The massacre of the crypt is here. Today, all the coins are in red, and with bitcoin (BTC) under $ 5400, it is becoming slippery for home runs. This decline is mainly due to the ongoing bitcoin hash on which the bitcoin is the real bitcoin. Craig Wright is offensive against the Bitcoin core and is pushing hard for his share of Bitcoin Cash in the BCH fork. However, there is another coin that is mixed in all this, and this is Litecoin (LTC). According to Craig Wright, Segwit is faulty and since it was added to Bitcoin (BTC) and Litecoin (LTC), it means that these coins are faulty and can not be corrected. He did not reveal the source of the defect, but stated that these two coins died due to this defect.
While this may just be another case of FUD, the person making these claims is not just a random person in cryptography. This is a person who claims to be Satoshi, and although there is no evidence of it, there is no denying that it is in any way related to bitcoin at a deeper level. Its influence is also clear in the way the market has moved following its threats of driving bitcoins to $ 1000. Therefore, its claims that Litecoin may not be useful due to a technical defect could have broad implications flow rate on Litecoin (LTC).
Unfortunately, Charlie Lee did not improve things in terms of trust in Litecoin (LTC). In the recent past he urged people to buy Bitcoin (BTC) before Litecoin (LTC).
However, even if the crypto blood bath continues, there is light at the end of the tunnel for Litecoin (LTC). One of the positive aspects of Litecoin is the adoption. The adoption levels of Litecoin have grown significantly in the last year and even during this decline its adoption is still recovering. For example, two days ago, Surfing announced that they would offer discounts for those paying Litecoin (LTC) and Bitcoin (BTC). Its increasing levels of market adoption have shown that it has utility, which invalidates Craig's claims that Litecoin (LTC) is a dead currency.
There is also the fact that the Litecoin community (LTC) has grown a lot in the last year. Even after Charlie Lee sold his LTC, the Litecoin community continued to grow. This shows that it is a strong community that has what it takes to survive and thrive without a figurehead. It is the community and the utility that has kept him strong, despite the assault he is getting from Craig. If the same negative energy were addressed to a currency with weak fundamentals, it would most likely have already fallen by more than 50%. But Litecoin is holding up, and his losses are in the same average level as all the other best coins. This is a sign of strength.
This decline could actually be a blessing in disguise for Litecoin (LTC), because the rebound could be stronger than any other that the market has seen this year.