Charlie Lee Supposed Bitcoin Repeats Litecoin`s Halving Script
The creator of digital silver, Charlie Lee, believes that the rate of BTC may repeat the LTC scenario in anticipation of the halving in the near future. Recall that a few months before the halving of the block reward in the Litecoin network, the coin rate began to grow and reached an annual maximum of 144 dollars at the end of July. During halving, the rate dropped to $100 per coin, and by December it completely rolled back to $38. As of this writing, the LTC rate is around $60.
“We saw what happened with Litecoin last year, the price rose before halving and fell after it. So it is,” Lee said.
He believes that people bought LTC because they counted on further growth, but after halving they simply sold it.
“Will see what happens with bitcoin. I think that it will follow the same script. But you never know what can happen,” the creator of Litecoin said.
Earlier we wrote that Fundstrat analysts predicted a 100% increase in bitcoin rate by the end of the year. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.