- Litecoin creator Charlie is bullish on LTC value.
- In a Twitter thread on Tuesday, Lee mentioned he sees cryptocurrency as having a number of potential.
- He famous that Litecoin has been round fairly a bit and has had over 11 years with no downtime.
Litecoin (LTC) creator Charlie Lee says he sees cryptocurrency as having worth even when its value stays a fraction of Bitcoin (BTC)the pioneering asset that impressed what’s sometimes called digital money.
In a tweet job Early on Tuesday, Lee pointed to what he says are plain indicators of Litecoin’s key strengths. He sees Litecoin value profitable in opposition to Bitcoin.
“It is arduous to disclaim that Litecoin has worth, a coin that has low charges, is appropriate with the Bitcoin protocol, has the identical theoretical gaming assault surfaces as Bitcoin, is secured with its personal set of ASIC miners , is pretty launched and has 11.5 years of historical past with out downtime“, famous Lee.
Charlie Lee bullish on Litecoin value
Sharing his value outlook for LTC, Lee mentioned he expects digital money to succeed in new highs. He notes that the present market values Litecoin at round 1% of Bitcoin, which is “correct”. Nonetheless, with “a ton of potential,” the altcoin might rally to 10% BTC.
Lee says the upper throughput, scalability, higher fungibility, and privateness of the cryptocurrency are key options that would assist the value of the coin.
In keeping with him, transferring to 0.0125 BTC within the subsequent bullish cycle is feasible. Alternatively, the creator of LTC provides a Litecoin Value Prediction of 0.0025 LTC/BTC.
The market at present values Litecoin at simply over 1% of Bitcoin. Is it proper? I feel the market is correct at the moment, however Litecoin has a ton of potential. It has greater throughput by design and scalability with extension blocks and higher fungibility and privateness of MWEB.
—Charlie LeeⓂ️🕸️ (@SatoshiLite) Might 2, 2023
Litecoin was buying and selling at round $89 on Tuesday, Might 2, 2023, up round 2% on the day in opposition to the US greenback. In the meantime, it was altering arms at 0.00307886 BTC, with the LTC/BTC pair simply 0.1% within the inexperienced.
As Litecoin’s value hit its all-time excessive above $410 in Might 2021, its features paled compared to Bitcoin’s rally to its all-time excessive above $69,000.