Author Topic: Prediction - LTC above $5.00 by September  (Read 5778 times)

Offline Rockyroad

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Prediction - LTC above $5.00 by September
« on: July 31, 2015, 02:25:08 PM »
Litecoin hit $4.70 and settled back down around $4.50.  Trending up now.  I predict it will hit $5.00 in September.  What do you think?

P.S. IMO bitcoin not doing so well.

Offline dballing

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Re: Prediction - LTC above $5.00 by September
« Reply #1 on: July 31, 2015, 03:08:01 PM »
Litecoin hit $4.70 and settled back down around $4.50.  Trending up now.  I predict it will hit $5.00 in September.  What do you think?

P.S. IMO bitcoin not doing so well.

$5 by Sept? ROFL! More like $10+ by then. If we break above $10 things could get.... freaky.

Offline TheMage

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Re: Prediction - LTC above $5.00 by September
« Reply #2 on: August 01, 2015, 01:49:32 AM »
There are a lot of factors that would go into this, and right now things are so crazy I have no idea how it will go.

Offline Maiser

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Re: Prediction - LTC above $5.00 by September
« Reply #3 on: August 01, 2015, 01:18:43 PM »
Litecoin hit $4.70 and settled back down around $4.50.  Trending up now.  I predict it will hit $5.00 in September.  What do you think?

P.S. IMO bitcoin not doing so well.

$5 by Sept? ROFL! More like $10+ by then. If we break above $10 things could get.... freaky.

so far I only see down since the $8 bull run  ::)

Offline artilectinc

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Re: Prediction - LTC above $5.00 by September
« Reply #4 on: August 01, 2015, 02:46:12 PM »
It was buy the rumor sell the news.  $8 was way overpriced based on the break even point for mining cost vs price/difficulty.  I think another leg down as we approach the halving as people take profits.  Nothing below 2 but we might see 2.50 LTCUSD, .010 LTCBTC as a low.

Offline Maiser

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Re: Prediction - LTC above $5.00 by September
« Reply #5 on: August 01, 2015, 03:08:01 PM »
It was buy the rumor sell the news.  $8 was way overpriced based on the break even point for mining cost vs price/difficulty.  I think another leg down as we approach the halving as people take profits.  Nothing below 2 but we might see 2.50 LTCUSD, .010 LTCBTC as a low.

how is 2.50 profitable though? especially after the halving?  :o

Offline artilectinc

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Re: Prediction - LTC above $5.00 by September
« Reply #6 on: August 01, 2015, 04:24:36 PM »
It was buy the rumor sell the news.  $8 was way overpriced based on the break even point for mining cost vs price/difficulty.  I think another leg down as we approach the halving as people take profits.  Nothing below 2 but we might see 2.50 LTCUSD, .010 LTCBTC as a low.

how is 2.50 profitable though? especially after the halving?  :o

Do you mine?  LTC would be profitable to mine post halving at .0037 LTCBTC with a Titan at .10USD/kW.  That is an LTCUSD rate of 1.00

Offline kilroy

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Re: Prediction - LTC above $5.00 by September
« Reply #7 on: August 01, 2015, 04:39:26 PM »
Not everyone has a Titan, in fact, the vast majority of LTC hashrate is composed of non-Titan ASIC's with the most efficient behind the Titan taking twice as much electricity per MH.  Also the average cost of electric in America is .12 which is a fairly large 20% difference.

LTC at $1 post halving would be like LTC @ $.50 now, a Titan can make 7LTC per day, thats $105 per month which is about break even.  Now you include costs for A/C and you are definitely running in the red.  The value of the Titan will go from $4k-6k today to $1500 at most with LTC @ $1 post halving.  So how much mining will it take to make up the lost $3k+ in value?

As for LTC @ $5, I hope so, especially with block halving.  One thing is for sure though, given the volume that LTC see's, I dont see any increase in price from the halving, the daily mint is a drop in the bucket to daily volume.  Our best bet as having mostly Titans is that the network hashrate will drop down to around a TH or less post halving so that way we get a slightly larger piece of the pie.

