Litecoin - the FOMO of today

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Hi,

today we had another fakenews on crypto, to be more precise, there has been a fake announcement that Litecoind has partnered with Walmart to be used as a payment method.

I've received also the alert and put some buy order on LTC, as rumours sell. Also, I've put another sell order at a higher rate which, luckily, was fulfilled, netting me a decent profit for today. I've done it on the BSC network, without needing to move to the other exchangers.

It was again a thing that showed that we triggered by greed and fear, as LTC rose to $230+ today, in a matter of minutes, when it dropped back close to the initial value, when the rumour was cleared.

The big impact such a news can have is huge. I'm glad that I have not lost any money, but many people had, mainly due to greed and without doing the due diligence.

For me, it was a reminder that this can happen on a daily basis.

What about you? Have you traded in that time? Did you jump on the rumour?

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I missed the opportunity. I was still in bed this morning. Lol. I would have longed. Close the positions when it was said to be fake news and short the market.

This is awesome news for crypto by the way 😂. If you understand the position we're in right now..

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I didn't even notice it but I wonder if it was just some random guy pumping coins or part of some larger plan.

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That was a spike that we rarely see in the crypto world but it shows what news can do and how it can impact the price of a token. I am not sure if it was just fake news or really confirmed, but we see what influencers and news can do to this market and I think this is a risk on one side. On the other side, it is marketing whether good or bad... :)

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