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XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found
XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found

Litecoin Price Prediction - Litecoin Founder Remains Defiant One Year After Controversial Liquidation Decision

  • Alex Morris
    📰 News

    Charlie Lee is now focusing on the merchant adoption of LTC, trying to leave behind the loud controversy

Litecoin Founder Remains Defiant One Year After Controversial Liquidation Decision
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Contents

In his recent interview, Litecoin cofounder Charlie Lee discussed the current state of the top 10 coin that rose to prominence as an early Bitcoin rival. Lee makes it clear that he’s tired of the liquidation talks, making merchant adoption of LTC his current top priority.

The elephant in the room

On Dec. 20, 2017, Lee caused an uproar in the Litecoin community, selling off all his LTC holdings at the market peak when the coin’s price reached its current ATH of $375. Naturally, there was a knee-jerk reaction to accuse Lee of having some sort of inside information that helped him jump ship right on the cusp of the market crash. LTC has been in a freefall since the liquidation with its current price sitting at $31.89 (more than a 90 percent drop in total).

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Taking off our tinfoil hats

Putting all conspiracy theories aside, Lee says that investors are wont to put the blame on someone when they lose money. Everyone was certain that Litecoin would be able to breach the $1,000 level, but Lee was able to see through the ubiquitous euphoria of one of the biggest bull runs in history.

Does it make Lee look bad? Yes. However, investor Aaron Brown states that ‘it’s fine’ for an investor to make such a U-turn after something becomes worthless. The Litecoin CEO doesn’t disclose how much exactly he had sold, but he claims that he was already rich before the liquidation even happened.

The lingering adoption problem

While the liquidation controversy is still whirring away in the background, Lee believes that there are more important issues, such as the merchant adoption of Litecoin that has been witnessing a steep decline since January. Particularly, he has been cooperating with HTC – the Taiwanese phone manufacturer has recently rolled out the first Blockchain smartphone called Exodus.

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Litecoin Price Prediction - LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

  • Jack Thomas
    🤷 Opinions

    🌱☀️Litecoin has been one of the best performing cryptocurrency assets in the first quarter of 2019, and there are a few reasons why it is boosting the crypto spring. From its impressive mainstream adoption, and with its speedy and cheap transactions, as well as added privacy and impending halvening, the price of LTC is set to do well

LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
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It would be wrong to call the cryptocurrency bear market over – the same low-performing market that has lasted well over a year now – however, there certainly is a change in the air. Bitcoin is over $4,000 and other altcoins have flexed their muscles, but none more so than Litecoin.

Litecoin, the fourth-biggest coin, which is currently trading at $60.52, has doubled its value in the first quarter of 2019, having started the year at $30.29. This coin, dubbed the silver to Bitcoin’s gold, has made some significant strides heading into the cryptocurrency spring.

The cryptocurrency spring, which is seeing prices in the market slowly come right and rally again, may have well been helped get off the ground thanks to Litecoin’s good performance through these first three months.

Many have dubbed this crypto spring as the beginning of altcoin season, and with that, there have been some big boosts from the top 20 altcoins that have aided in bringing positive sentiment to the market – none more so than Litecoin.

Reasons for the boom

Litecoin has always been in the shadow of Bitcoin, but it was created to be something different, much more of a cash system. It is this direction that is starting to be evident with Litecoin’s movement as the coin looks to forge ahead.

Reasons for the boom

One big boost for Litecoin has been its mainstream adoption that has picked up significantly with the goal of the coin’s team to get the cryptocurrency into payment systems. For example, Bob Moore Auto Group has signed on with Aliant Payment to accept Litecoin at their dealerships, starting with an Oklahoma City location. This means customers can buy a Subaru with LTC.

Additionally, Litecoin has always been about having fast transaction times as well as low fees in order for it to be usable as a digital cash, and the way things are going currently, it is hitting those attractive targets.

For instance, a November 2018 transaction worth $62 million only cost the sender $0.50 in fees on the Litecoin network. And with these low fees teamed up with the scaling layer of the Lightning Network, there is not much slowing Litecoin down.

Litecoin is also looking to boost user privacy as the team believes it is something that is missing from both LTC and Bitcoin. The Litecoin Foundation announced last month a collaboration with privacy coin Beam to potentially integrate the Mimblewimble protocol, which would add scale and privacy to the cryptocurrency.

Finally, the Litecoin halving is due soon, and historically, this kind of event has always been a catalyst for further growth and rallies in the cryptocurrency. The last one in August 2015 saw a serious downturn be broken, and even in the run up to this halvening, there looks to be a break in the downturn already.

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