Litecoin (LTC) News – Charlie Lee was right about Litecoin (LTC)

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In December 2017, Charlie Lee stated that he had liquidated all his Litecoin (LTC) holdings. The reason which he stated for the same was that he could easily manipulate the prices of Litecoin (LTC). He also wanted to move on and focus on the growth of Litecoin (LTC) rather than just focus on the pricing of Litecoin. However, he has been proven right on multiple counts a year from that date.

Charlie Lee was right about Litecoin (LTC):

In December 2017, Charlie Lee liquidated his entire Litecoin (LTC) holding. At that point in time, Litecoin (LTC) was trading around $ 300. He clearly stated that since the prices has risen so much; it was a clear time to sell. He also stated in his tweet that it is very risky to buy Litecoin (LTC) at these levels. He thought that it was the peak of the bull market and thereafter, there will be multi-year bear market.

In fact, he stated that anybody who cannot handle Litecoin (LTC) being traded around $ 20 should not buy it. At that point in time, Litecoin (LTC) was trading around $ 300. Currently, it is trading around $ 23. So in a nutshell, his prediction has proved exactly right. One year of bull market has subsided. It remains to be seen whether the next year will also be bearish for the cryptocurrencies or not. However, one thing which is for sure is that he was completely right about the bear market in cryptocurrencies and Litecoin (LTC).

If you take his prediction on face value, you will realize that 2019 can also be bearish for the cryptocurrencies. He clearly mentioned that it will be a multi-year bear market. He gave previous examples as well when Litecoin (LTC) went from $ 48-$ 4. At that time as well, it was a multi-year bull market which led to Litecoin (LTC) falling to those levels. This is the reason why his claims are so solid.

It is true that he might have made a fortune by selling Litecoin (LTC) at around $ 300 but he did want others as well. His prediction is completely accurate. This is the reason why a year from then, it is expected that the 2 nd half of his prediction will also pay out accurately. The part various states that it will be a multi-year bear market rather than a single year bear market. Thus, it seems like there is even more pain to suffer from when it comes to cryptocurrencies.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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