Recently, Charlie Lee, inventor of Litecoin (LTC) posted a very bearish tweet concerning the future of litecoin. Many people wondered why Charlie would tweet out such a thing when he seemingly was supposed to try to amass confidence in the coin he created. Charlie had been garnering a considerable amount of mainstream press appearing on some cable news shows talking about bitcoin as well as litecoin. Approximately a week after this tweet, Charlie announced he was selling off all of his litecoin to avoid a "conflict of interest". This move was met with both admiration and disdain. The critics seemed to think without owning any litecoin and thus no longer having any "stake" he would not have as much interest in pushing the coin forward. In my opinion, it seems Charlie does have considerable worries about litecoin and while it is faster and has cheaper fees than bitcoin, he may see other coins that will enter the fold with qualities far superior to both. Did Mr. Lee go all in on ripple? What is your opinion on this matter?Ok, sorry to spoil the party, but I need to reign in the excitement a bit...
— Charlie Lee [LTC] (@SatoshiLite) December 11, 2017
Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! 😀
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Tuesday, December 26, 2017
Why did Litecoin Inventor Charlie Lee Predict Bear Market and then Sell off All his LTC?
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