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Cryptocurrency markets are full of prediction noise. With Tom Lee forecasting that Bitcoin will reach $ 125,000 (he also predicts Bitcoin at $ 25,000 during this time) and McAfee pointing its shareholders to bet on Bitcoin will reach $ 1 million by 2020, it's hard to trust any predictions in these days.
But Charlie Lee, the founder of Litecoin, has made two forecasts in the last year that have come true. Number 1 during the bullfight in December 2017, Charlie Lee predicted that Litecoin could eventually suffer a very serious decline before recovering. He predicted that the price of the LTC will drop to $ 20, which is rather close to the low of $ 23.3 this year.
1. The forecast of $ 20
The clamor of last December was soaring, the so-called experts did not realize the giant bubble that had formed and had pledged to predict Bitcoin and Litecoin to reach respectively $ 50,000 and $ 1,000 in 2018. But Charlie warned users of the risks that they were committed by investing in Criptovalute.
Litecoin lost 93% of its all-time high of $ 375. The bear market is not over yet, there are still chances that LTC will fall below $ 20 in Crypto Winter.
Charlie Lee Tweeted (December 12th last year):
Ok, I'm sorry to spoil the party, but I need to reign a bit of excitement …
The purchase of LTC is extremely risky. I expect we will have a multi-year bear market like the one we just had when LTC lost 90% in value (from $ 48 to $ 4). So if you can not handle LTC going down to $ 20, do not buy! 😀
– Charlie Lee [LTC⚡] (@SatoshiLite) 11 December 2017
The Flappening
The second prediction took place a week ago when he predicted that Litecoin will surpass Bitcoin Cash. And this happened recently. Litecoin increased by 12% and exceeded Bitcoin Cash (BCH). The current market capitalization of Litecoin is over $ 1.5 billion, while the market capitalization of Bitcoin Cash is around $ 1.4 billion. The entire event is now known as the flappening.
Charlie Lee tweeted on February 25th of this year
🐔💸🚀https: //t.co/Z9AXW98GoH @flappening pic.twitter.com/Kq5glgteq1
– Charlie Lee [LTC⚡] (@SatoshiLite) December 14, 2018
Litecoin not only beats Bitcoin Cash (BCH) in market capitalization, but also surpasses it in other metrics such as active addresses, trading volume, mining premiums, etc.
Image source: flappening.watch
Take of Blockmanity
Investors may not trust Charlie Lee for selling $ 300, but in his defense, he warned us of the big drop. Which has come true. Not many influencers in the cryptocurrency space get even a prediction, so for Charlie Lee getting two predictions in a year is an extraordinary result.
Read also:
Litecoin Will Soon has more than 1000 merchants who accept payments via the Lightning Network
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