Charlie Lee, the creator of the litecoin cryptocurrency, is confident that crypto investors can safely invest in the digital currency, hoping for a long-term perspective. He believes that speculation is to blame for the huge volatility of the cryptocurrency, but in the future prices will strengthen and the crypto will be a success.
Lee explained that the short-term highs and lows of prices do not say anything about the success or, conversely, the failure of the cryptocurrency. He advised investors to monitor long-term trends.
Lee said that although he has been working in the field for more than seven years, it is still difficult to predict prices, answering the question about bitcoin's prospects. He explained that sometimes it takes six months to restore a course, and sometimes three to four years.
WHY IS IT IMPORTANT?
- Charlie Lee believes that buying bitcoin or litecoin on the way down can be a good strategy in the long run.
- He also believes that low prices for cryptocurrency is a great opportunity for developers to forget about speculation and do something really worthwhile.