Litecoin February

LTC slightly undervalued right now, riding that yellow 100 EMA. Charlie exited his position not for gains, but rather, so that he would not be associated with pumping the price for his own benefit. I've read that Litecoin wants to get itself into more markets as an actual currency and I think that's what their 2018 marketing push is going to be around. Supposedly there is also a possibility of smart contracts being used on Litecoin, and there are also plans to enable privacy features in the future.

With Litecoin already being superior in team/development/product/age (what, 4 years now?), lightning network progressing faster and faster, atomic swaps already completed (but not very practical yet), strong ties to the king (bitcoin), and everything else I mentioned above, it feels like another run could be coming. Whether that is in weeks or months, that's the question.

TA isn't voodoo magic but it does help paint some pictures of potential futures. I know if I were an institutional investor I certainly wouldn't consider making any moves without reading a chart up and down first. Anyway, I am interested in seeing what happens in Feb when the flag closes.

Exits at the ATH, coincidentally deciding only after 1 year of getting his shitcoin on coinbase that he had a coinflict of interest.

But he wasnt in it for the money right

I hate him, ruined his own coin

...

You have to consider that there exist multiple scenarios in which a person in Charlie's position would sell his Litecoin. It could even be a combination of them

A - He is trying to make money either because he knows the market is going to crash or because it's just a really good ATH to sell at

B - He is worried about the fact that since he holds a good amount of Litecoin, any time he markets his product he will viewed as trying to 'pump' his coin. And Charlie is extremely active in social media and marketing of Litecoin.

While he could potentially have insider information for scenario A, what is CERTAIN is that he has insider information for scenario B. He knows what's going on with Litecoin. He would know if something big was on the horizon, and that announcement of such would make him appear as a pumper.

Imagine if Litecoin grew to 1k USD and then Charlie started selling off his Litecoin then, but didn't give a reason for it. Would you hate him just as much for it? More? Less? What if he sold when it was $100? Is there any dollar point where you would be happy with Charlie selling off his Litecoin position? I doubt that you would be 100% happy unless he sold it at some trivial level like $10, which let's face it - we're never going to see again. But could we see a new ATH? Well, I think so. And I'm pretty sure Charlie thinks so too. It's fine if you want to be mad because he happened to make a profit on his product, but you sometimes need to be able to distance yourself from these emotions when trading/investing if you want to make the gains that the emotional investors are not. Looking at you too

On OKEX, LTC futures normally trade below the spot price. 1-2 days before the bullrun to ATH (both bullruns in fact), the futures price jumped above the spot price.

Curious, eh?

charlie lee kept tweeting he's not going to pump/promote litecoin just for the sake of pumping the price.

then all of a sudden sometime in november/december he tweeted "there's going to be a big promo round for LTC", he started appearing on CNBC, Glen Beck, etc. LTC price starts to go up around this time. Charlie is "pumping" LTC finally, people were rejoicing.

Little did they know that mid-December he dumped all of his LTC, for "conflict of interest". I say BS.

coincidence???

THAT'S IT, I'M OUT FROM THIS SHITCOIN, TIME YO PUT IT ALL ON EOS

>You have to consider that there exist multiple scenarios

Except that if you TA the exit point, TA shows that's exactly where you should exit...

Lmao EOS is an even shittier coin than LTC.

EOS was the talk of the town at the Miami Blockchain conference

it's going to moon going into June

Man i like LTC but theres something going on.
Charlie may be an ideologist like zach delarocha crashing his own product for anarchy or just exit scam.
Its probably the first, so i dont know what will happen.

As I stated before, is there any point you would have been happy with him selling? People would still make an argument that he sold for massive profit because of all the "marketing he does for LTC" if he sold when it hit $50. The same exact argument applies at high in price in the past. Yes, December was a bigger culmination of events and a bigger price, but that's what happens as time passes. If he sold at $10 it would have been after small events. $100 after some bigger ones. $300 and you can find some even better arguments to make. And I'm sure if he sold at $1000 you could point even more fingers. 10k and you would say "he only sold LTC because it surpassed Ripple in market cap" or some other excuse.

You can use TA to tell yourself any story you want. TA is primarily just a tool for reinforcing what you already want to believe, but secondly for finding entry points. Using TA as a tool to figure out an exit point is a silly endeavor in a bull market (in my opinion). I think you're better off using broader tools for that, like saying 50% RoI, 100%, or whatever you expect.

That's okay EOS is a good project too. Good luck

i think charlie knew or had a hunch that market was going to sell off. His brother owns a Chinese exchange, so would probably have some inside info.

At least Charlie was nice enough to give his followers "hints" of coming crash.
First he tweeted that he fully liquidated his LTC position.
Then he tweeted "20% off on LTC items"

he also tweeted "people should not be surprised to see 90% loss in this crypto game"

if he believed so much in LTC, he should have locked up his coins for 5 years or something. 1. He would not be accused of pumping and dumping 2. it shows he is so confident in his product he is willing to hodl LONGTERM, that cannot be understated when it comes to investors. Part of me really likes Charlie and what he does, and part of me, the part that was left holding those heavy bags fucking hates him.

>strong ties to the king (bitcoin)

heh... Poor litecoin, it never stood a chance.

He put all of his ltc into bitcooooneeeeeeeeeeeeeeeeeeeeeeeeeeeect

It's entirely possible he knew. But if he does have that kind of knowledge, wouldn't his product be the one you want to invest in? Inside info for an entire market crash is huge. I'd rather position myself in Litecoin which has inside trader Charlie than 90% of alts who have no such thing, were that the case

Further on the idea of inside info and selling solely for profit - I think it's only speculation right now and we would need to see him but back in in the future (or be coincidentally personally "donated" a large sum of LTC) in order to have confirmation that that is what happened. If you have inside info and ties you don't just make one move during a massive financial and technological revolution.

>. If you have inside info a
he tweeted "he sold some at $95, $175, and $350 for average of around $220", and donated some to the LTC foundation

The mental gymnastics is quite stunning here 9/10

If the guy dumped his own coins its game over. There is no other way to look at it.

thanks user, just bought 100k.

I would have preferred he held on to some of the coins. A major stakeholder should have a strong financial incentive to make sure of the success of the product.

When Lee completely divests himself of his product’s coin it should be concerning. Even if you believe in the coin and understand why he did it.

That shit means nothing if he doesn't list volume. I been thinking of getting LTC right now with some new fiat, but I'm not sure after his latest tweets.

Only smart person in this thread.

That's a really good point. Shame he wasn't able to like, lock up his funds. It even better, 100% donation to the LTC foundation.

It does seem rather odd that often his tweets have a bearish vibe. But look at what he said from a logical standpoint. J mean, he's not wrong and he's just being pragmatic

Is it going to hit $300 soon? during next month?

>It does seem rather odd that often his tweets have a bearish vibe.

I think he just doesn't want to be responsible for bad traders who lose money and then try to blame it on him. So he just tries to scare people smart and discourage them from being to eager to buy any price.
Compare him to someone like Justin Sun the hype beast or the OMG crew with their skateboard decals and fake partnerships.

Charlie just sold his bags to normies and laughed all the way to the bank.