While encrypted prices may have apparently kicked the bucket, there are some optimists who have done their best to ignore prices, instead focusing on the adoption and development of this space.
Charlie Lee: The long-term price of a cryptic Indicates the levels of success
Since its incredible Bitcoin experience, from $ 1,000 to $ 20,000 and the subsequent decline, the "Fast Money" show by CNBC he is interested in cryptography. While the cryptographic CNBC coverage often focuses on short-term actions, forecasts and the like, the founder of Litecoin did its best to focus on another important aspect of this industry in a recent aspect of Fast Money.
– Fast Money of CNBC (@CNBCFastMoney) 27 August 2018
Staying true to its name, Fast Money began its cryptographic segment by questioning the founder of Litecoin Charlie Lee when he sees Bitcoin exceeding $ 20,000 again. Responding to doing his best to avoid a clear prediction, Lee stated:
"I mean it's hard to predict prices, and I've been in this space for seven years, sometimes I think he'll be back in six months or a year, but sometimes it takes three to four years, so it's a little hard to say. "
Following his response, CNBC host Melissa Lee then asked Litecoin's founder if prices, in general , meant "the adoption or feasibility" of a cryptic asset. Dividing his response into two components, Lee spoke for the first time about a long-term perspective, emphasizing that prices actually represent the success of a resource. On the other hand, short-term prices "do not tell us much". By supporting this last statement, the founder of Litecoin noted that even if adoption rates are rising, Bitcoin, together with a majority of altcoin, has still fallen by over 70% this year
clearly delineates a problem with price speculation, since systems, services or goods should ideally be assessed through the network effect, rather than the short-term irrationality of traders.
However, Lee still sees current prices as a more than profitable accumulation zone, giving advice to CNBC viewers in the following statement:
"I think it's good to buy in the limelight, at an average dollar cost the buy- This is what I would recommend everyone to do, as long as you do not spend money that you can not afford to lose, I think this strategy goes well. "
Taking this statement, together with the sentiment of Wanchain and Shapeshift's CEOs, becomes clear that now is the best time to buy cryptographic assets for long-term "hodling".
"It's a good time for people with heads down to get things done"
Brian Kelly, the CNBC crypto analyst, then raised the subject of next Litecoin summit, asking Lee what he wants participants to take away from the conference. Alluding to his previous statement regarding the long-term prospects of crypto, the founder of Litecoin, who obviously plays a key role in the event, replied by explaining:
"I would like people to concentrate on technology, the 39; adoption, trader adoption and even how to resize. So things like the Lightning network, the sidechain and the things that could help Bitcoin and Litecoin climb … And I think with the currently depressed price, it's a good time for people to sit down and have your head down and actually working to get things done. "
While downsizing solutions such as the lightning network could take years to accomplish, as Charlie Lee likes to say," build it and it will come. " Featured image of Shutterstock