Litecoin revivial?

[Louis Vuitton]

I'm thinking of re-investing in Litecoin, I think it will rise again at some point, right now it's around $2.30 but I truly believe it will rise to anywhere between $10-25 per again.

Thoughts?

 

[Louis Vuitton]

Still looking to get some opinions on this.

 

[Bacterial]

Bitcoins are so successful it hardly lets any other similar currency get share.

 

[Louis Vuitton]

Bitcoins are so successful it hardly lets any other similar currency get share.

Yes, I'm not talking about it ovetaking Bitcoin in terms of it's success or price.

But back when BTC was around $1200 per, Litecoin was also around $25 per, and I think it may rise again.

 

[Superfluous]

why do you think litecoin is going to outperform bitcoin? i can't see any reason that it would

 

[Louis Vuitton]

why do you think litecoin is going to outperform bitcoin? i can't see any reason that it would

I specifically stated that I didn't think this


All I'm saying is that Litcoin right now is about $2.30 per, and I think it will rise back up to around $20-25 sooner or later, so it will be a smart investment.

 

[Shall Skill]

What's the basis on the rise in price?

 

I specifically stated that I didn't think this


All I'm saying is that Litcoin right now is about $2.30 per, and I think it will rise back up to around $20-25 sooner or later, so it will be a smart investment.

Why did it crash so hard in the first place?

 

[Louis Vuitton]

Why did it crash so hard in the first place?

It crashed due to a 300,000 coin dump from some hoarder who go rid of it all.

Source: http://www.ibtimes.co.uk/litecoin-whale-dumps-300000-coins-causing-price-crash-1455130

But I think it will definitely rise again, when Bitcoin slowly dies, I do think it will take it's place, I'm talking long-term, 1-3 years from now.

 

If it's $2.30 right now, go for it. It may recover slightly, you never know.

 

[Louis Vuitton]

If it's $2.30 right now, go for it. It may recover slightly, you never know.

Yeah, I think I might just dump $100 into it, even if it doesn't rise, I doubt I'll lose much if any money.

 

[Shall Skill]

Why not put that money into a company you like with good fundamentals and technicals instead?

The graph you provided shows a steady downward trend that has shattered every support level it's created. Granted, the graph isn't of a long period of time so I might not be getting the whole picture here - but from what's provided it looks pretty bearish

Seems more like a gamble than an investment to me

 

[Louis Vuitton]

Why not put that money into a company you like with good fundamentals and technicals instead?

The graph you provided shows a steady downward trend that has shattered every support level it's created. Granted, the graph isn't of a long period of time so I might not be getting the whole picture here - but from what's provided it looks pretty bearish

Seems more like a gamble than an investment to me

Think of it as a gamble with 60/50 odds but you don't lose your money.

What is there to lose?

 

[Shall Skill]

Think of it as a gamble with 60/50 odds but you don't lose your money.

What is there to lose?

You're forgetting about opportunity cost (money you could be making if you put that $100 elsewhere) and there's absolutely risk involved. What's to stop it from going lower?

edit: What I'm trying to say is that there are potentially better places to put your money. If you know this cyrptocurrency like the back of your dick then by all means go w/ your gut feeling. This is all just my opinion

 

[Louis Vuitton]

You're forgetting about opportunity cost (money you could be making if you put that $100 elsewhere) and there's absolutely risk involved. What's to stop it from going lower?

edit: What I'm trying to say is that there are potentially better places to put your money. If you know this cyrptocurrency like the back of your dick then by all means go w/ your gut feeling. This is all just my opinion

Well yeah, but opportunity cost comes with any investment, I understand what you're saying though. I have been watching Litecoin closely since its demise and I do think it will rise again. I'll let you know how it goes if you're interested.

 

[Alch]

"Currently, bitcoin’s design has a maximum block size limit of 1MB and an average time interval between blocks of just under 10 minutes. The average block size is projected to approach this 1MB limit by the end of 2016, which may prove problematic to the bitcoin’s growth under its current specifications. Once the 1MB block limit is reached, transaction confirmations can begin to take longer than the expected 10 minutes—and transactions may have to wait multiple blocks in order to be confirmed. This situation could, in turn, have an effect on the market price of bitcoin, which we will discuss later in the article. "

If they can't fix that, maybe litecoin will have a small jump. I don't have enough BTC knowledge to know the logistics behind that issue, or how it can be solved though.

 

[Louis Vuitton]

"Currently, bitcoin’s design has a maximum block size limit of 1MB and an average time interval between blocks of just under 10 minutes. The average block size is projected to approach this 1MB limit by the end of 2016, which may prove problematic to the bitcoin’s growth under its current specifications. Once the 1MB block limit is reached, transaction confirmations can begin to take longer than the expected 10 minutes—and transactions may have to wait multiple blocks in order to be confirmed. This situation could, in turn, have an effect on the market price of bitcoin, which we will discuss later in the article. "

If they can't fix that, maybe litecoin will have a small jump. I don't have enough BTC knowledge to know the logistics behind that issue, or how it can be solved though.

This is also very true, yesterday I sold a chunk of BTC, and it took over an hour to get 1 confirmation, however the size of the block was only like 300bytes, so I'm not sure.

 

[Clock]

Don't see litecoin making that big of a comeback unless something happens to bitcoin.

 

[Louis Vuitton]

Don't see litecoin making that big of a comeback unless something happens to bitcoin.

I don't expect it to go even as high as $30 per Litecoin, I guess when I say a "revival" I don't mean it being as big or successfull as Bitcoin itself, but to get back into its prime when it peaked at just under 30 per, right now they're floating around the $2.30 mark, so that's some serious profit with a small investment.

 

[Louis Vuitton]

Just an update, it's gone up to $3 now.

+5% worth in the last 24 hours, not bad.

Keep updated at: http://coinmarketcap.com/