The volume is extremely high but it is not a panic waterfall collapse. That to me is very bullish. It indicates to me the smart money is trying enter at the lowest price they can before the next blast off.
I hope so. and i guess we will find out soon enough.
right now price is 0.0076
BTC for litecoin on polonix and that is about $9.24 with $1217 bitcoin price taken from bitfinex.
Nearly all the altcoins are down because the market is confused and thinks that Blockstream has defeated Jilian Wu's BU, but I expect BTC is topping out at $1200 (range bound as I predicted many days ago) once the market realizes that this BS about SegWit signaling on Bitcoin gaining momentum is nonsense. Bitcoin will never get scaling. The market will digest this, Bitcoin will stumble and Litecoin will rocket up.
nearly all altcoins are down because their pumping period ended. and after a pump a dump comes. in other words when a price goes up fake and fast it enters a bubble and bubbles always burst and price comes down and it only speeds up at some point.
and nobody cares about the names like Juhan Wi or whatever you kids throw around these days. that is a fight between two parties over who takes the power and we are all sick and tired of it and market makers are laughing at those who fall for the bullshit while they accumulate cheap coins.
and again we will see soon enough. current price of bitcoin on bitfinex is currently at $1217
The market is stupid because Bitcoin will actually benefit from scaling on Litecoin, but the market has to go through its gyrations. In any case, my thesis is Bitcoin remains range bound until Litecoin catches up, because the charge says "It Is Just Time" and because Bitcoin can't move up until there will be scaling in the Satoshi's PoW ecosystem. Litecoin will get it, Bitcoin won't, but that it is a good thing for Bitcoin. Market doesn't realize any of this yet, but the smart money does.
SegWit on litecoin is not for scaling, it actually doesn't need scaling with the faster blocks and with ability to handle more transactions in them (although it has many downsides that i don't want to get into here).
i suggest you read the article by Charlie Lee about why SegWit is being activated on litecoin and malleability fix that SegWit is offering.
and stop with the drama of bitcoin being limited and needing fix,... it is a way too old FUD now and nobody listens anymore.