a dozen times where this has happened.
The part that is VERY different is volume. LTC has a LOT less volume than btc has so the move that brought btc down, would have done a skyrocket in ltc much bigger than a few cents difference.
For btc on the other hand, it has always done the weekend dips. With ddos or no ddos, every weekend there is a dip, small or big. Recently the weekend dips have become stronger, i think because there are a lot of early adopters and because there have been so much rise that it has become more suseptible to this.
Most importantly you gotta understand that this dips are what will keep the price going up. Its as normal as the big dip will be. Its kind up stupid to think that corrections are part of a conspiracy of some kind... seriously, this so topish that it makes me lol. But what the hell... "ltc speculation is the cause for.the dips", as if btc wasnt speculation in itself... lol