Litecoin creator Charlie Lee: price maximum to repeat only in 5 years

Julian Hosp from TenX, a project dedicated to special credit cards which support digital currency, has interviewed Charlie Lee, brother of prominent investor Bobby Lee and, more importantly, creator of the cryptocurrency called Litecoin.

Among other notable points of this interview, Charlie Lee has declared that the historical maximum ($374) will repeat again only in 2023. He is not sure if his decision to sell all his own litecoins at the maximal value was a most prudent he made in his life, but insists that this move would somehow influence the future of LTC in a good way.

He has also explained his controversial step after which the price of Litecoin has considerably decreased (although initially it didn’t): Charlie Lee thought that him owning big amounts of the cryptocurrency he created violates the principle of community decentralization. He doesn’t mention the fact that the actual sale and the subsequent price decrease made him a bigger market influencer than he was before when just holding those assets.

Litecoin’s growth has been irrational in the first place, as pointed out by market analysts citing scientific papers as an argument. The opinion expressed by one of the executives at Ritholtz Wealth Management went largely unnoticed, but it could have warned some traders about the downfall which actually happened afterwards. Litecoin’s current price is $150.

The full version of the dialogue between Julian Hosp and Charlie Lee is available on YouTube:

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