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Here is how the Bitcoin (BTC) future looks to Litecoin (LTC) creator

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Litecoin’s founder, Charlie Lee has always expressed his support for Bitcoin (BTC) and he has always pushed people to purchase BTC than any other cryptocurrency. However, Lee, in a recent interview with CNBC talked on what he sees on Bitcoin’s crash and the Litecoin buying motives in the coming days.

During the interview, a question was put forward to Lee on what he foresees with Bitcoin (BTC); if it is going to attain its all-time highs 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 current price of cryptocurrencies especially Bitcoin hasn’t been favorable (yes, we’ve seen some ‘green days’ just recently). But still, most people really ponder what the current price really implies. On that, Charlie answered:

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 true and as we have seen, the market has been volatile. It is important to know that the market has been low since the beginning of this year, 2018. We shouldn’t forget that Bitcoin (BTC) further dipped down as a result of SEC’s rejection concerning Winklevoss twins’ Bitcoin ETF. Additionally, SEC also rejected nine Bitcoin proposals last week; such factors have also contributed to the market value and trends.

After selling out all his Litecoins, will Lee purchase LTC again anytime soon?

Charlie Lee sold most of his Litecoins and during an interview last month, Lee said that it took two weeks for him to contemplate on his decision to sell his Litecoin holdings. He added that the two weeks gave him the opportunity to ponder on the growth of Litecoin.

It is important to add that Lee’s statements removed lots of critics concerning the sale of his Litecoins. He said this further:

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.”

And now, in the interview with CNBC, Lee said that he doesn’t have any intentions to purchase his Litecoins back anytime soon. Lee’s words were,

“For me, I sold my LTC because of conflict interest, so, I’m not going to buy back my Litecoins anytime soon or at all. “

He also shared his thoughts on the decrease in the value of crypto and if this is the best time to buy cryptocurrencies. Lee states,

It’s always good to buy on the way down to average dollar average you’re buying… that’s what I’ll recommend people to do and as long as you don’t spend money that you can’t afford to lose, I think that’s fine. I think it’s really bad for people who like to mortgage their house, put all their money into a coin and then watch it drop to like 80 percent.”

So, it is evident from the Litecoin creator’s thoughts (and he is a crypto expert, isn’t he?) that Bitcoin is bound to succeed in the long-run. If you believe in crypto, do not think short-term, be a long-race horse to increase your chances of success.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Octavian Rosca on Unsplash

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Why Blockchain Projects Keep Failing

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If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.

Unfortunately, this mentality isn’t just…

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Altcoins

STEEMIT Running Out Of STEAM?

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Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…

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Altcoins

The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

Who hasn’t been scammed at least once?

The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…

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