Home / Litecoin / litecoin [LTC] the creator Charlie Lee says that the cryptocurrencies were a bubble in retrospect and crashed

litecoin [LTC] the creator Charlie Lee says that the cryptocurrencies were a bubble in retrospect and crashed

Charlie Lee, the creator of Litecoin [LTC] more commonly known as Satoshi Lite, he talked about his accurate predictions about the fall of Litecoin and also about inclementing with Bitcoin Cash. He also said that people have predicted prices under the influence of the upward rush and that they are now wrong, as prices are in a cycle of busts.

Lee talked briefly about his prediction of stiffening and also about the price forecast he made in 2017 that Litecoin could reach $ 20. Speaking of flippening, he said that Bitcoin Cash was susceptible to attack because it has a hash very reduced compared to Bitcoin.

Because of the above, he said that the threat from Craig S. Wright caused Bitcoin Cash to implement controls. Lee continued that this was the reason he believed that irreverence would happen.

In addition, Lee said he had experienced the DotCom bubble and that the dramatic increase in Bitcoin was something similar to it, given that both received much fanfare.

Speaking of people who call him the best positional trader, Lee went on to say that cryptocurrency prices moved higher than their real prices and that they were destined to go back.

He has declared:

"I said in my tweet, that the price of Litecoin has previously lost 90% from its maximum, so that's how the market is volatile and at the time of the tweet, Litecoin had just reached two hundred dollars. you can not, if you can not bear it, go back to 20, which is 90%, so do not go in. "

Lee added that altcoin prices mimicked Bitcoin and even decreased compared to Bitcoin. He also said that in 2017 people were much more bullish than they are now, and how people's predictions, like John McAfee and others, were all under the influence of bulls.

Lee concluded that no one believed Bitcoin could go from $ 200 to $ 5000 and that people were stunned with its massive 25-fold increase. He added:

"… so no one thought when he hit when I hit $ 20,000 is like wow where how high can really go my people thought it would go to two hundred thousand but then of course with hindsight, it was a bubble and now we are fallen. "

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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found a day of trading with that little capital he owns.

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