Litecoin Founder shares his views on Bitcoin and the Cryptocurrency Space

By September 14, 2018 No Comments

Litecoin’s founder, Charlie Lee has always actively supported Bitcoin and has always encouraged people to buy BTC. Lee has, however, in a recent interview with CNBC expressed his views on Bitcoin’s crash and the motive to purchase Litecoin in the near future.
During the interview, Lee was asked for his forecast on Bitcoin and whether he thought it would reach its all-time high anytime soon. Lee answered by saying:
“it’s hard to predict prices, I’ve been in this space for seven years now… sometimes it comes back within six months…sometimes it takes like three or four years. It’s kind of hard to say.”
What the price of Bitcoin really implies
The present-day price of digital assets like Bitcoin hasn’t been ideal. Many are debating what the current price really implies. Charlie waded into that debate and said:
“I think, in terms of long-term. It tells us of the success of the cryptocurrency, but in short-term, it doesn’t tell us much. For example, this year there has been so much adoption in Bitcoin and Litecoin but the prices have dropped like 60 to 70 percent. So I think it’s because it’s so volatile, it’s all about speculation these days. But in future, the price will reflect the success of the cryptocurrencies.”
Lee’s statements are very accurate and as we have seen, the market has been highly volatile. It is crucial to know that the market capitalization of this space has been low since the turn of the year. We should keep in mind that Bitcoin’s price went lower due to the SEC’s rejection of the Winklevoss twins’ Bitcoin ETF. In addition to this, the SEC rejected nine Bitcoin proposals last week. Factors like this have played a roll in market value and trends.
After selling out all his Litecoins, will Lee purchase LTC again anytime soon?
Charlie Lee sold almost all of his Litecoin and in an interview last month, Lee said that it took fourteen days for him to contemplate on his choice to sell his LTC holdings. He said that the couple of weeks that he spent thinking gave him the chance to ponder the growth of Litecoin.
It is crucial to note that Lee’s statements eliminated the majority of critics with respect to the sale of his Litecoin. He said:
“It was less than two weeks in consideration. After selling it, I feel that there is no pressure… Because at that time, I feel that there is no some predictions about the movement of the Litecoin market, but it always feels a bit strange.”

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