The market maker of Litecoin used an old trick called “fishing line” in the stock market. I wonder whether he gained profit yesterday, maybe this is not important, because his money comes from the venture capital, the purpose is to attract Litecoin traders to his exchange center, it’s OK to lose a little bit.

But this kind of manipulation is indeed very outrageous. Chinese stock market is dark enough, but it is at least supervised by China Securities Regulatory Commission. The market maker dares not to manipulate too much. But democurrency is totally unregulated, trade centers act as the banker themselves, being the referee as well as the athlete, this is utterly detestable .

Litecoin has dropped back to near 100 RMB, there is almost no room for further decline. It will not rise, either. Next, it will fluctuate between 90-120 RMB.

Because Bitcoin is in market downturn, so basically it followed the trend of Litecoin, Bitcoin slipped with Litecoin yesterday, but only few coins were traded.

Bitcoin has no more room to decline according to its historical movement.

Altcoin index today is 8.89, down 3.5%, all contributed by Litecoin. Altcoin index 2 is 2.89, up 0.4%, some altcoins have began to soar, vertcoin 42%, Bitcoinscrypt 350%(don’t buy high). This is long time no see. But altcoins with big market capitalization dived sharply, averagely about 10%, indicating that the market is still losing blood. So don’t hasten to buy, continue to wait.