Here is how the Bitcoin (BTC) future looks to Litecoin (LTC) creator - Global Coin Report
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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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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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Altcoins

Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Bitcoin

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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