Crypto Currencies ~ " Duck Tales Spin From The Crypt"

Founder of LTC just warned on Twitter to not expect a huge drop. He says doubling in a single day is not what the coin was supposed to, or able to do.

 

You're absolutely right, however even the stock market is mostly algorithms that follow patterns and check triggers to trade. Go to any stock viewer and you'll notice there's dozens of overlays of different types of analyzers. I've been following the market for almost a decade, and I thought the same as you, but time has told me that different trends are good indicators.

Markets are a beast of their own. A company will announce earnings that beat their top and bottom lines, and raise their guidance for the year, and the stock drops 5%

 

I'm confused... DONT expect a drop but LTC was NOT supposed to be able double in a day? sounds fishy

 

At least you guys will understand... my wife gave me a blank stare...

I figured as much as I’ve spent on my truck’s suspension in the last year, what’s a few grand worth of litecoin on the chance I make all that suspension money back, and more!

 

It sounds like you know what you're talking about. I'm just looking at this stuff for the first time really.

I think a big part of why I'd favor sentimental analysis is because these crypto currency markets seem to me to be completely different that any stock market we're used to seeing and analizing. They're absolutely different than fiat currency markets. How much does any country's currency fluctuate in relation to any other country's currency in the course of a year? Probably very little and when it does, it probably relates to something drastic like wars.

These markets are so new that I think the single biggest influence on them is simply the number of people jumping in. If a major media outlet does a favorable bit on crypto or some 19yo newly minted crypto billionaire then in the next few days the market could be drastically affected by all the new people jumping in. Conversely, if someone hacks a major exchange or something causes the collapse of one of these larger coins, the collateral damage across the market could be huge.

 

Sorry, phone messed up. He said expect a drop. He said when it grows like this, it overshoots it's actual price. 90 was the previous drop. Now, probably the 200s will be where it settles.

 

The markets you're talking about are a sandbox thats mostly manipulated by the smart people that have made a career out playing in it. It should behave the way the smart people expect it to behave.
These crazy new markets seem to have a greater share of dumbasses like me and so, at least in these early stages, they should behave the way a majority of us dumbasses expect them to behave and who knows how that is?
I'd bet that if and when these crypto markets become more mainstream and have more of the wallstreet suit types playing in them, they'll start to look and feel a whole lot more like conventional markets.

 

Sell

 

I don’t disagree with what you said at all, but as much as crypto is different from anything we’ve seen before that doesn’t mean there won’t be trends that can be identified. They may be completely different than what we see on wall st and highly motivated by public sentiment (especially the big 3 coins on Coinbase), but there will be trends nonetheless. That’s why I would advocate looking at all 3 forms of analysis; technical, sentimental, and fundamental. We should not forget the fundamentals either. Does a coin have a good management team, a meaningful/useful contribution to the crypto world, listed on major exchanges, etc? It’s all important to consider.

 

Wutt..

people sell crypto on ebay?

 

Awesome. Sorry everyone, but I can't wait.

No way... Waiting for the drop... Then I'm going full ra-tard.

 

Just in case it came out wrong, none of my posts were made in opposition to yours, just as an addition to the conversation.
If I understand right, these price curves we're seeing are unlike anything we've seen before unless it was like tulips a long time ago or something.

 

I heard that EBAY is "seriously considering" accepting crypto as payment

 

I didnt take it the wrong way at all. I appreciated the conversation, thanks!

 

A correction. I would honestly expect both ETH and LTC to have one rather soon. kind of like BTC did when it hit 20k. Right now people are hoping on the train. At some point people are going to start jumping ship, which causes more to jump ship, and come down. Itll settle somewhere though and then start slowly climbing at a normal rate.

Thats my short term prediction at least

 

I've set 2 alerts, high and low. Above 385 I'll sell. Below 325 I'll sell. At least either of those prices in the next few days.

 

Received my Ledger Nano S today and got it set up. Doing a test BTC transfer from GDAX before I send everything elso over.

 

I can't sell until mine posts either. Supposed to be Thursday. But I bought just under $100 so I'm not selling at $200 anyway. I'm buying if/when it dips.

Rumor is Amazon is talking about accepting BTC, I've seen that in other places than in this thread.

Is it ready for that? I honestly don't think so. Might be a trainwreck... But we'll see if it happens.

I agree. It'll be interesting to see.

 

I saw opposite. He warned expect a drop. He said don't buy now unless you're okay with it dropping to $20 a coin

Edit. Missed entire page of posts. Lol. So post above is irrelevant. Lol

 

Just curious, how did you come up with those numbers? They are pretty close to the support and resistance levels I mentioned in my chart a few pages back, so I’m curious what your process was to arrive at those numbers.