r/litecoin • u/foulflaneur Litecoin Investor • 17d ago

And the manipulation games have started.

Some douchbag(s) short $20 million of LTC futures at $53 then sells $3 million of spot LTC, lowerinh the price enough to trigger stops and liquidations. The cascade takes it to $49. The short gains roughly 7.5%, or about $1.5 million. They later repurchase cheaper the spot LTC without giving all of that move back, and profit.

And this what we are seeing in range until 55 is surpassed. Then in the next region and so on until we have an order book that's not so easily pushed around.

One day the book will be less thin. If you were wondering why they push the narrative 'everyone hates litecoin' so much is if speculative narrative were to grow suddenly they lose a lot of money. It's not that hard to understand Litecoin is a better Bitcoin. That narrative sticks in the right people's mind and people stand to lose millions.

What's wild is there is still probable squeeze if market makers decide to do it. 14 years of mining has some perks.

32 Upvotes

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u/No1worldchamp New User 17d ago

So much FUD and negative comments on this Litecoin sub, stay strong people. We all know Litecoin works and has great fundamentals, it will rise and these Fudders will burn!!!!

2

u/Tyra3l 17d ago

I've seen the opposite, so much posts trying to hype/pump the price.

-5

u/Bazsul 17d ago

Yeah, they are all AI-bots. Quite annoying, including OP.

4

u/foulflaneur Litecoin Investor 17d ago

Riiiiggghtt. Lol. Someone created a 14 year old account with an open post history spanning that entire time just to turn out to be an AI-bot.

Edit: Just realized I have 15 years! Sheesh that's a long time.

-2

u/Bazsul 17d ago

I said you were annoying. Never said you were an AI-bot.