Some people say LTC was overpriced at $8 but I say LTC was waaaaay under priced @ 1.50 and in order to restore the same balance BTC & LTC had prior to the big crash, LTC would be valued at around $10-$12 today.

Right now probably the best thing to evaluate LTC futures would be charting IMO as its mostly day trading volume.



Offline artilectinc

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Re: Prediction - LTC above $5.00 by September
« Reply #8 on: August 01, 2015, 04:58:34 PM »
It's not a matter of what is on the consumer market and what was sold publically, it's only a matter that a chip was developed at that level of efficiency.  If there is more optimal unit it will be capitalized on and there is a private component that you will not know about.  Mining is a process of wiping out your own profits and is the only long term factor.  You can look at trading but that is always temporary, over time they get bored and move on.  After the halving there is no big news.  Traders will move on.

Offline Sukarti

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Re: Prediction - LTC above $5.00 by September
« Reply #9 on: August 02, 2015, 01:20:45 AM »
Mining has nothing to do with pricing. It has everything to do with speculators and whales.

They drive the price where they please, miners have very little influence or control.

Offline artilectinc

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Re: Prediction - LTC above $5.00 by September
« Reply #10 on: August 02, 2015, 01:29:59 AM »
Mining has nothing to do with pricing. It has everything to do with speculators and whales.

They drive the price where they please, miners have very little influence or control.

That is a bit clueless and ignorant of the complexity of how the market acts.

Offline jstefanop

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Re: Prediction - LTC above $5.00 by September
« Reply #11 on: August 03, 2015, 06:56:57 PM »
Mining has nothing to do with pricing. It has everything to do with speculators and whales.

They drive the price where they please, miners have very little influence or control.

That is a bit clueless and ignorant of the complexity of how the market acts.

You do understand that LTC currently has 41 MILLION coins in circulation, and that last 24 hours of trading has exchanged 1.4 MILLION worth of litecoin.

Do you know how much LTC was mined the last 24 hours? ...about 30 THOUSAND.

That value will go to 15k per day after the halving...mining has almost no sway in price for old coins like bitcoin and litecoin.

For new coins yes, price will gravitate to the cost of producing the coins, litecoin and bitcoin are way beyond that at this point and price is controlled by whales and the thousands that hold the coins, not the miners.

The only thing the miners influence at this point is the hash rate and difficulty, but then again that is dependent on the price so even that is dependent on the whales/traders.

Offline Sukarti

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Re: Prediction - LTC above $5.00 by September
« Reply #12 on: August 03, 2015, 07:27:11 PM »
Mining has nothing to do with pricing. It has everything to do with speculators and whales.

They drive the price where they please, miners have very little influence or control.

That is a bit clueless and ignorant of the complexity of how the market acts.

The only ignorant one is you. Don't kid yourself, the miners have minimal influence on the market.

Your arrogance and belligerence continues to astound.


Jstefanop clearly understands it quite succinctly.

Offline rhok0

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Re: Prediction - LTC above $5.00 by September
« Reply #13 on: August 03, 2015, 07:53:28 PM »
The mining ecosystem is influenced by the market cap/coin value, not the other way around.

Price up -> more investments in mining hardware (because the gap between production costs and sales value becomes greater)
In the infinity [sales value] - [production costs] will tend to 0.

You could theoretically run the whole BTC blockchain with 1 GPU (and nodes) if you don't care about centralization/security. It doesn't matter.
Just the new generated coins do have influence on the market, but 1 GPU or 10000000 Asics would have the same effect.
« Last Edit: August 03, 2015, 08:43:36 PM by rhok0 »

Offline hexoli

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Re: Prediction - LTC above $5.00 by September
« Reply #14 on: August 04, 2015, 02:08:44 AM »
following the post 8) 8)