Litecoin has been losing relative value to BTC
- Thread starter Pekelo
- Start date
Huobi (biggest Chinese Exchange) will add Litecoin on March-19 (so now all Chinese Exchanges offer Litecoin, together with Bitcoin). Asia leads the way...
I guess I should change the title of the thread, BTC is slowly sliding downward and LTC went over $19 a few hours ago, nicely up from 17ish yesterday...
This just shows what altcoins can do to BTC's price (and why bitcoiners hate altcoins). The expectations that after tomorrow's listings on the Chinese exchanges BTC and LTC will decouple from each other...
This just shows what altcoins can do to BTC's price (and why bitcoiners hate altcoins). The expectations that after tomorrow's listings on the Chinese exchanges BTC and LTC will decouple from each other...
I do not hate Litecoin at all (I own both).... Litecoin is the leader of Scrypt-family (Bitcoin is leader of SHA-family). Both are OK. I don't like copy-cats from the leaders.
Also: they don't decouple, it's just that Litecoin is much too cheap (it should be 25% of Bitcoins price, if they are equally used, but Bitcoin is 3 years ahead). If all things goes well, then Litecoin could run to 10% in one year time. Currently it's on 3%, so nice run still to go....
Well we can call it an adjustment of the coupling, but it is possible that Litecoin takes off on its own and there will be a real decoupling, a reneissaince of Litecoin, if you wish.
And you might have a different attitude towards it because you are invested in both. But obviously people only immersed in bitcoin has no reason to love a newcomer, specially a tailcoat rider....
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I side congrats to Atticus for investing in Litecoin instead of BTC, he is nicely in the money now....
That has been a short flare up, shall I say? Like a champagne supernova, LTC going up to 21 (I was expecting 23-25) then falling back right after the exchange listed it to 18 then today below 16, where it was 3 days ago...
So what does it say about the future of LTC or any related altcoin? Maybe that people are willing to ride it only for a short period of time and they quickly take the gains...
We are also back to the 0.027 LTC/BTC ratio and both of them are very weak today, BTC falling below $600...
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Visualization of trading volumes:
http://wikibrains.com/map/532add45e4b0dbbf379c4fef
So what does it say about the future of LTC or any related altcoin? Maybe that people are willing to ride it only for a short period of time and they quickly take the gains...
We are also back to the 0.027 LTC/BTC ratio and both of them are very weak today, BTC falling below $600...
---------------------------------
Visualization of trading volumes:
http://wikibrains.com/map/532add45e4b0dbbf379c4fef
Yes, clearly "buy the rumor, sell the news". The moment the Huobi Exchange, opened his doors, large sellers came in.
No problem, I'm in for the long run anyway.
Dude, crap like this is par for the litecoin. It says nothing.... new.
Then don't comment on it. Otherwise there is nothing new in the digital currency world, except that Karpeles has found his "misplaced" wallet. But we are supposed to be traders here and talk price action...