Charlie Lee, the founder of Litecoin [LTC] recently spoke about Bitcoin and its price fluctuations. He had previously talked about the pure way Bitcoin and Litecoin can take over and the network and privacy of this last one.
During an interview with Crypto365, a YouTube channel, he was asked about fluctuations in Bitcoin prices and how cryptocurrency can avoid purgatory & # 39; that was right now. Lee went on to say that the price differences in a market as volatile as ours depend on various spending options and market factors.
He said that the difficulty in forecasting prices depends on the disparity between the deadlines. The founder of Litecoin went on to say that sometimes the price can increase between six and seven months, but there are also situations in which the crypt enthusiasts have to wait years to see a positive blip on the charts.
At the time of writing, Bitcoin was enjoying a fairly bullish atmosphere, with a rise of 1.12%. The cryptocurrency was trading at $ 7,323.33 with a market cap of $ 126.32 billion.
Charlie Lee was then asked about the adoption situation of Bitcoin and the price aspect in terms of long and short run. He said that when prices remain strong over long periods of time, it acts as a positive indicator of the success of cryptocurrencies. In the short run, it does not actually indicate any major change in feelings as it can only be a sudden spike due to unforeseen circumstances, he added.
He also added that the prices of Bitcoin and Litecoin change drastically and the speculation around it seems only to increase its myth. Lee said the future is promising for these coins and will show a successful implementation in the financial ecosystem. The computer magician also said he did not regret having sold all of his Litecoin and revealed that he had done so due to a conflict of interest.
In addition, he talked about how users should not risk their assets while being part of the cryptocurrency juggernaut and asked them to make smart decisions. He said:
"I think it's always nice to buy all the way … That's what I would recommend to people … As long as you do not spend money that you can not afford to lose, I think it's fine. bad for people who like to mortgage their house, put all their money in a coin and then see them fall to 80% but as long as you can afford it, I would say spend some money buying some encryption is perfectly okay. "
Charlie Lee was confident that the big guys in the cryptic industry would sit down and formulate solutions to the problems that plague the industry, scalability and adoption as their main goal.