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I was sleeping and missed the move to $4400. I had sent out a link yesterday on my private chat of a long-term hodler saying he would sell at that price.

Do you think we are still going higher for BTC? The volume on this correction is not really huge in retrospect (i.e. compared to more recent corrections). Looks to me that the price will still go higher.

I looked at the LTCUSD chart and appears to me that we have maybe 3 days of sideways action, then might slightly move down before the bottom. So I am thinking one more move up for BTC before this is done. Still thinking $5100. My long-term projection since months ago was $4000. Then recently I calculated the more precise top to be just above $5000. It is possible for some crazy spike higher than that ($8000?), but it would likely only be for an hour or less.

Your thoughts?

Also Bitcoin Cash might be a smart diversification because of the following:

I wrote:

But don’t forget the potential “runaway” price spiral problem with BTC’s slow difficulty readjustment which I detailed in a prior comment as quoted from a Medium blog. Even Zcash was aware of that.


EDIT: LTC peaked in early July when the NY agreement for SegWit was formalized a bit. Then it rebounded when there was uncertainty in mid-July, and then it started crashing when it was clear that SegWit on BTC was happening. Thus I conclude that until BTC peaks, LTC will decline. Once BTC peaks and BCH starts rising, then the slow difficulty adjustment of BTC is going to cause BCH mining to be more profitable and potentially causes an downward spiral for BTC as I and others have theorized in other comments. That is when I see LTC rebounding because BTC-SegWit is failing. At some point BCH peaks, then BTC-SegWit recovers, so LTC peaks at perhaps 0.032 then declines again. Then some time later perhaps the SegWit theft that I theorized begins. Some where in that mix LTC may make it to 0.05, but it is difficult for me to ponder that because I don’t know the timing on when SegWit transactions will become numerous. And whether LTC to 0.05 will come as a result of a complete failure of BTC-SegWit, or just an extension of a rally interim. The mess is getting quite complex to ponder.

What you can see is that until July, LTCBTC was following a similar staircase pattern as LTCUSD. Then LTCBTC diverged from the pattern. Clearly this is because SegWit happened on BTC.

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