Perpetually confused by LTC.

matt608 · January 25, 2015, 12:24:33 PM

http://www.reddit.com/r/litecoin/comments/2tgjto/official_litecoin_developers_and_litecoin/cnywl9x
"For the last half a year I have also been independently consulting a banking organization that is interested in integrating cryptocurrency into their financial service offering. They are integrating Bitcoin and Litecoin (as well as possibly Etherium in the future). This is a major project for cryptocurrency ecosystem in general and will be announced in the next few months."

gamey · January 25, 2015, 12:11:56 PM

Quote from: xeroc on January 25, 2015, 10:47:57 AM
You ever thought about LTCs long term expectation ???

Which would not be 50% in 24 hours going UP.

Hpenvy's suggestion showed something but not enough for the volume we saw IMO.

xeroc · January 25, 2015, 10:47:57 AM

You ever thought about LTCs long term expectation ???

Ander · January 25, 2015, 04:51:40 AM

It was slowly rising, and a big short got margin called this morning and the prices spiked +100% for a minute and went back down. Since then its been rocketing higher. (I posted a thread about it this morning but it got deleted apparently).

gamey · January 25, 2015, 02:43:16 AM

Quote from: feedthemcake on January 25, 2015, 02:26:30 AM
It's a pump by those who dumped BTC downward.
Not speculation.

Traders worked together and pooled coins/borrowed coins. They waited for the moments when everyone went long, pressured price downward a little, helped with momentum when it started rolling over, took massive 50x positions and shorted all the way down. Went long 50x at the bottom and caught it while also rebuying on market as a catchers mitt. Helped rebound price while also in 50x, sold btc on the way up and set positions to close off 50x on way up. Started pumping LTC while going 50x on LTC. It's REALLY easy to move markets when you work together and reap absurd amounts of profit on 50x leverage.

Note: I heard the plans at 325.

This would happen on Bitfinex?

Why would they wait for everyone to go long before starting the process?

I'm always trying to understand markets.. I guess almost no one really does but I always feel like I'm behind.

feedthemcake · January 25, 2015, 02:26:30 AM

It's a pump by those who dumped BTC downward.
Not speculation.

Traders worked together and pooled coins/borrowed coins. They waited for the moments when everyone went long, pressured price downward a little, helped with momentum when it started rolling over, took massive 50x positions and shorted all the way down. Went long 50x at the bottom and caught it while also rebuying on market as a catchers mitt. Helped rebound price while also in 50x, sold btc on the way up and set positions to close off 50x on way up. Started pumping LTC while going 50x on LTC. It's REALLY easy to move markets when you work together and reap absurd amounts of profit on 50x leverage.

Note: I heard the plans at 325.

hpenvy2 · January 25, 2015, 02:20:26 AM

Quote from: gamey on January 25, 2015, 02:10:56 AM

Does anyone understand this? This thing has went up 50% in past 24 hours and with a lot of volume. (if you are to believe it)

Is it being pumped somewhere? What would there be to pump? Who would buy it? Anyone have any insight?

I do.

http://www.reddit.com/r/litecoin/comments/2tgjto/official_litecoin_developers_and_litecoin/

merlin0113 · January 25, 2015, 02:14:46 AM

1. It has fallen too much the past month;
2. It has big exchanges like okcoin, huobi which means big money can easily flow in.

gamey · January 25, 2015, 02:10:56 AM

Does anyone understand this? This thing has went up 50% in past 24 hours and with a lot of volume. (if you are to believe it)

Is it being pumped somewhere? What would there be to pump? Who would buy it? Anyone have any insight?