Crypto News

Charlie Lee: I thought that the price of litecoin will reach $1000

It seems that the maker of litecoin Charlie Lee still long time to justify selling their litecoin at the price peak in 2017. Recall that Lee decided to sell litecoin when bitcoin was trading for about $300. In the podcast with partner Morgan Creek Anthony Pompliano Lee spoke about his current work on litecoin and the status of kryptonyte in General.

In conversation with Polliana he admitted that he was expecting higher prices:

Personally, I really think that the price will continue to grow. I didn’t think it was the peak… I thought that the price of litecoin will reach $1000.

He added that since then it always ask about the price. “But if someone tells you that he knows he’s lying. Nobody knows where the price will go. I have seen several bull and bear markets. But who knows? I think overall it’s good that we are seeing a recovery. But don’t go for broke. I tell people never to go VA-Bank”.

The price of litecoin currently hovers around $73, which is two times higher than in the beginning of the year. However, this is far from the price of $1000, which was expected at the time of “bull run” in 2017.

He is currently working on implementation of the technology Mimblewimble, which promises to make litecoin more private and interchangeable. As for bitcoin, Lee believes that eventually he will become a world reserve currency and will coexist with Fiat. He expects from thousands of altcoins in the end there will be only a few coins: “bitcoin will be the main. The other will be a few”.

Charlie Lee, a former employee of the company Coinbase and constantly advertises the popular American trading platform as the “most important company in the crypt”. However, he admitted that the acquisition of a startup Neutrino was a big failure of a company: “They definitely made mistakes. The recent acquisition of a Neutrino was pretty stupid… They justified it and in the end they had to give up their words. It was pretty stupid, and they are poorly dealt with it”.

See also: He’s not Tom Lee: Analysis of the predictions of the maker of litecoin Charlie Lee
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