Replies to post #983 on Litecoin (LTCUSD)

[Ramiel]

Smart investor. Soon to be a wealthier investor.

[Ramiel]

The future contract manipulation definitely contributed to the correction but it wasn’t the primary driver. The open interest was only 730 contracts for January

http://www.cmegroup.com/trading/equity-index/us-index/bitcoin_quotes_settlements_futures.html

The contract unit amount is 5 BTC

http://www.cmegroup.com/trading/bitcoin-futures.html

Which means the entire market of shorting btc was 3,650 BTC. Even assuming every single short contract is within this scheme (very unlikely), that still isn’t enough to move this market.

Asia is the one currently moving this market.

Believe me when I tell you there’s a handful of people (maybe 50) who control this market.

Believe me when I tell you my “prediction” wasn’t by me being smart but by me knowing the right people.

Wise decision being long LTC.

HODL!