wildbud
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November 28, 2013, 08:15:33 AM

I see a litecoin crash coming before 50

I know everyone has an unique opinion on the matter, but if Litecoin starts to get some major press regarding this price rise, the semi-brotherly love between Litecoin and Bitcoin is going to go away.

I think the world can have multiple coins, although I do think if Bitcoin switch to mBTC, it would undercut a lot of Litecoin's attractiveness.  Yes, I know Goat, who owns several hundreds of thousands of Litecoins and has made probably over $5-10 million dollars TODAY alone, says that the Chinese think its a better coin. But that's crap. This is speculation in its purest purest form.

That being said, I have no problem with someone making $10 million in a day off of speculation, but at some point Litecoin's price is going to cause a more heated competition.

Its also so weird, because if BTC and LTC were privately held companies they could innovate and market at lightening speed. But being communal, they really can't adapt quickly.

Like the mBTC thing. People just argue back and forth about it and nothing will ever probably change. At least not for a while.

It will be interesting what the eco-system players like Circle.com will have to say about LTC. And how businesses will feel about accepting 2 coins instead of 1?

Again if this was corporate competition the smartest team would win. But instead, BTC and LTC are more like 2 inner tubes floating down and river without much oar power. Who knows whats going to happen.

I personally had invested significantly more money into LTC than BTC from the start but this current trend is just crazy. People will start taking profits and it will drop to the ~25 range then go back up. Don't get me wrong I could see LTC going above 100 in the next 6 months but not before a major crash. I took 50% profits at 36, 39, 41. Now I have buy orders at 26, 23, 17