Charlie Lee, founder of Litecoin said that he had no plan to purchase Litecoin in the short term or even wouldn’t do it. Nine months before, he sold out all the LTC that he held.
Buy on dips
During an interview with CNBC, Lee talked about the price trends and popularity of Bitcoin and Litecoin. When asked if it is possible to hold Litecoin again, he said it was unlikely.
The host asked Litecoin price is about $60. Does this represent a buying opportunity? He replied that bargain hunting is a good strategy, but only if you can do what you can, and the funds you spend should be within the acceptable range.
Lee has said that investors should hold at least one bitcoin while choosing to buy another cryptocurrency.
Darkness moment of Litecon
Last year, Lee sold a stir in the community because he sold all the Litecoin that he had held. Due to the clearance at the highest point ($350), community commentators believe that Lee deliberately created a market panic in Litecoin market that caused investors to lose money.
Lee said at the time that the clearing of Litecoin was to focus on the development of this cryptocurrency.
This year is a special year for Lee and Litecoin. However, some people still make a fuss about Lee’s clearance. Furthermore, the Litecoin Foundation and TokenPay announced that they would buy a German bank in July. It was supposed to a good thing, but because of the negative image of TokenPay, it has brought a lot of trouble to Litecoin.
However, there are still many people who support Litecoin, such as Blockstream CSO. He said on Twitter that Litecoin is the only safe long-term investment opportunity besides Bitcoin.